Dollar pairs have been in a constant trend with multiple swings, and we are now seeing some interesting signs of a potential reversal. I preface by saying this is a trade idea. I have written about why the Dollar will likely go higher, and what the Russians and Chinese are really doing in order to prop the Dollar up. Posted below. We are hearing about the repo...
Both the daily charts of AUDJPY and NZDJPY are showing signs of a reversal. With the NZDJPY, we had a double bottom at the 67.00 zone. It is a big support/flip zone. Yesterday we had a break and close above the 69.30 zone which is also a break above the previous swing (lower high). I like the structure here and as long as we hold the breakout zone, I can see...
Before I get into the trade idea, I need to preface that I still believe that US equities will be going higher in the longer term. Not really for any fundamental reasons, but more so that the world is in a bad place and the US looks the best, albeit having a lot of problems. Martin Armstrong calls the US and the US Dollar the prettiest sister out of the three ugly...
USDJPY on the 2 hour chart showing a nice uptrend with defined higher lows and higher highs. We have reached a big flip/resistance zone here at the 109.00 zone. Take a look at this zone on the daily chart. After making higher lows and higher highs, we failed to make a new higher high and this can be seen as a sign that the trend is exhausting or losing steam....
Maybe not the most popular trade idea given what is occurring with Turkey geopolitically, but a good set up nonetheless. Been in a downtrend with multiple waves, and we hit a support/flip zone which can be seen by going further back or on the daily chart. A double bottom indicates a possible exhaustion of the trend as no new lower lows have been made. I am...
Markets are closed at the time of writing, but this is a set up for the week ahead (Oct.14th-18th). My UK and US Oil and NZDUSD set ups I posted are still valid for the upcoming week. They look great but I do not hold trades over the weekend given the macro/geopolitical environment we are in. AUDNZD has a nice reversal set up here. We have held the support/flip...
NZDUSD been in a prolonged downtrend and we are now showing signs of a trend reversal with this head and shoulders pattern. The pattern is quite apparent and clear. I want you to also go to the weekly chart to see where we made this pattern. 0.6200 zone a very important support zone. This adds further confluence to this trade. We did have the break, albeit on a...
We had a break out on UK Oil here on the 4 hour chart. US Oil is at the breakout point: Oil has been in a prolonged downtrend with lower highs and lower lows. We began basing at the 57.50 zone on Brent. From here, we began to show exhaustion of the trend and it appears we have made our first higher low here with the higher high. For those that are more...
An idea on GBPCHF that is waiting to trigger. We had a nice 4 hour break and close below the support/flip zone of 1.2165. Overall this pattern shows a lower bounce type pattern, where buyers came in at support and tried to create a new higher low. It did not work and the sellers stepped in. Just reading price this way can be illuminating. So now we are retesting...
Been following this Bitcoin setup for sometime. We have been in a downtrend with lower highs and lower lows. We then hit a support zone of 7600. From here we began to see evidence of the trend exhausting. We stopped making new lower lows and lower highs. From this level we began to range. Some would argue also a double bottom pattern. Remember, the market only...
Like Gold here on the 2 hour chart. We have had our break, and a very strong one I might add below the neckline. A very quick post here because it is a simple idea. It appears we are making another swing here (lower high). Target would be 1460 but do watch for 1475 as well.
EURUSD was in an uptrend and seems like it is losing its steam. Interesting pair to watch. I like the fact that we did appear to hit a flip zone here which provides confluence. It appears the higher low and higher highs is exhausting, and we appear to be in a range now here. You can also see the breakout did not continue and was sold off. Other...
I like what I see here on CADJPY on the 2 hour chart. We hit a nice support/flip zone which can be seen by zooming out or going on the higher time frames. So far there is nothing to indicate a reversal, as we are still making lower highs and lower lows. However, what I am predicting here is a potential higher low which will be confirmed by a higher high break of...
This is a 2 hour chart of US Oil. I zoomed out a bit because I want you to see this support/flip zone we are at. Provides more confluence. Of course, you can easily see this on the daily and other longer term charts. We bounced from this zone and it seems we have exhausted the downtrend made up of lower highs and lower lows. Currently, we may have made our...
Like what I am seeing here on USDSEK. We broke out above into all time new highs, however the momentum did not continue. You can see we fialed to make another higher low. There was a battle between the bears and the bulls at the 9.8600 zone. @ hour chart shows the level better: We have had a nice break and close below this support level, and am targeting ...
The DXY is showing signs of a reversal with a head and shoulders pattern here. We are going from higher lows to lower highs. If you follow my work, I believe the dollar will be going HIGHER and this is what will cause all the problems in the world to get worse. Pullbacks are expected and normal. 98.50 zone is the one to watch for first targets. Market is now...
So my previous post for EURUSD this week did not give us our break out signal. Again, we await the pattern and then we await for the break and close. If we do not get it, no trade. It seems we have another chance of a reversal here. Although, on the daily chart it seems like the support comes in at 1.0800. We are back at testing the flip zone of 1.0950. From...
EURGBP was in a deep downtrend with lower high and lower lows. We found support and trend exhaustion at the 0.8800 zone. From here we then broke above the previous lower high, thereby nullifying the downtrend. We have already made a higher low and higher high. I am watching this resistance and FLIP zone here at 0.89. You can say we have a sort of head and...