thetradeWELL

thetradeWELL Updated 

Since finding support around 1.2690 the Pound has managed to retrace ~350 pips and is now sitting right below the 1.300 handle, which was formerly support now turned resistance. Depending on today's close, we might be entering into a range as the Dollar continues to give ground against the other majors. For now, I'll be watching and waiting for a signal from my...

thetradeWELL

On two separate occasions within the month I've noted the shifting trend on the CABLE/DOLLAR. First, on August 29th I wrote that after finding support around 1.2690, Bulls were now in position to bid up the market. I was neutral then, but as I posted again on September 12th I noted that I actually missed my signal to go long that was issued on August 24th....

thetradeWELL

I published a short entry on the Dollar/Looney back on August 28th . Price action dipped below and closed beneath my sell zone. However, I closed that position with a small profit as price action retraced back up to 1.32 area. I kept my chart as is, with my sell zone still in tact, mostly because I am still on a short bias. Sentiment is intriguing at the moment...

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Still in the current long after entering on 09.11 and again on 09.13. sitting on close to +200 pips right now (across the two lots). Very bullish action off of the 1.16250 handle up through 1.16725 and is now dealing with the bottom of the most recent area of supply. Momentum has shifted, but Bulls must clear several hurdles this week to effectively shift the trend.

thetradeWELL

The Yen continues to underperform all major pairs, including the Dollar. Yen weakness rather than Dollar strength is currently responsible for the gains that the Dollar has made, retracing some 700 pips off of the March lows. and, more recently, 230 pips off the August low. Technically we're looking at a potential alternative cypher pattern, though I make almost...

thetradeWELL

On 08/27 I published a LONG entry opportunity on the EURUSD . In that post I noted the daily supply zone that would likely serve to be the first level of resistance. After retracing 200ish pips off of the 08.28 high, today's price action is once again entering the BUY ZONE indicated by the gold rectangle. Currently price has crossed above the 1.670 upper boundary....

thetradeWELL

On the 29th I commented on the Cable's current retracement . Going back to my charts though, I realized I had missed my actual entry signal. I hate it when I miss a signal, which I got for the Cable on 08.24. Its still in play and target one is at 1.3099, approximately 219 pips from the entry at 1.28805 and right at the bottom of the weekly supply zone. However,...

thetradeWELL

Second target reached earlier today which I wrote about here . Currently the pair has found support right around 0.96750. Retail trade sentiment is biased long while market momentum continues to decline. Further downside seems ahead, although the pair might stabilize within the present price area. Target III might be a little bit trickier to hit as we'll be in...

thetradeWELL Updated 

Even though my entry from the trade I posted here was premature it worked out nicely and my initial target was reached. New Target TWO has been set @0.9666 (how deliciously wicked!), which nicely coincides with the 1.618 Fib Extension level off of the 07.13 high. I've moved my stop to trail above the 40 period EMA, which should be enough wiggle room within this...

thetradeWELL Updated 

Signal for SHORT on the pair occurred on 08/10 @128.026. Unfortunately, I hesitated to place the trade and entered on 08/13 @125.846. I've set two targets (gold lines), which are indicated in the demand areas (blue rectangle) on the chart. My trading system and methodology typically includes at least three price targets, however due to the erratic nature of YEN...

thetradeWELL Updated 

Initial short @0.98723 on USDCHF which I wrote about here is approaching the initial target @0.97461 for a +125 pip gain.

thetradeWELL

As I posted previously short opportunity on the USDCAD is now on after a break below the sell zone marked by the gold rectangle. Practically all criteria for this trade have now been met, although I'll be eyeing today's close to gauge trade conviction. I did take this trade early on 08.24 @1.30231 and am sitting on +110 pips (x2 lots). TARGET ONE is @1.26620,...

thetradeWELL Updated 

Technical entry signal short on 07/25 @0.99068. Entry trigger @0.98768. Price is currently sitting on support around the 0.98750 level, but has penetrated the bottom of the triangle. Criteria: I entered this trade early, probably too early, today @0.98723. I would like to see price action close below 0.98765 and the 9 period EMA below both the 14 and 40....

thetradeWELL Updated 

Entry Signal on 08.24. Currently LONG with an initial target @1.9785. Stop is set below 1.13005. Currently +95 pips in profit. Anticipating initial resistance around 1.1745 area. I will add additional lots if trade criteria is met over the next coming days. Sentiment has shifted as retail traders are net short indicating further upside.

thetradeWELL

After bouncing off the 100% Fib Extension, the pair hit resistance at the 38.2% and is now hovering just over the 1.3000 round number. I'm awaiting a valid close below the entry zone which is between 1.30235 and 1.29935. A decisive close below this level could lead to a potential +300 pip move into the 1.618 - 2.000 Fib Extension area.

thetradeWELL

Short signal on 08/13 with technical entry @110.104. Entered a short on USDJPY on 08/15 @110.567 with initial target @107.035. Target happens to correspond with the 1.618 Fib Ext off of 07/18 high. Monitoring the 110.00 level for either support or a strong break.

thetradeWELL Updated 

Strong Bullish Engulfing candle forming with today's price action on USDJPY. Price is currently testing the 38.2% extension level off of the March 22nd - March 28th - April 2nd move up after finding support/demand in-between the 50.0% - 61.8% March 22nd - March 28th retracement area. With that said, retail trader sentiment is LONG at 2:1 and has been net long...

thetradeWELL Updated 

Up for discussion today is The Chemours Co. (ticker: CC) a diversified chemicals company in the materials sector listed on the NYSE. The company currently has either a Buy or Strong Buy rating by several research firms, and I'll be looking to add the stock to my portfolio if fundamental and technical conditions turn favorable. Fundamentals: CC has reported...