mleader1

mleader1

AUDUSD had retraced back down at 0.382 fib level since the rise on 23rd, Aug, which is reasonably deep (I was expecting 0.236 level ). If price goes down below 0.73356 I'll expect worse scenario that it want to go down to 0.72917. Given the fact that this pair has been in consolidation and creating higher lows, it's reasonable to think it will go up to retest...

mleader1

Weekly it didn't manage to create either higher high or higher low, which shows weak strength in GBP in the past week. On daily it was supported by some strong up movement however did not manage to stay within the newly formed mini-uptrend channel after rising back in on Friday. I expect it to retrace back up to 1.38503 or max 1.38578 then continue it's down...

mleader1

Journey to the upside resumes. On monthly chart it's huge June engulfing green candle is showing it's power of support to the upside. On weekly, it continued to create higher lows despite of past 2 week's of downtrend movement. On daily, it was near the edge of breaking out from newly formed uptrend channel, but managed to bounce back up in the past few...

mleader1 Updated 

GBPUSD enjoyed a super bullish movement today (unfortunately I wasn't at my desk). It managed to pierce into the newly formed mini uptrend channel however fell back down in the last few hours. I expect it to retest once again and fail again close around 1.385 and then fall backdown for a decent retracement. Both US and UK has some strong economy data to be...

mleader1

AUDUSD bounced back up after retesting the low of previous day creating a higher low for the day. If it closes green on Friday, I would consider it completes the 0.382 retracement of the past 2 weeks gain, and continue heading further up. SL: below 0.73455 - lower than 0.734 even safer but invalidates the setup TP: Fib based, can go higher and break out if US...

mleader1

High RISK due to strong GBP movement at the moment. GBPAUD reached to previous support level, which may have turned into supply zone introducing sellers. RSI on lower time frames are also very much over bought, so a cool down period should be expected. SL: above 1.87826 TP: Fib 0.236 of recent gain GL

mleader1

GBPJPY has experienced down movement in the past few days and has now reached to a level where I believe a bounce required. It has just managed to hit into the previous strong support zone and immediately bounced back up. I expect it to go down a bit further possibly to seek for SL and then go straight back up. SL: below 151.35 TP: fib based, targeting 151.867...

mleader1 Updated 

Similar to USDJPY, GBPJPY has reached to it's mini down-trend daily trend line. RISK: it has been consolidating in the past few days - it can either break out going up, or going back down. SL: above key resistance and surely above the mini-trend line -- however currently the price simple dropped very quickly, so I guess we are at the safe side. If you want to...

mleader1 Updated 

GBPUSD is back on the trend line again. With DXY reaching to its Fib resistance (20 Aug high to last Friday's low), I think GBP will survive for a short run. It has potential to resume it's uptrend move, but for now I'm aiming to a fib retracement of previous fall. Entry: 1.37571; but should above 1.37492 and below 1.3768 SL: below 1.374 - lower than 1.37353...

mleader1

USDJPY has reached to to upper channel of a mini ascending channel within it's main weekly up-trend channel, currently at point of forming either double top or ascending wedge pattern if rises a bit higher. The price is also at a key resistance level in history. Since the RISK on lower times have all reached to its over bought level, I expect the price to go...

mleader1

I was expecting a retest around 0.739 and then AUDUSD moving back up, however, it seems that's not the case and it's looking for a deeper retracement. I will be looking for buying opportunity if price does go back up above 0.7407, but for now I'll be looking to short which seems to be less risky. SL: again very tight, you may want to put it up above 0.7407...

mleader1

GBPUSD has just attempted a deeper retest and possible to enter into the lower support zone and bounce back up further, hence a possibility to retest Friday's high. Gold has also just done the same thanks to DXY movement, so let's see how it plays. related chart attached. HIGH RISK - As GBPUSD is due for a deep correction. Check DXY chart below to have a feel....

mleader1

Let's see how it plays. Weekly trend line up still possible, daily chart correction needed, 4H, 2H shows consolidation commencement. So I expect big movement coming in the next few days. Given the US data last week was pretty bearish, there is still a chance it goes down - however that'll require very hard push from sellers as not far away there's a strong...

mleader1

Today I'm only having AUDUSD pairs 1 activated trade and 1 pending trade. AUDUSD seems to have bounced back from 0.74293 area this morning on hourly and if it close in green on 4H chart shortly, it should go back up slightly more. However it did reach to a strong resistance level at 0.74780 on Friday and then aggressively dropped back, which is also at close...

mleader1

I made some loss on GBPUSD trade today as I was bias bearish GBPUSD believing it has reached its limit (no more daily higher high) - while I was wrong and that made a small dent in my master account... Here's one more of my trade setup (trade entered already), and I'm still bias dollar bullish. RISK: My upper down trend channel has already been broken by GBP's...

mleader1

Here comes my day trade analysis on DXY again. Tomorrow's is going to be a scary day as we all can feel the accumulation in buying/selling power. USD has a mixed economy data today, not bad but DXY continued going downward. If connecting to fundamental analysis, I think investors might think the overall economy recovery of other countries comparing with US is...

mleader1

Making slight profit now, hopefully it goes to the right direction. I also hope those who entered early this morning didn't make huge loss! I believe AUDUSD has completed its current stage rise (a little bit higher than expected) and reached to the previous key resistance and supply zone, now requiring at least 0.382 fib correction. Reason: historical key level...

mleader1

GBPUSD has rallied a few days and creating higher highs and did not manage to continue higher highs from yesterday (September). I suspect if it doesn't break high (i.e. US news positive), it may start retracing back down agressively. Not much analysis here, just an idea with with very small lot size since I'm done for today. SL: above previous historical...