jakeparkin

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About me Simple, high probability price action setups.
Joined UK jakeeparkin
Markets Allocation
100 % forex
Top Mentioned Symbols
GBPUSD 33% | 5 USDJPY 20% | 3 AUDUSD 13% | 2 GBPJPY 6% | 1
jakeparkin jakeparkin USDCAD, D, Long ,
USDCAD: Long USDCAD Due To Confluent Price Action
31 0 2
USDCAD, D Long
Long USDCAD Due To Confluent Price Action

I have entered a buy stop on USDCAD at 1.3015 with a stop loss at 1.2845 due to the daily pin bar and rejection off of the two lowest red bars, two strong levels of support that price has rejected. If the 1.2845 level is reached before our buy stop has been triggered then this trade becomes invalid and I will cancel the order.

jakeparkin jakeparkin AUDNZD, W, Short ,
AUDNZD: Short PA Signal on AUD/NZD
16 1 2
AUDNZD, W Short
Short PA Signal on AUD/NZD

AUD/NZD presents a fantastic short opportunity on the Weekly chart. A pin bar formed at major resistance, although there are some trouble areas closer to CMP than the target area.

jakeparkin jakeparkin AUDUSD, D, Short ,
AUDUSD: Short Aussie Dollar at Resistance
50 1 2
AUDUSD, D Short
Short Aussie Dollar at Resistance

Aussie Dollar today bounced off of a key area of resistance at around 0.757. I have an order to sell AUDUSD at 0.7485, a break of the pin bar's low. Our first target is around the 0.737 level.

jakeparkin jakeparkin GBPJPY, D, Short ,
GBPJPY: Nice PA on GBPJPY for a Short
36 0 1
GBPJPY, D Short
Nice PA on GBPJPY for a Short

I'm looking to short GBPJPY at around 160.50, a break of the daily pin due to confluence with a support turned resistance level. We also have some nice downside potential for this trade.

jakeparkin jakeparkin EURGBP, D, Long ,
EURGBP: Long Euro Pound based on Fundamentals and Confluent Price Action
58 1 2
EURGBP, D Long
Long Euro Pound based on Fundamentals and Confluent Price Action

I have gone long the EUR/GBP due to confluence with fundamental central bank policy from the Bank of England and bouncing from a decent level of prior resistance turned support. This trade offers a good risk reward scenario also.

jakeparkin jakeparkin GBPUSD, D, Long ,
GBPUSD: Long Cable due to Daily Engulfing Bar
64 1 1
GBPUSD, D Long
Long Cable due to Daily Engulfing Bar

I see no clear fundamental reason why Sterling has fallen as much as it has over the past couple of weeks, and with a clear engulfing bar on the daily I would expect some upward momentum on this pair.

jakeparkin jakeparkin GBPUSD, D,
GBPUSD: 2 Scenarios on Cable
44 0 1
GBPUSD, D
2 Scenarios on Cable

Cable is, in my opinion, a difficult pair to trade based on Fundamentals at the minute. One of two scenarios I'll be trading. If we get a break of this medium-term bullish channel, then I'm eyeing 1.52 area as a short target. If we get a bounce that, at the time of writing, is looking more likely, then I'll be long looking at a target of 1.615 area, confluence ...

jakeparkin jakeparkin GBPUSD, D, Short ,
GBPUSD: GBPUSD SHORT AHEAD OF EXPECTED STRONG U.S. DATA
48 0 1
GBPUSD, D Short
GBPUSD SHORT AHEAD OF EXPECTED STRONG U.S. DATA

The Dollar was lifted again on Friday after a very good NFP reading. This, coupled with some expected strong data this week, should contunue to support the U.S. Dollar into next week. Investors are looking to that first rate hike.

jakeparkin jakeparkin USDJPY, 60, Short ,
USDJPY: Dollar Yen Short ahead of U.S. Data
83 0 1
USDJPY, 60 Short
Dollar Yen Short ahead of U.S. Data

I'll be looking to sell Dollar Yen ahead of this week's upcoming data which is mostly forecast to be worse than previous, including Retail Sales and PPI. Japanese Yen is likely to carry on having safe haven flows.

jakeparkin jakeparkin EURJPY, 60, Short ,
EURJPY: Short Euro Ahead of German GDP and JPY Risk Flows
20 0 1
EURJPY, 60 Short
Short Euro Ahead of German GDP and JPY Risk Flows

One of my ideas for the week is to short the Euro against the Japanese Yen ahead of German GDP figures due to be released on Wednesday. This is forecast to come in worse than previously, and I believe we will still have a lot of risk flows to the Japanese Yen after the UK election, as well as problems in the Euro with Greece and an uncertain U.S. Dollar future.

jakeparkin jakeparkin GBPUSD, 240, Long ,
GBPUSD: Cable Long Ahead of Fed Meeting
35 0 1
GBPUSD, 240 Long
Cable Long Ahead of Fed Meeting

We're expecting a lot of weakness in the U.S. Dollar because of the Fed's upcoming meeting on Wednesday where we're not expecting them to be hawkish, or as hawkish as they have been.

jakeparkin jakeparkin USDJPY, 240, Short ,
USDJPY: Dovish Fed Expected, Dollar Yen Sell-Off
25 0 2
USDJPY, 240 Short
Dovish Fed Expected, Dollar Yen Sell-Off

We have two huge risk events coming from the U.S. this week, both on Wednesday. GDP is expected to fall massively from the last reading, and with the recent string of bad data from the U.S., we're expecting some more dovish comments from the Fed on Wednesday. Short the Dollar.

jakeparkin jakeparkin GBPUSD, 60, Short ,
GBPUSD: Cable Short ahead of data release
52 0 1
GBPUSD, 60 Short
Cable Short ahead of data release

I'm looking to short Cable at around the 1.4690 level. Reasons: we have some strong US data expected on Tuesday which should create some positive sentiment around the Dollar, and we also have CPI coming from the UK which is expected to be flat. This coupled with the UK elections creates uncertainty in Sterling, and should give some negative sentiment.

jakeparkin jakeparkin USDJPY, 60, Long ,
USDJPY: Strong Dollar Anticipated
23 0 2
USDJPY, 60 Long
Strong Dollar Anticipated

We're expecting Dollar Yen to reach back up to the 120.60's area, hopefully with a pullback to the 120 / 119.90 area to get in long. This is due to some strong Dollar news expected on Tuesday so sentiment for the Dollar will be very positive.

jakeparkin jakeparkin AUDUSD, 240, Short ,
AUDUSD: AUDUSD Short - Fundie Based
33 0 1
AUDUSD, 240 Short
AUDUSD Short - Fundie Based

We've got some weak news forecast all week for the Aussie Dollar, a fundamentally strong currency is the Dollar so matching strong with weak, this should provide more downside towards the fair price of this pair.

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