salsapete

salsapete

EURAUD from 2008 -2012 has a major wave down. Since then in consolidation in an ascending wedge. Possibly wave c has recently completed , and the EURO may be about to descend in the 4th d wave. It would not be unreasonable for price to correct to the 200 MAV ( and the .382 fib retracement) at around 1.52 The suggested trade idea for a short is on chart......

salsapete

Gold last week has formed a clear rejection pinbar. The weekly RSI is nearly at a multiyear high.... At some point soon gold needs to correct to the 20 and 50 MAV's , before once again moving up. Its difficult to short gold, but at current price , you may want to wait for a correction before reentering a long.....

salsapete

The Pound Kiwi is on the rise in a 5th wave (E) of a long standing triangular consolidation. A long could be considered with 1. Entry at 200 MAV 2. Target top of triangle 3. Stop below 20 MAV RR = 2+ NB - a better trade opportunity may present later , in the opposite direction.....

salsapete

The loonie and yen have been in descending triangular consolidation since April 2017. Recently the base of the consolidation is broken and last week was retested. A consideration for a short is made as the bias is to the downside ( Price below the 200 week MAV) Entry - Closer to the 20 w MAV , as a false break back into the consolidation. Target - prior major...

salsapete

The AUDUSD has been in steady decline since 2011 and there is nothing to stop the drop (aided by the rate cutting cycle the RBA is following) . The most obvious downside target , looking left , is past support at .6100. This pair is to sell short on any pullback until .6100...

salsapete

The USD has been in a long term channel dating back to 1985 , with 3 Primary waves completed A - C. The current primary wave started in 2008 , think GFC. Since then there seems to be 4 minor waves completed in early 2018 , within the progressing D wave. The 5th minor wave has seen price consolidate over the last year between the 200MAV and the monthly Pivot...

salsapete

Gold is Uber bullish.... and looks likely to continue to do so for some time into the foreseeable future. Price has fairly well respected the 20 MAV.... I am awaiting a move back to touch this average as an entry point , with an aggressive stop below the recent long wicked spinning top candle inspired by the Trump Trade Tariff on China..... The nearest upside...

salsapete

The EURUSD has been in a downward trending channel since 2008. Waves A-D have completed , and the 5th wave E is in progress. Wave E has been in a minor consolidation for the past 12 months, cycling between the .618 fib and resistance of the 200 MAV, and volatility is approaching the multiyear lows last seen in 1997. Something has to give .... It would seem...

salsapete

Here is a look at the EURCAD with a consideration of a long term ABC pattern. The first leg , the A wave , was an impulsive move from 1.75 to 1.21. Then a consolidating wedge from 2012 to present - with 5 waves that may of completed in mid 2018. The present wave down has reached trendline support and have broken and retested the 200 MAV. Its watch and wait...

salsapete

This pair has been in decline since Jan 2018 , and the bias has been to the downside with confirmed break and retest of the 200 MAV. The 123 level was a short term consolidation and price is again quickly on the way down moving to the present 117 level. The near term short target is the .618 fib retracement for the major impulsive waves of 2012-2014 , and is the...

salsapete

EURNZD has made and inverse H&S between 2012 and 2017. Price looked to break this pattern in late 2018 , but failed at resistance of 1.79. The pair have been on an impulsive move from 1.65 to 1.74 over the past 4 weeks. It seems likely the 1.79 level will again be tested , and maybe late 2019 sees a breakout and retest of this key level. IF so, I would...

salsapete

EURGBP had made a strong impulsive move from July 2015 to March 2016 (Pole) Since then the pair have been within a consolidating wedge ( flag) . Corrective waves A - D have played out. Possibly wave E may be in progress with price strongly rejecting the 92 -93 level, with price now sitting near the Monthly Pivot of 90.50. A completion of the E wave would...

salsapete

Since late June 2019 Bitcoin has been consolidating around the monthly Pivot Point ( 10750). The buying and selling pressure exerted is seeing price move in smaller waves , and it appears a triangle pattern may emerge. IF so, then the D wave may complete around 9500 , and looking for a 5th wave to move price back towards 11,500 (E wave). Then price to break...

salsapete

This is a view of USDJPY on a weekly basis, which appears to be in a descending triangle formation , which commenced in August 2016. The 4th wave (D) may reach completion around the 104 handle. So price in next few weeks has further to go to the downside. Momentum indicators are showing a bullish divergence . From 104 , I am looking for price to show...

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On the 4 hr intraday chart a bearish divergence is apparent between price and momentum. Recent candles have tested the 3rd SD of volatility on either side of the Bollinger bands. If 1536 manages to be the present swing high , and I am bullish on gold ...... a long is sought at 1. Entry - around 1453 , which would be a .618 fib retracement ( near support...

salsapete

This pair has been knocking up against the 108 handle..... maybe the break is on.....

salsapete

See trade short setup on Daily Chart.....

salsapete

Bitcoin finds itself contained within a flag pattern. Price has once again moved to the top of the flag, but shows indecision for further rise and is contained by the Monthly R1 Pivot.... Momentum is waning and the buyers may have reached their present limit , with the pair on the boundary of being overbought. My bias is neutral going into next week = I want...