Uncharted-FX

Uncharted-FX

Like what I see here on the CADJPY. We had our downtrend, and now have made a reversal pattern here. Today's daily candle closed higher above previous highs and had quite the strong break, although I would have preferred if it close above the wicks. This trade is valid above the 83.00 higher low level. That is the swing we are working with. Would be looking at...

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My followers and readers know my fascination and excitement about Gold and Silver. Being well versed in economic history, one cannot avoid Gold. Human history is cycles of hard money and soft money, and come 2021, we will be in the 50th year of this soft/fiat money cycle. Interestingly enough, Neil Howe and William Strauss in their book “The Fourth Turning”,...

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NZDCAD was a trade we took to the upside and hit our upside target. From here, we talked about watching for a potential trend reversal, and we are very likely getting this now. The uptrend with higher lows and higher highs is now exhausting. 0.8635 is the higher low we are working with and are awaiting the break and close below. You can see we expect a lower...

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With the supposed China "phase 1" deal being agreed upon...even though when no actual facts are really being presented and now the Americans are claiming it will be signed mid January...the trade has still been risk on. Markets globally liked the news as some uncertainties dissipate and we are set for a Santa Clause rally. I like what I see in the Spanish...

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Just before I talk about this trade, just a fair warning that the British Elections are this week on Thursday December 12th. So a high risk event, and will be dominated by Brexit promises. I have spoken about how Central Banks in the Western world are stuck, and they are now attempting to maintain confidence in the system. They want to go back to easing and QE...

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Unfortunately the break happened on a Friday. Will be looking to enter this trade next week as I do not want to hold over the weekend in this type of macro environment. First of all in terms of market structure, we had an uptrend with defined and multiple swings. What we look for. Then we stopped making higher lows and began ranging. We thus have seen 2/3 ways of...

Uncharted-FX

The US Dollar is getting a lot of discussion in the financial media, in politics, by billionaires, and by a lot of market participants and fund managers. For good reason: it is the reserve currency. Ray Dalio has been speaking about world powers and reserve currency status for quite sometime. His ‘paradigm shift’ and us being in the 7th inning of a debt crisis,...

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USDMXN has been in a well defined uptrend with higher lows and higher highs. We hit a resistance zone around 19.60 which, scrolling back, has also been a flip zone. From here, we did not make another higher high. In fact, we made what appears to be a double top pattern. 19.42 was the previous higher low swing zone that we were watching for a break. Price tested...

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USDSEK has been on my watchlist for quite sometime after we made new all time highs and then produced large red candles showing no momentum in the break. You can see we tried to create another higher high, but price was rejected and reversed at 9.7280. You can see the head and shoulders pattern which has occurred after making multiple higher lows and higher...

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The USDCAD is displaying 2/3 market structure. There are only 3 ways markets move: uptrend, range and downtrend. These are composed of swings in the case of uptrend and downtrends. The USDCAD has been in an uptrend, composed of higher lows and higher highs. We then began to exhaust as no new higher lows and higher highs were created. We are now in a range. Price...

Uncharted-FX

I have spoken about the EURAUD pair last week, but the trade was triggered on the break and close below the neckline. Market structure showing us a confirmed lower high. We are now back retesting the breakout zone which is normal and expected. One can enter here with a better risk vs reward, or the conservative approach would be to await a new confirmed lower...

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The main cryptos have been getting beat up quite recently. However, all markets have structure. There are only 3 ways markets move: uptrend, range, donwtrend. That's it. The crypto charts have had a prolonged downtrend with multiple swings. We are seeing signs of reversal, in fact Ethereum and Bitcoin show breaks of reversal patterns already. Ripple is showing...

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This idea is similar to my GBPAUD idea which is still valid. Awaiting the break and close is our trigger. EURAUD hit a resistance zone at 1.6320. We have been in an uptrend, but one factor which goes against this idea would be the swings, or higher lows, are not very prominent. However, there are 2 swings in the trend which is good for our trading. We can see...

Uncharted-FX

GBPAUD has been in an uptrend and has now reached a key resistance zone. We can see by looking at price action that the higher lows and higher highs uptrend has begun to lose steam. When we tested the resistance zone, we created a double top which is an important reversal pattern indicating exhaustion of the current trend. We have a swing level here at the...

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The daily chart of the China 50 gave us a reversal trigger on a Friday. Going forward this week would ideally like to see how the market opens to see if it can give us a pullback. The market structure is apparent. Higher lows and higher highs. We hit a resistance and from here the higher lows (uptrend) began to weaken. From here, we created and confirmed our...

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GBPAUD is at a major resistance zone on the daily chart. We can see that we even created an engulfing daily candle close today. However, I focus more on market structure. We have seen multiple higher lows and higher highs (multiple waves) in this uptrend. This means the trend is highly likely to reverse. On the 4 hour chart, price here is beginning to look...

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Gold had a daily chart break and is now retesting the breakout zone. However since the breakout was quite strong we would want to see follow through relatively soon, not doing nothing for 7 days after the break. On the 4 hour chart, we see a different picture. We see long wicks at a 4 hour support/flip zone of around 1450. From here we saw the lower highs...

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USDCAD on the 4 hour shows a nice uptrend composed of multiple waves (higher lows). We then began to lose steam at around the 1.3270 zone which looking to the left, is close to a flip zone and supply zone. You can see that we appear to have possibly made our first lower high which you can see close to my moving average, creating what looks like a head and...