Uncharted-FX

Uncharted-FX

A simple reversal trade setup on the Nasdaq. The tech index confirmed a double bottom pattern breakout on November 11th, the day after an epic rally which is among the best days of 2022. The breakout has not seen any momentum as different Fed heads have come out saying different things, and some geopolitical tensions. The markets are still determining if the Fed...

Uncharted-FX

It has been awhile folks but I am back posting ideas on TradingView. I have kept watching and trading the markets everyday since I stopped posting and have had other consulting to do forex and market related. I will be posting ideas on a regular basis. The strategy and set ups remain the same! We look for reversal trades after a long trend. Many Singapore...

Uncharted-FX

NZDCAD has tested a major daily support zone. We have built a base and formed a double bottom pattern. Price has also crossed over my moving averages. Not the downtrend of lower highs and lower lows. Draw a trendline if you must, but this trend is over. One can enter now, or await a higher low confirmation with a close above recent highs of 0.8717. Some interim...

Uncharted-FX

Copper confirmed a daily breakout of a flag pattern. Great follow through today. Next resistance comes in at previous highs of 4.80, and then likely new highs after that. Potential retest of the trendline breakout is possible. Just normal breakout market structure. This chart interest me because it is very similar to Oil a few months back. And look what...

Uncharted-FX

Gold and Silver with major action after CPI data yesterday. Both reacted as inflation hedges as the US Dollar fell. Silver is of more interest for me due to the market structure. Zooming out to the weekly so you can see how important the 22 zone was. A major support zone. Then, we waited for Silver to bottom and create a pattern. The breakout was triggered...

Uncharted-FX

I am a contrarian. Many successful investors and traders tend to be. Following the crowd isn’t the best financial advice. Recently my contrarian spidey senses have been going off. If you have been following the Stock Markets, and particularly, the fundamentals, you have heard the word inflation be mentioned once or twice. Who am I kidding! That’s all everyone...

Uncharted-FX

This may be a bit of a controversial post, but if you choose not to go down the rabbit hole, you can at least check out my two technical ideas. Oil is a trade we have been long since the break above $44.00. Our target was the major resistance/flip zone around $66.00 which we hit to the T: Once price hits our major flip zone, we should expect a possibility of a...

Uncharted-FX

Crude Oil prices have surprised many investors and traders. Similar to Copper, in a sense both are an economic recovery play. Way back last year, we saw Oil hit 0, but then form a head and shoulders reversal pattern. The uptrend has been held since then, but we have finally now hit a major resistance zone which could signify a shift in trend. First of all the...

Uncharted-FX

EURNZD showing signs of our market structure. Has had multiple lower highs swings, and then momentum became to exhaust. A reversal of the trend has triggered. The 1.6962 zone was resistance. The breakout occurred, and then price pulled back to retest. The last 4 hour candle close indicated that buyers are stepping in, and a higher low has been confirmed. I am...

Uncharted-FX

My readers and followers are up to date on the ongoing currency war. Central banks are attempting to weaken their currencies in order to boost inflation and exports. The export part is self explanatory and well known, but the inflation aspect involves the classical economics definition of inflation. Inflation is the weakening of a currency where it takes more of...

Uncharted-FX

The US Dollar has been getting culled. The downtrend is apparent. We were watching the weekly support way back at the 94.75-95.00 zone. Penetrated right through it. Notice too how price came back to retest this zone before continuing lower. 92.00 was the MAJOR KEY support for the US Dollar. Not only was it a major support zone (price floor) but it is where the...

Uncharted-FX

Crypto's have been on fire! The intraday price action during US market hours has been fascinating. Many people are talking about the chaos in Washington. Honestly, the markets really did not care. The only major chart of worry is the VIX. The 10 year did not fall, which we would have expected if money was running into risk off assets like bonds. The stock...

Uncharted-FX

Take a look at my previous take on Gold for 2021, and why we are in for a potential 180% plus move in the yellow metal. This is not coming in a month or two, the last time the fundamentals and the technicals aligned like this, it took 400 plus days for the completion of this 180% move. We are in Gold for the long term as the confidence crisis in government,...

Uncharted-FX

Wild day on Wall Street. The S&P 500, the Nasdaq, the Dow Jones all did finish lower, but WELL off the lows. Last week, I mentioned how this week would be big with the Georgia (GA) Senate run off and then the December 6th Electoral College vote. The GA Senate run is the big one. If the Democrat Candidates win both seats tomorrow, the Senate is split 50-50 between...

Uncharted-FX

Amazing Price Action on Bitcoin this weekend. Bitcoin has risen $500 almost everyday since November. Institutional money is flowing in. We have heard about Square's acquisition of Bitcoin. We have heard of Paypal's wallets and adoption of cryptocurrency. There have been reports that many other whales have been taking part in the recent Bitcoin move. The most...

Uncharted-FX

Ending my posts of major themes to look for in 2021, I want to end with the agricultural commodities. Particularly Corn, Wheat and Soybeans. The agricultural commodities are some of my favorite assets to trade, and I do not think many people pay too much attention to them. I focus on the three mentioned above, but you can also trade sugar, coffee, cocoa, orange...

Uncharted-FX

My long time followers and readers know two things about the bond/credit markets: 1) They are by far the largest markets in the world even dwarfing the Stock/Equity Markets. 2) If you want to know where the Stock Market is going, look at the 10 Year Bond Yield (TNX). Of course, some argue that things have changed due to central bank money printing propping...

Uncharted-FX

My long time readers and followers know my opinion on Gold, Silver, Bitcoin and other commodities/hard assets. You want to be in them due to the approaching confidence crisis in government, central banks and the fiat money. All of which are occurring right NOW. The trade is to get out of fiat, because the currency war between central banks means that they will all...