Idea: Expecting a short term sell off to 32.50 based entirely on technicals. Cons: Upside strength and retest of 33.97 is a possibility. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your...
The upcoming ECB meeting is in 24hrs and is expected to focus on the lack of inflation instead of tapering of the ECB bond purchases. General consensus is one of fearfulness and a move down is expected before going higher. The euro has a current upside of 1.162 and a downside of 1.13 as key support. The strength of the eurusd suggests we will not reach 1.13...
Gold resuming short trend with an expected upside of 1247. Further selling to at least 1202 in the coming sessions. Price action between 1202 and 1198 could see accelerated selling or a sharp bounce. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading...
DXY has respected the 4hr resistance level over the past few sessions but has not yet made a significant break long or short. To confirm further upside a break long of 12750-12820 is needed with support seen at 12515-12470. Looking for a sell off when price confirms a strong break short under 12470. DISCLAIMER: This is where I practice ideas and work on my...
USDCAD drifted slightly sideways in the past few session & not particularly giving away its intention to retrace or continue short. For further selling I would expect price to show resistance between 1.27-1.2745. Breaking this would signal a stronger retrace. For further short trend continuation a break short at 1.25945-1.25639 would re-confirm the...
WTI has recently bounced long but in the previous sessions it is drifting without any strong directional confirmation. For the upside to continue I am expecting price to hold long above the 45.65-45.80 zone and also show increasing strength through 46.70-46.94 to confirm upward pressure. DISCLAIMER: This is where I practice ideas and work on my trading...
DXY has sold through an area or support at 95. For the trend to remain and reconfirm short, a retrace no stronger than 95.45 would be expected. Further selling down to the 95.60-94.20 zone for a short trend extension. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own...
GBPUSD is in an important short reversal zone but showed strength in the previous session. CPI announcement today could be the key to sterlings reversal. The past few sessions have not seen any sideways movement in price or slowing of the recent long trend. For long continuation technically price needs to hold above 1.3040 and then also show further strength...
Idea: For price to remain short and a continuation of the current downward movement, the range of 1.1424 and 1.14337 need to be held. Cons: Price breaking long through resistance may cause a retest of 1.14717 and possibly 1.15038 in the Monday session. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice....
Idea: GBPUSD 0.43% 0.04% has shown weakness off the 4hr RSI over bought. There is continued weakness off the Daily and Weekly time frames. Expecting to see price weaken at 1.30265 into a retracement. This would correlate with my expected DXY long trade. Trade Management: A break long over 1.3125 indicates more sterling strength than expected and a continuation...
Don't fight the trend & the trend is clearly short. Don't catch a falling knife. Wait for the pull back before further selling. Psychological level to reconsider shorting at or above 1.3 If it looks too easy to short.... it probably is! DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am...
Idea: Price is approaching a 4hr area of resistance that fits also with a daily resistance area. 4hr resistance 0.77164 - 0.77520 Pros: The trend idea fits with the reversal idea in copper and strength of the dxy that I have been working on. The aussie could fall back into the monthly short trend from here. Cons: Increased strength above 0.7752 indicates...
Idea: Copper has seen monthly resistance and not made a new high since Febr 2017. If copper is to return to the monthly down trend, it will see strong resistance around 2.68669 and will be unable to break 2.72675. Pros: Profit to the down side and retest and extension of the lows provide great risk reward. Targets are set at 2.46629 4hr retrace 2.06214 Daily...
Idea: GBPUSD 0.04% has shown weakness off the 4hr RSI over bought . There is continued weakness off the Daily and Weekly time frames. A long retest on 1.30267 is likely before a stronger downward move. Trade Management: A price break down through 1.2820 in the next session will eliminate the move long and signal stronger than expected downward pressure. A break...
Idea: EURUSD is at the weekly RSI weekly OB and has reached a resistence zone. A break over 1.15258 would indicate a continued upward strength with more & buying. A break short of 1.14717 from here would give a sell off to 1.11921 and 1.09095 back into the monthly short trend. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is...
USDCAD possible retracement if price can break long through the resistance area . If price respects the resistance area we could expect continued downward pressure. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading...
Idea: I am expecting the long to have reached its maximum price limit at 8.51719 with a possible extension to 8.60216. Cons: The bottom has to hold at 8.31157.
Idea: Testing the expected price movement down to 1.28919 followed by strength to 1.29306 in the expected time frame. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence...