asiansupermarket

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Joined Canada
Markets Allocation
93 % forex 6 % stocks 1 % indices
Top Mentioned Symbols
NZDJPY 5% | 5 USO 5% | 5 AUDNZD 4% | 4 EURUSD 3% | 3
asiansupermarket asiansupermarket USO, 240, Long ,
USO: USO - 1yr 4hr last shot in the wedge
21 0 2
USO, 240 Long
USO - 1yr 4hr last shot in the wedge

There's not much room left to trade in this range for "quick" trades. We can hit one last one with 2:1 risk/reward. I have been opening a half short position at the top of the range after closing out the long to profit as much as possible off this pattern. Looking at past summers and this wedge I can be optimistic for a big move.

asiansupermarket asiansupermarket USO, 240, Long ,
USO: USO - 1yr 4hr long for the long haul
143 0 5
USO, 240 Long
USO - 1yr 4hr long for the long haul

The trade: as mentioned before, short term we can sell puts because our mission is to get a long position. For the quick play, a long position with stops below the wedge for the short term continuation of the trend. Range is getting tight so I won't be betting the farm until there's a clean break with confirmation of a new trend. Examples of ...

asiansupermarket asiansupermarket USO, 120, Short ,
USO: USO 1yr 2hr wedge range bound continues
132 0 6
USO, 120 Short
USO 1yr 2hr wedge range bound continues

Looks like we can take another stab at the range bound wedge run. It is getting fairly tight - faked out once so far to the downside. Lots of volume on here and usoil futures, could be indicative of a bottom for the down trend, not going to look too deep into it since we know how many bs contracts are open. Possibility of a rough head + shoulders which would ...

asiansupermarket asiansupermarket USO, 120, Short ,
USO: USO 2hr 1yr downside wedge breakout
85 0 3
USO, 120 Short
USO 2hr 1yr downside wedge breakout

For the long term I am absolutely long crude + us oil companies due to fundamental reasons but the chart at the moment looks like it is about to breakout down. I have already a short built from ~11 but this is a new trade to play the breakout.

asiansupermarket asiansupermarket USO, 120,
USO: USO 2hr 1yr closing wedge
105 0 2
USO, 120
USO 2hr 1yr closing wedge

Range bound inside a closing wedge until the inevitable breakout; play top to bottom and back up until the break out.

asiansupermarket asiansupermarket AUDJPY, 120, Long ,
AUDJPY: AUDJPY 2hr 4mo breakout
35 0 2
AUDJPY, 120 Long
AUDJPY 2hr 4mo breakout

looks like consolidation along the upper edge of the wedge. A breakout to the upside is highly likely.

asiansupermarket asiansupermarket SGDJPY, 120, Long ,
SGDJPY: SGDJPY 2hr 4mo wedge breakout
20 0 1
SGDJPY, 120 Long
SGDJPY 2hr 4mo wedge breakout

late to the party but the order is open in case we get a pull-back

asiansupermarket asiansupermarket EURJPY, 60,
EURJPY: EURJPY 1hr 2mo wedge breakout
29 0 4
EURJPY, 60
EURJPY 1hr 2mo wedge breakout

crossing short term MA and the big blue holding as resistance at the top of the wedge. If we break through that there is significant upside coming; downside is a trade with the trend to at least the bottom of the wedge

asiansupermarket asiansupermarket NZDCAD, 120,
NZDCAD: NZDCAD 2hr 4mo breakout
37 0 3
NZDCAD, 120
NZDCAD 2hr 4mo breakout

tightening range, clumping moving averages, volatility

asiansupermarket asiansupermarket USDCNH, 120,
USDCNH: USDCNH 2hr 4mo wedge breakout
35 0 2
USDCNH, 120
USDCNH 2hr 4mo wedge breakout

Tight range, tight moving averages, recent usd/cnh volatility. Note the dark blue MA which may act as support for the bottom of the wedge. We want a candle printed below it for confirmation of support collapsing before we enter. We don't want to be first in the trade; we want to be correct.

asiansupermarket asiansupermarket USDILS, 60,
USDILS: USDILS 1hr 1mo wedge breakout
29 0 1
USDILS, 60
USDILS 1hr 1mo wedge breakout

Tightening range, tight moving averages, recent usd volatility, you know the drill.

asiansupermarket asiansupermarket USDPLN, 60,
USDPLN: USDPLN 1hr 1mo wedge breakout
36 0 1
USDPLN, 60
USDPLN 1hr 1mo wedge breakout

Range tightening, clumping moving averages, and extremely choppy. It looks like this pair is like USDSEK; low liquidity and plenty of chop which means fake outs will probably stop us out before it actually moves. This means that we will probably break even on the downside breakout but if it goes to the upside we have potential for proper gains.

asiansupermarket asiansupermarket USDSGD, 120, Short ,
USDSGD: USDSGD 2hr 4mo wedge breakout
40 0 3
USDSGD, 120 Short
USDSGD 2hr 4mo wedge breakout

Break down through the bottom of the wedge. This is a higher time frame than my usual trades; not 100% conviction on the shape of the wedge. Moving averages are clumped and range has recently tightened.

asiansupermarket asiansupermarket USDMXN, 60,
USDMXN: USDMXN 1hr 1mo descending wedge breakout
56 0 3
USDMXN, 60
USDMXN 1hr 1mo descending wedge breakout

A short side breakout will be a sharp drop; long side will be a slow grind higher. Range is tightening as shown by the clumping moving averages.

asiansupermarket asiansupermarket USDNOK, 60,
USDNOK: USDNOK 1hr 1mo breakout
36 0 3
USDNOK, 60
USDNOK 1hr 1mo breakout

Tightening range, clumped moving averages, volatility in crude.

asiansupermarket asiansupermarket EURAUD, 60,
EURAUD: EURAUD 1hr 1mo descending wedge
149 0 2
EURAUD, 60
EURAUD 1hr 1mo descending wedge

Descending wedge that I would prefer to be on the short side once it breaks that support level because it will be a sharp drop. If it bounces along that support we can expect a grind upwards.

asiansupermarket asiansupermarket AUDCHF, 60,
AUDCHF: AUDCHF 1hr 1mo wedge breakout
54 0 1
AUDCHF, 60
AUDCHF 1hr 1mo wedge breakout

Range is tightening, moving averages are flat, lots of wicks to show the boundary of the wedge. This all shows indication of an impending breakout.

asiansupermarket asiansupermarket USDCHF, 60,
USDCHF: USDCHF 1hr 1mo wedge breakout either side
93 0 2
USDCHF, 60
USDCHF 1hr 1mo wedge breakout either side

Price range is getting smaller showing the possibility of a breakout. Moving averages are all tight so not sure how far it will move; it could be indicative of a big move if they all act as support/resistance.

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