TradingTipster

TradingTipster

This looks like a good one. GBPAUD has been trading in a channel and has now reached the bottom of that channel or the trendline if you prefer. It has also retraced to 61.8% of the last Fib and also looking at the chart I see a divergence (green line) between the price action (higher lows)and the ultimate oscillator (lower lows). Not only that but after checking...

TradingTipster

Someone has probably already spotted this trade but the basic 5 wave sequence is apparently forming in CADJPY. As you can see wave 2 retraces to the 38.2% level of the first wave and wave 4 retraces to the 61.8% level of the 3rd wave. The 3rd wave is also the 200% expansion of the first wave. My target (wave 5) would be the 127% expansion of wave 5 seeing as how...

TradingTipster

From my analysis, despite GBP's strenght, GBPCHF is a short and has now entered a medium term down trend, although in the long term it is in an up trend. My target would be at 1.48515 seeing as how it is the 61.8% fib level from the last swing and also an important resistance level. Just noticed the title is a little misleading, it's a Short in a longer timeframe.

TradingTipster

Awaiting confirmation on a shorter time-frame (strong hammer rejecting the 88.6% fib and the support level or an engulfing candle in the 1 hour or 4 chart), in my opinion it's time for another long in USDJPY with the 1st target around 102.300 and the 2nd target around 102.700. Depending on the economic data coming on the following 1 or 2 weeks, this might be the...

TradingTipster

AUD/NZD Long

TradingTipster

USDJPY is at the bottom of a range from where it's been since February and once again rejecting to break the 102.280 level. Long with a 1st target around 102.330 and a 2nd target at around 102.700.