melvinljw

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Joined
Markets Allocation
80 % forex 4 % indices 16 % other
Top Mentioned Symbols
EURAUD 12% | 3 GBPJPY 8% | 2 USDCAD 8% | 2 EURJPY 8% | 2
melvinljw melvinljw USDJPY, D, Long ,
USDJPY: Long USDJPY, Breakout of downtrend
65 0 8
USDJPY, D Long
Long USDJPY, Breakout of downtrend

Simple breakout. Long to 115.1 area of resistance

melvinljw melvinljw EURAUD, W, Short ,
EURAUD: Short EURAUD. Downtrend channel
49 0 5
EURAUD, W Short
Short EURAUD. Downtrend channel

Clear downtrend on the weekly. Current price action rejected at upper channel. H4 also showed a bearish engulfing candle. 2 possible scenerios to the downside.

melvinljw melvinljw NZDJPY, W, Long ,
NZDJPY: Long NZDJPY, Bullish engulfing on the weekly
25 0 5
NZDJPY, W Long
Long NZDJPY, Bullish engulfing on the weekly

Long NZDJPY Bullish engulfing on the weekly chart, and broken a down trend line on the daily. Price action also seem to suggest a 2nd shoulder forming. But lets not get too excited until it breaks 83.8. Entry : 77.65 SL : 76.88 TP : 83.6

melvinljw melvinljw DXY, D, Long ,
DXY: DXY, Bullish Pennant
30 0 7
DXY, D Long
DXY, Bullish Pennant

Long DXY. = Short EURUSD. Since EUR is the heaviest component

melvinljw melvinljw EURJPY, W, Short ,
EURJPY: EURJPY
79 0 3
EURJPY, W Short
EURJPY

Elliot Wave Theory. Prediction of movement EURJPY. Current price structure corrective at wave 4, complex C. Short at 122.1 to target D level.

melvinljw melvinljw EURJPY, D, Short ,
EURJPY: SHort EURJPY
66 0 5
EURJPY, D Short
SHort EURJPY

Wedge Short : 122.1 SL : 123.2 TP : 116.4

melvinljw melvinljw USDCAD, D, Short ,
USDCAD: Short USDCAD
51 0 5
USDCAD, D Short
Short USDCAD

Price has been trading in a new uptrend channel. Current price at the top of the range of the channel. Good RR. Short : 1.366 SL : 1.371 TP : 1.332

melvinljw melvinljw GBPJPY, 240, Long ,
GBPJPY: GBPJPY Breakout, Resistance turn support level
94 0 5
GBPJPY, 240 Long
GBPJPY Breakout, Resistance turn support level

GBPJPY has broke out of a bullish triangle formation. Expecting follow through of the run up. Resistance turn support area at 139.9-140.5

melvinljw melvinljw USDCAD, D, Short ,
USDCAD: Short USDCAD
30 0 4
USDCAD, D Short
Short USDCAD

DXY breakdown. Oil up. Natural pair to short. USDCAD. Shorting it back to swing low near 1.246, which coincides with a long term parallel uptrend.

melvinljw melvinljw USDOLLAR, D,
USDOLLAR: Long EURUSD, Short USDJPY
29 0 8
USDOLLAR, D
Long EURUSD, Short USDJPY

USDOLLAR Index H&S pattern. Break of uptrend line and backtesting broken trendline-neckline of H&S. Since EURUSD and USDJPY has the most significant weighting in the USDOLLAR index, expecting huge moves on both pairs soon.

melvinljw melvinljw GBPUSD, D, Short ,
GBPUSD: Short GBPUSD
106 0 11
GBPUSD, D Short
Short GBPUSD

Bearish Elliot 5 Wave structure since Brexit. Impulse Wave 5 to begin, after Wave 4, ends. Short : 1.259 SL : 1.2715 TP : 1.19

melvinljw melvinljw GBPJPY, D, Long ,
GBPJPY: Long GBPJPY. Bull Flag
87 0 6
GBPJPY, D Long
Long GBPJPY. Bull Flag

Long GBPJPY to 38.2% retracement levels from overall fall from 194.75.

melvinljw melvinljw USDJPY, 240, Long ,
USDJPY: Long USDJPY
99 2 8
USDJPY, 240 Long
Long USDJPY

Inverse H&S Long : 112.7 TP : 118.4 SL : 111.45

melvinljw melvinljw SPX, W, Short ,
SPX: Prediction of S&P 500 Chart
179 0 7
SPX, W Short
Prediction of S&P 500 Chart

End of bull market. -100% extension of fall from 1555 to 740 = 815 points. -1555 + 815 = 2370 (Market top) Ending Elliot Wave 5 of the recent rally. Prediction : 5 wave downtrend (Bear market)

melvinljw melvinljw GBPCAD, D, Long ,
GBPCAD: Long GBPCAD
19 0 5
GBPCAD, D Long
Long GBPCAD

Entry : 1.66 SL : 1.649 TP : 1.751

melvinljw melvinljw AUDCAD, D, Long ,
AUDCAD: Swing, Long AudCad
35 0 5
AUDCAD, D Long
Swing, Long AudCad

Simple price action with fibo levels. Long : 0.989 SL : 0.981 TP 1 : 1.036 (Recent swing high) TP 2: 1.071 (38.2% fibo expansion + 2012-2013 highs)

melvinljw melvinljw EURJPY, D, Short ,
EURJPY: Short EURJPY
59 0 4
EURJPY, D Short
Short EURJPY

Top of dominant downtrend

melvinljw melvinljw NZDUSD, D, Short ,
NZDUSD: Short NZDUSD,
66 0 6
NZDUSD, D Short
Short NZDUSD,

Simple break and retest channel. Short : 0.715 SL : 0.721 TP: 0.669

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EURUSD
EURO / US DOLLAR
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