Based on the market behaviour that:- "prices tend to return" "Same Seiden's Supply and Demand concept", "Banks always split their orders hence price tend to go back so banks can put their orders again" hence the concept "Boomerang Effect". Some traders mark big candles as a "leading indicator" that price tends to return to that price, think of a magnetic...
Sentiment from the PPI poor numbers and the NAFTA deals (CAD strength pressures the Dollar). CPI US later some market experts believed a slow down numbers as well. I am trading into this risk. Technically, USD across the board failed to break levels to continue the bullish USD trend. If current candle closes as Bullish Engulfing cande (1) , then I will LONG it...
The US-China Trade War most definitely pressures the Aussie Dollar. Technically, AUDUSD is consolidating and I am looking for a Short Trade opportunity. A pullback might be an ask but any small pullback followed by a Bearish Engulfing Candle in H4 or H1, I will be in that trade. Target the Weekly Low Projection (120 pips)
The Bond Auction went well as expected that could help the Bond Yield which could underpin the Dollar. Bond Auction for the 10Y later today and expecting a Demand>Supply situation as well. EURUSD -0.13% have been ranging between 1.17xx handle and 1.16xx (Accumulation) and I am picking a downward direction if the pair attempts to expand its range for September....
Ater Daily Projection High (yesterday) was exceeded and Bearish Engulfing Candle after testing Weekly Pivot . I shorted hours ago and target as illustrated on the chart.
The No-Deal Brexit jitters potentially pressure the Sterling in mid-term. I am picking two directions within a general GBPUSD mid-term bearish bias. Left Hand Side Chart is H4 Timeframe. Right Hand Side Chart is H1 Timeframe For Plan A : I am marking yesterday's daily pivot + 1.29000 price and I want to see how the market will react upon reaching it. A bearish...
Can anyone spot it? If you do, allow me to say that I am not saying this will pan out. But my argument would be when it is okay to say certain patterns are repetitive, who are to say THIS will not repeat itself as much as price respect previous price levels? NOT A TRADING PLAN
I am mid-term EURUSD Bearish bias due to the monetary policy divergence (too oversimplistic, basically just pick a direction!). On the left-hand side chart, that is H4 Timeframe. If price reaches the weekly pivot and gives me Bearish Engulfing Candle, then I will short EURUSD. Target according to the arrow (within the Weekly Projection Low) - 170 pips. For...
I am anticipating AUDUSD to rally after the RBA Monetary Policy Meeting and reach weekly pivot @ 72422 and coincidentally hitting Daily Projection high (58 pips). If the price goes there, I am looking for a Bearish Engulfing candle or Dark Cloud Cover and short AUDUSD. Target weekly projection low or 2:1. I am still seeing bearish AUD in spite of the current...
I am expecting the Brexit No Deal issue will sooner or later pressure the sterling and also the issue about renewing Carney "reign" at the BOE. Technically, I believe GBPUSD is in a downtrend. I will short GBPUSD if I see a Bearish Engulfing Candle or Dark Cloud cover in one of these levels I've marked with red arrows. Target(s) are based on the average daily...
I want to short EURUSD if a bearish engulfing candle or a dark cloud cover in one of these levels (marked in red arrows). Target(s) based on the average daily projection Low.
Not a trading plan but merely an overall view of what probably coming over this week. Technically, after a strong fall from 88.900, price make sideways movement in a nice tradeable range (Blue lines signifying continued sellers control of the pair). Range market is the accumulation phase. Price trading below that range, so I am anticipating further push down for AUDJPY
If price reaches there, I will wait what kind of reaction will happen. If Bullish Engulfing Candle occur, I will LONG and target the daily/weekly pivot (it would be within the daily range projection high).
EURJPY had hit the average weekly range (220 pips) from Y130.80. Part of my method in range analysis is, when price already hit its range the price very often retraces between (38 to 60% of its move), make a full reversal or price begins to move smaller and create small price structure (accumulation phase) (Yes I've just described the entire price action phases....
I do not know where this pair going to go. Sentiment wise, I see more weakness for the Aussie Dollar due to reports that Westpac has lifted home loan interest rates by 0.14%. Technically, price recently has tested last week's Low (consequently forming this two-week range). Today I am making a plan if AUDJPY going to go down further. Weekly range haven't been hit...
Refer the main plan here : I've marked the daily pivot level which I will be waiting for the bearish reaction if the price reaches there. The bearish reaction is either a) Bearish Engulfing Candle b) Dark Cloud Cover anything few pips above or below the daily pivot. The target would be the weekly range low. If you like the trading plan, give me a follow and...
..its invalidated by candle "un-engulfed" the bearish candle @ 1.1700. The beauty of planning trades is that we can always project, predict, anticipate the perfect price action that your head can paint in your imagination, but quite often it comes out differently. But that is ok, very often it creates opportunites to trade the bounces. I am more leaning towards...
Looking for a Bearish Engulfing Candle to "engulf" 50% of the Bullish Enguling candle from 1.66 price. If that happens, I'll short the EURUSD and target 2:1/Weekly Range Low In the case that price continues going up, I am anticipating the price will find its way to 1.7700 (weeklY Range High) and I will wait the reaction there. A bearish engulfing candle will...