melvinljw

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Joined
Markets Allocation
76 % forex 6 % indices 18 % other
Top Mentioned Symbols
EURAUD 11% | 2 GBPJPY 11% | 2 GBPUSD 11% | 2 XAUUSD 5% | 1
melvinljw melvinljw USDCAD, D, Short ,
USDCAD: Short USDCAD
27 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
28 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
105 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
178 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
18 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

melvinljw melvinljw XAUUSD, D, Long ,
XAUUSD: Long XAUUSD,
128 0 9
XAUUSD, D Long
Long XAUUSD,

Inverse H&S, on daily/weekly chart Buy, 1174-1200 SL, 1159.2 TP 1, 1380 TP 2, Open

melvinljw melvinljw GBPUSD, W, Long ,
GBPUSD: Swing trade, Long GBPUSD
111 0 4
GBPUSD, W Long
Swing trade, Long GBPUSD

Elliot wave + Fibo retracement levels Elliot wave 5 could possibly have end with the "flash crash of the GBP" Looking for a 50% retracement of the down move to 1.34 level, which coincides with a long term downtrend stretching from 2014. Trade Idea : Long GBPUSD @1.238 SL : 1.2285 TP : Open, targeting 1.34, (May TP if bearish TA or fundamentals kick in)

melvinljw melvinljw EURUSD, W, Long ,
EURUSD: Long EURUSD, Swing/Macro Trade
120 0 8
EURUSD, W Long
Long EURUSD, Swing/Macro Trade

With the ECB set to start tapering their Quantitative Easing next year, it could mimic the reaction that the dollar went through, when the Fed signal that they were about to tapper. Current price action is also similar to what this pair went through from 2000-2002. FED (Quantitative Easing) > BOJ (Quantitative Easing) > ECB (Quantitative Easing) By the above ...

melvinljw melvinljw XAUUSD, W, Long ,
XAUUSD: Long XAU, Gold
45 0 2
XAUUSD, W Long
Long XAU, Gold

Gold has been on a uptrend since the early 2000s, due to excessive loose monetary policies by the world central banks. After each crisis, the solution was to do more of the same thing. Looser monetary policy, and we have even ventured into Quantitative Easing, negative interest rates. This to me is akin to giving a patient pain killers. I see a time of reckoning ...

melvinljw melvinljw GBPJPY, D, Long ,
GBPJPY: Long GBPJPY
77 0 5
GBPJPY, D Long
Long GBPJPY

This pair has plunged extraordinarily from 2015 to date. This is mainly due to the extremely weak sterling, and strong Yen (Risk Aversion). We have seen a stabilization of the GBP in recent weeks/days, and on several JPY crosses that seem to suggest Yen strength is fading. This could lift this pair significantly, because of the sheer size of the plunge. Bear in ...

melvinljw melvinljw EURAUD, D, Short ,
EURAUD: Short EURAUD
34 0 3
EURAUD, D Short
Short EURAUD

https://www.tradingview.com/x/WDgrRt6D/ Current price action retesting broken triangle support line at 1.448 - 1.453 Macro favours a short position as well, as the RBA looks increasing likely to end its easing cycle, while the ECB mulls additional stimulus in its Dec meet. Height of triangle : Approx. 1,700 pips Trade Idea: Short : 1.45-1.453 SL : 1.463 ...

melvinljw melvinljw EURAUD, D, Short ,
EURAUD: Short EURAUD
22 0 3
EURAUD, D Short
Short EURAUD

Broken triangle pattern, with previous support (1.448 - 1.453). now turn resistance. Macro is also supporting a short of this pair, with the RBA looking to end its easing cycle, while the ECB mulls expanding stimulus in its Dec meeting. Height of triangle pattern = Approx. 1,700pips. First target, half of triangle : Approx. 850pips, 1.37-1.38 (2014/2015 ...

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