michaelronnfeldt

michaelronnfeldt Updated 

EURUSD continues downward from its new year push hitting resistance from the start of December 1.109 levels. The price has pulled back a bit and I'm expecting it to find resistance at the 1.113 level before another push to 1.106 and lower. As shown in my graph, I'll exit with a Renko brick in the opposite direction that has a wick. The only exception is if it...

michaelronnfeldt Updated 

EURJPY has headed back up towards 122 with JPY weakness. As we approach 122 and 122.4 I will look for exits as we are hitting heavy resistance. Unless my indicator gives an alert, I will then wait for the dust to settle. EURJPY is one of my favourite forex pairs with 300 pips since the start of the year. Look out for the upcoming resistance and good luck!

michaelronnfeldt Updated 

GBP pairs has been a fun ride with all the Brexit news. We've been going down again since 1.33 with a pullback to 1.32. We look to repeat this with a pullback towards 1.31, before breaking back below 1.30 levels again. I'm looking too short again from any rejection between 1.31 - 1.312 levels. Good luck trading in the coming week(s)

michaelronnfeldt Updated 

After breaking through the 8k barrier, we've pullback and broken it again. You can see on the chart that it rejected off the 8k barrier which offered moderate support. I'm holding a long from 7900 and I'm looking at 8500 for any possible rejections. Good luck in the coming week.

michaelronnfeldt

After a nice 130 pip long trade. We've hit the infamous 109.6 level. I'm now waiting for confirmation. I'm expecting all sorts of bouncing between 109.6 and 109 like what we got in December. While I'm learning towards short, this could easily spike up to take out SL's at around 109.8 - 110 before heading down. Good luck to all those who entered at 109.7. I hope...

michaelronnfeldt Updated 

The 9th and 10th was all about trying to break above 1553 levels. On Friday after NFP we finally broke back above stopping out at 1562. Next levels of support are around 1569 and 1580 from the 6th January. Before heading up we could test the 1554-1556 levels from the 10th. With my trading strategy, I will exit on any Renko bars that have wicks opposite to the...

michaelronnfeldt Updated 

After the off the cliff drop from 65 back down to 59 within a day on the 8th January, we've been squeezing with a decent level of support at 58.9. A solid break above 59.3 should put us on track to reach 60.2 - 60.5 levels. After this we enter 61 and than 62 - 62.5 levels. My current strategy is to exit with Renko bricks that have wicks in the opposite direction...

michaelronnfeldt

Hi all. Here’s my view on oil. We’re getting close to the 0.618 zone which is also aligning with the channel. I’ll be looking at shorts here on a lower TF if we reject. As you can see when oil goes it can go quite fast. If you do get into the trade and it goes down you can look at TPs at the bottom of the channel. Breaking 50 has been quite hard with 3 attempts...

michaelronnfeldt Updated 

EURCAD is not the best pair to trade in my opinion. That doesn't mean we cannot find possible good entries. It seems to reject or more like resist of the 200 EMA on both the daily and weekly. Currently the 200 EMA weekly is basically the blue bottom trend line. You can see on the daily that the 200 EMA gets hit and rejected quick frequently. As we just have a very...

michaelronnfeldt Updated 

Are we heading for another leg down? Last week's bullish rise for GBP had much to do with the fall of the US Dollar. I'd expect some kind of pullback before another attempt to break the and head north of 1.275. Likewise if we break down again, 1.25 is again on the cards.

michaelronnfeldt

DXY impulsively moved down last week finally breaking through the 200 EMA that its being rejecting off for the last year. So now the question is where to next? There are a lot of people suggesting that DXY will just keep falling like a stone since we broke the lower (blue) trend line . I however think it's important to focus on the current pattern and not get too...

michaelronnfeldt

After a few good rejections in the low 121 range, we're going up again. I'm expecting a repeat of the 2019 ascending channel before the drop. Intraday you can look to buy any pullbacks towards 124. A 3rd touch of the upper channel (blue) with a rejection will encourage me to short this pair with a TP of around 122 and TP2 or 120.

michaelronnfeldt

We're now at the top of the descending channel again. However if we look at the last touch (touches), there was a period of consolidation before moving down. With all the Brexit uncertainty, I wouldn't straight out short this pair. On the safe side I would only long for a confirmed breakout and retest of the upper channel. Likewise to ensure that we have a good...

michaelronnfeldt

EURCHF - It's finally hit the lower (blue) line of the descending wedge. Now we're looking at possible longs back up to 1.13. I'm personally going to wait for a little more confirmation, ideally after the first pullback. However as you can see with this pair, when it moves, it moves fast and constantly. 1.18 seems to be a point of support/resistance so anyone...

michaelronnfeldt

EURAUD has been heading up over the last few months to close the wick that formed at the start of 2019. Over the last few weeks we had an impulsive move up from 1.61 to 1.645. Now I believe we will slowly retrace back to the fib 0.618 zone at around 1.62 (blue). On the short term you could look at a short from the current position back down to 1.62. I've included...

michaelronnfeldt Updated 

It looks like AUDNZD is slowly heading down in a descending wedge (blue). I've marked the ascending channel (red). If if follows the previous pattern, we can expect an impulsive move up in the next month of so. In the short term, you can short any rejections of the descending wedge. Long term, I'm waiting for a rejection of the ascending channel (3rd touch) which...

michaelronnfeldt

It looks like we might be heading back up after having a double bottom on the daily. I've copied the last pattern that happened previously to show you the possibilities. We've only had 1 day of rejection so I'm waiting for a bit more confirmation. I'd most likely long after the first pullback.

michaelronnfeldt

It looks like we're slowly heading down with a descending channel to fill the wick at the start of the year.If we break the inner ascending channel (red lines), I'll expect a short down to the blue lower line.