ankurlakhotia

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Joined
Markets Allocation
61 % forex 6 % stocks 3 % indices 30 % other
Top Mentioned Symbols
EURUSD 12% | 4 GBPUSD 12% | 4 USDJPY 12% | 4 DXY 9% | 3
ankurlakhotia ankurlakhotia RUT, D, Short ,
RUT: RUT - The barrier stands hard
22 0 2
RUT, D Short
RUT - The barrier stands hard

RUT has been moving in a broadening triangle pattern since past 8 months. Although we are seeing new highs and new lows over the past 8 months the RSI (14) has failed to move above 65 consistently which is not a good sign.

ankurlakhotia ankurlakhotia EURUSD, W, Short ,
EURUSD: EURUSD - Looking for a short term top
122 0 9
EURUSD, W Short
EURUSD - Looking for a short term top

EURUSD has been on a tear taking major shorts for a ride. At present prices have approached the resistance zone with weekly RSI hovering around 70 which has not been sustainable since past 7 years. A good short trade can be opened here for a decent risk to reward ratio.

ankurlakhotia ankurlakhotia USDJPY, 240, Long ,
USDJPY: USDJPY - RSI (14) fractal
35 0 2
USDJPY, 240 Long
USDJPY - RSI (14) fractal

The 240 min chart of the pair shows positive divergence in RSI(14) momentum indicator. The divergence was also seen when prices traded around 109 level after which a strong rally was witnessed till 114.40 levels. The present chart structure and divergence appear similar.

ankurlakhotia ankurlakhotia USDJPY, D, Long ,
USDJPY: USDJPY  - Testing support
26 0 7
USDJPY, D Long
USDJPY - Testing support

USDJPY on the daily chart is testing the level of 111.70 which has acted as support and resistance level multiple number of times.

ankurlakhotia ankurlakhotia DXY, D, Long ,
DXY: Dollar Index - Case for a bottom and a larger bounce
30 0 5
DXY, D Long
Dollar Index - Case for a bottom and a larger bounce

Dollar index on the daily chart is moving in a falling channel pattern since its top in January 2017. The EURUSD pair along with GBPUSD are nearing the resistance zone on the weekly scale indicating a top formation. Development of 1st positive divergence on the daily chart supports stance for a bottom.

ankurlakhotia ankurlakhotia EURUSD, 60, Long ,
EURUSD: EURUSD - Back to buying zone
50 0 4
EURUSD, 60 Long
EURUSD - Back to buying zone

Post NFP last week EURUSD has been consolidating in the range of NFP and at present is in the buying zone which can start the next leg higher in the pair.

ankurlakhotia ankurlakhotia DXY, D, Long ,
DXY: DOllar Index - Case for a bounce
40 0 6
DXY, D Long
DOllar Index - Case for a bounce

Dollar index at present is moving in a channel pattern. At present it is a lower end of the channel pattern. With RSI hovering near lows. Indicating a bounce in short term

ankurlakhotia ankurlakhotia USOIL, D, Short ,
USOIL: Crude oil - Testing breakdown trend line
105 0 6
USOIL, D Short
Crude oil - Testing breakdown trend line

Crude oil after making a low just under $44 is testing its breakdown trendline. A good place to look for a reversal

ankurlakhotia ankurlakhotia USDJPY, 120, Short ,
USDJPY: USDJPY - Short term sell trigger
39 1 5
USDJPY, 120 Short
USDJPY - Short term sell trigger

USDJPY has broken trend line support along with negative divergence on RSI (14). A good short candidate

ankurlakhotia ankurlakhotia EURUSD, 120, Long ,
EURUSD: EURUSD - Bullish Shark pattern
35 0 4
EURUSD, 120 Long
EURUSD - Bullish Shark pattern

EURUSD has formed a bullish shark harmonic pattern on 120 mins chart and at CMP can be a good long bet

ankurlakhotia ankurlakhotia GBPUSD, 240, Long ,
GBPUSD: GBPUSD - 50% retracement to support
23 0 5
GBPUSD, 240 Long
GBPUSD - 50% retracement to support

GBPUSD is bouncing of 50% Fibonacci retracement of the current rise indicating buying support.

ankurlakhotia ankurlakhotia XAUUSD, D, Long ,
XAUUSD: XAUUSD - Its time to take some long position.
60 0 5
XAUUSD, D Long
XAUUSD - Its time to take some long position.

The yellow metal is touching important trend line support on the daily chart which is third point on trend line. A third touch point always acts as important support as it is a fibonacci number.

ankurlakhotia ankurlakhotia XAGUSD, 240, Long ,
XAGUSD: XAGUSD - Bottom in place
36 0 4
XAGUSD, 240 Long
XAGUSD - Bottom in place

XAGUSD on 4 hour chart has given a breakout from an inverted head & shoulder pattern with neckline at 17.26 level. Any dip near to the neckline is a good opportunity to go long for a target of 18.80 - 19. The stop loss for the trade can be placed at 16.50 level.

ankurlakhotia ankurlakhotia GBPUSD, 240, Long ,
GBPUSD: GBPUSD - Heading North
23 0 7
GBPUSD, 240 Long
GBPUSD - Heading North

GBPUSD after peaking near 1.2675 retraced back to 1.2400 level. At present on the 4hr chart we are witnessing a AB=CD pattern completion which also lead to retest of previous breakout point. The pair is likely forming an inverted head and shoulder pattern with neckline placed at 1.2660. At current level the risk to reward ratio looks favorable for long position.

ankurlakhotia ankurlakhotia USDJPY, 240, Short ,
USDJPY: USDJPY - Short term down move
30 0 5
USDJPY, 240 Short
USDJPY - Short term down move

USDJPY on the 4hr chart has formed a bearish bat harmonic pattern. On can expect it to correct till 114 level going forward. Invalidation point for the pattern is 115.70

ankurlakhotia ankurlakhotia USDJPY, 240, Long ,
USDJPY: USDJPY - Likely to move higher again
22 0 3
USDJPY, 240 Long
USDJPY - Likely to move higher again

USDJPY on 4hr chart is exhibiting first degree of positive divergence indicating short term bottom in place. The major resistance for the pair is around 114.80 level above which it can test 116 - 118 levels.

ankurlakhotia ankurlakhotia EURUSD, 240, Short ,
EURUSD: EURUSD - Short term top
27 0 2
EURUSD, 240 Short
EURUSD - Short term top

EURUSD pair has been moving in a wedge like formation on the 240 min chart. We are now witnessing exhaustion sign at the top end of the wedge along with first degree of negative divergence on the RSI indicator. The initial target can be placed at 1.0625 which is the lower trend line of wedge.

ankurlakhotia ankurlakhotia AUDUSD, 240,
AUDUSD: AUDUSD - Short term top in place
8 0 2
AUDUSD, 240
AUDUSD - Short term top in place

AUDUSD on 4 hour chart is forming an evening star candlestick pattern. Looking at overall structure on daily chart it looks like a top for the short term is placed at 0.75876 level, giving an excellent risk to reward ratio on the short side. Looking for 0.7450 in the short term

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