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Markets Allocation
80 % forex 6 % stocks 2 % indices 12 % other
Top Mentioned Symbols
EURUSD 13% | 17 GBPUSD 11% | 15 USDCAD 8% | 11 NZDJPY 5% | 7
__SpecialFX__ __SpecialFX__ PRO GE, D, Short ,
GE: GE Testing Channel Resistance On Hourly & Daily Chart
22 0 4
GE, D Short
GE Testing Channel Resistance On Hourly & Daily Chart

Simple short setup from channel resistance found on both an hourly chart and a daily chart.

__SpecialFX__ __SpecialFX__ PRO USOIL, 240, Short ,
USOIL: Technical Breakdown in Oil prices
193 1 6
USOIL, 240 Short
Technical Breakdown in Oil prices

WTI Crude Oil has seen a technical break lower, although momentum has not accompanied the later part of the move. A rising 4-hour channel broke down last Friday, with momentum accelerating to the downside, and a rising trendline from February lows was seen broken during the FOMC Statement on Wednesday. Retracements in the pair may now be capped by resistance ...

__SpecialFX__ __SpecialFX__ PRO EURUSD, D, Long ,
EURUSD: Positioning Ahead of FOMC - Long EUR/USD
183 0 10
EURUSD, D Long
Positioning Ahead of FOMC - Long EUR/USD

The FOMC rate statement today is expected to remain unchanged with swap traders pricing in a 2% probability of a rate hike today. The focus will be on the recent NFP figure, Inflation and if July remains 'live'. The Fed will likely dismiss the NFP miss as Yellen already did in her speech last Monday. They should address stagnation in the PCE Index, and though ...

__SpecialFX__ __SpecialFX__ PRO GBPUSD, 60, Long ,
GBPUSD: Inverted Head & Shoulders in Play
51 0 2
GBPUSD, 60 Long
Inverted Head & Shoulders in Play

A possible inv. H&S already in play ahead of FOMC Minutes. Neckline confluences nicely with daily support 1.4514 (March highs). Measured Move targets fall at 1.4710

__SpecialFX__ __SpecialFX__ PRO USOIL, 60, Short ,
USOIL: Oil Breaks up Channel
240 11 5
USOIL, 60 Short
Oil Breaks up Channel

I sent out a bullish chart on Oil on Friday, as the instrument went back to retest highs. As per the chart, it did not confirm the bullish break by taking out the 46.04 level, for the ABC up. We have however, taken out the lows, and broken the up channel. This is a strong short setup. It remains to be seen if we retest the upper channel line of the new down ...

__SpecialFX__ __SpecialFX__ PRO USOIL, 240, Long ,
USOIL: Oil Bouncing from Channel Support - remains Bullish
154 0 3
USOIL, 240 Long
Oil Bouncing from Channel Support - remains Bullish

At the start of the week, we saw some pressure on Oil, possibly suggesting we may have topped out The chart shows we are holding the up channel, and we are likely still in the bullish cycle. On 4H, if the current candle closes near it's current levels, we would have a bullish engulfing candle. We are also showing a higher low followed by the low made two days ...

__SpecialFX__ __SpecialFX__ PRO EURJPY, 60, Short ,
EURJPY: Possible Flag Pattern Play
789 12 25
EURJPY, 60 Short
Possible Flag Pattern Play

EURJPY on 1H showing a potential break of the flag pattern. Looking for confirmation via a 1H break below the channel. Bearish invalidation comes in at wave B highs at 123.21 Targets open to the downside based on price action

__SpecialFX__ __SpecialFX__ PRO DXY, 240,
DXY: Is The USD setting up a bullish ABC?
105 0 3
DXY, 240
Is The USD setting up a bullish ABC?

A general outlook on the USD for the next week. At the beginning of the week, we saw some USD strength, however the price action today shows the DXY is threatening the highs at 95.20. It is already starting to look like a bullish ABC pattern, however a break of 95.20 will confirm it. We can see a pull back of course, but the lows set during the ECB meeting, ...

__SpecialFX__ __SpecialFX__ PRO GBPUSD, 240, Short ,
GBPUSD: GBPUSD Wave Count & Outlook
77 0 2
GBPUSD, 240 Short
GBPUSD Wave Count & Outlook

The wave count indicates the bullish move occured from end of Feb lows at 1.3835 at 1.4515 highs on March 18. Since then we have started a bearish cycle. With in the bearish cycle we have already completed an ABC sequence lower to 1.4005 which marks Wave w. Looking for wave X to sell into for the next leg down, it looks like it is already in at 1.4418, ...

__SpecialFX__ __SpecialFX__ PRO USDJPY, 240, Short ,
USDJPY: 5 Reasons to short USDJPY
123 0 4
USDJPY, 240 Short
5 Reasons to short USDJPY

There has been hesitation in getting short usdjpy over the past month. Probably because of the strong up trend we have seen over the past few years. The pair has now switched to a bearish trend on all TF's 4H and up. There was also a fear of intervention from the BOJ, keep in mind, they have already attempted to surprise the market with a rate cut back in Jan ...

__SpecialFX__ __SpecialFX__ PRO CADCHF, 60, Short ,
CADCHF: Bear Flag in a Down Channel offers sell setups
41 0 2
CADCHF, 60 Short
Bear Flag in a Down Channel offers sell setups

CADCHF has shown rejection from the top of a down channel as it looks to be flagging in a larger down trend. Short setup while below upper channel line. Good setup from current levels with stops above the spike highs marked in the eclipse. Alternatively wait for the bear flag channel to show a down side break for a more conservative setup.

__SpecialFX__ __SpecialFX__ PRO USDCAD, 60, Short ,
USDCAD: Short Setup against TL from Highs & Resistance
141 2 3
USDCAD, 60 Short
Short Setup against TL from Highs & Resistance

USDCAD Faces strong resistance from a TL holding downside and hourly support turned resistance. Short setup for a continuation of trend to break lows and target 1.2800/1.2850

__SpecialFX__ __SpecialFX__ PRO XAGUSD, 60, Long ,
XAGUSD: Confluence Area for Low Risk Buy Setup
181 1 5
XAGUSD, 60 Long
Confluence Area for Low Risk Buy Setup

Silver is having a heavy down day on the daily, however the pair is still largely in an uptrend. With the DXY bouncing against it's 61.8% Fib, this may be an area to try a Long positions. The pair showing signs of bouncing on the 1H against a rising trendline, bottom of the channel, as well as an 88.6% Fib. with stops below the lows at 15.132 this offer's a ...

__SpecialFX__ __SpecialFX__ PRO GBPUSD, 240, Long ,
GBPUSD: Great R:R for a long position in GBPUSD
96 0 2
GBPUSD, 240 Long
Great R:R for a long position in GBPUSD

The GBPUSD looks to be in a bullish corrective structure. Looking for one more high towards the daily resistance area at 1.46 We are starting to see some buying near the bottom of the channel which confluences with the 88.6% Fib. The 4H Candle has yet to close, however, good risk to reward from this area with stops below the 1.40527 lows. A 1H or 4H bullish ...

__SpecialFX__ __SpecialFX__ PRO EURUSD, 60, Long ,
EURUSD: Confluence Area for buy setup
190 0 4
EURUSD, 60 Long
Confluence Area for buy setup

The USD is in a clear downtrend, and buying dips in the EURUSD is the preferred trade. Nice confluence zone here with the 61.8% Fib as well as the rising channel. An upside break of the smaller down channel displayed on the chart would confirm that the down move has completed and we continue higher. Targets for this setup are at 1.15. Stops below Daily ...

__SpecialFX__ __SpecialFX__ PRO AUDJPY, 240, Short ,
AUDJPY: Bearish Rejection at Channel Top & Fib
98 0 3
AUDJPY, 240 Short
Bearish Rejection at Channel Top & Fib

Nice 4H Rejection in a resistance confluence zone. The 88.6% Fib level and Channel top had the AUDJPY draw a doji followed by a big bear candle down. Short positions here offer great R:R with targets near lows. Wave Count shows a double correction down, having already finished the first leg, and pulling back in the second.

__SpecialFX__ __SpecialFX__ PRO USOIL, 60,
USOIL: Perfect Rejection from TL & 61.8% Fib - Updated Count
243 2 2
USOIL, 60
Perfect Rejection from TL & 61.8% Fib - Updated Count

Last week we saw oil bottom out and correct against the trend (see related idea). It looks like the correction has completed as price saw a sharp rejection from the Daily Trendline and 61.8% Fib. It looks like we are once again resuming the downtrend. Chart includes updated wave count. Please check the related ideas for the overall picture.

__SpecialFX__ __SpecialFX__ PRO USOIL, 60,
USOIL: Pullback Potential Area in Oil
259 1 5
USOIL, 60
Pullback Potential Area in Oil

Oil has been trading in a nice 1H Channel down for the week. The chart show potential for a wave count that calls for a completion in the 26 area From the spike high in the last week of Jan. Normally would like to see a higher high to confirm a reversal. But watching this area carefully. A breach above 1H highs at 27.43 would add some conviction to the ...

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