This pattern is actually in high reliability as the price action shows a pivotal sign in confluence to a 88.6% Fibonacci Retracement. Hidden bearish divergence on Fisher Transform oscillator which crossing on H1 reinforces the idea of a peak for this cycle. A 2nd target to watch @ 14.6%.
On the zoomed out frame, we have a bullish Shark formed and confirmed. On the zoomed in we have a cipher confirming hourly as well.
Hi everyone. I'm watching a probably PRZ in some confluences after a bearish Scott Carney's CRAB pattern figured out. The volume decreasing along the consolidation so-called Bart Simpson indicates institutional price support. In the next two days at least we can expect a distribution phase in the 100-88.6% range of Fibonacci retracement. The 61.8% pivot level can...
As most of you are aware of, i have a bearish bias on this pair. This bias comes from a bearish Gartley pattern on the daily timeframe. This morning we can see how AUD/USD surged up, but we are currently seeing a nice trading opportunity looking to go short from these levels. Lets see how this one plays out. Good luck to all trading AUD/USD!!
Here tracking 1.295x as the level to recycle and load more shorts. Well done those following from the original short-term swing which was triggered on the cabinet reshuffle (see diagram below). As widely expected GBP suffering as markets began to look towards the EU negotiations kickstarting in March. Both sides are very wide apart and no-deal Brexit looks set for...
A weak session for EURGBP, soft hands continued to bring better sellers in from leveraged accounts and yet the important 0.8300x support still held. I am once again in BTFD mode as pound remains more vulnerable in the entire process as a result of financial services replacement. Risk markets will put more pressure on GBP in general over the coming sessions. Here...
With Javid out Johnson had the perfect cherry pick with Rishi Sunak and now the fiscal taps can be turned on full. This medium-term swing is starting to look very interesting which is unlocking a leg towards 1.20xx and 1.15xx below: Rishi is a typical yes man, he will do whatever Johnson wants. Those behind the curtain know it was another flawless beheading...
A timely update to the FX strategy for GBP with particular focus on Cable. On the UK side, we have loud messages from Europe around the difficulty for both sides to reach an agreement by year-end. Although typical in a game of high-stakes chess, this is a heavy weight on Sterling. On the US side, a solid round of data prints last week from wages to...
The power to breakdown has been developed knowingly and systematically, unlike chop/consolidation which frequently occurs. The effect of the breakdown is heightened by BOE turning very dovish and calling up for Sterling devaluation, which in their eyes must be required for offsetting the loss in UK market access. Compare the following two diagrams: Sellers...
BOE's Gov Carney hinted to stimulus yesterday, indicating that the pound could come under severe pressure if incoming data show no improvement. Coincidently, the same day there were suggestions that the EU-UK talks could be dragged past the tight deadline BoJo has set. The passenger plane crash in Tehran didn’t reflect into the markets as uncertainty about the...
A very simple trigger for those wanting to cover some shorts from the initial elections entry; the key 1.315x support is holding and pressure has been completely absorbed. We are trading the bottom of the clearly defined range from the elections; 1.315x <=> 1.355x and markets rather than going overboard on risk will want to keep their cards closer to their...
As widely anticipated over the weekend Conservative lead widening and reflecting in Cable strength. The 1.292x - 1.282x remains of interest to me, here expecting 1.30 to hold ahead of elections as momentum in Pound looks apathetic at best. The "People vs Establishment" narrative continues to pick up steam: This sadly is a necessary component in the collapse...
In today’s #marketinsights video recording, I talk about #fxminors #EURJPY and #GBPCHF as they both seem to be moving within an identical pattern. Despite the added uncertainty amid the latest delay drama of phase-1 of a potential trade deal between US and China, safe-havens #yen and #franc seemed unaffected by at least this type of flows. That suggests that...
Introducing Technical Portraits ...a flow forecast for EURGBP over the coming sessions. Lets start by digging into the daily chart we are currently tracking: With last weeks 'progress' revised and the Queens Speech 'cleared' we can comfortably begin to buy the floor at 0.872x. This is strong support and will attract a lot of selling interest in GBP. We...
A good time to update the GBPJPY chart, lets start by firstly digging up the leg we are following: So far a very good example of how to trade waves, we are now tracking the ending of wave 2 and a transition into the impulsive 3rd leg in this journey. The invalidation for this entire move comes into play above 136.0x ...I am wary of a sweep and remain cautious...
As mentioned in the channel update... On the AUD side , RBA are expected to leave rates unchanged after the 50bp in June/July. Expecting the RBA to take a more upbeat and positive tone around early signs that house prices are stabilising, decent job creation and a sweet spot from fiscal and monetary stimulus. In the UK, sadly politics once again in full...
Fed’s monetary policy vector changes, the pressure between the US and Iran has reached a critical level, the overall high level of investor concern led to the fact that gold almost reached 1140 yesterday. As a result, an increasing number of traders and analysts are turning into purchases. In particular, Marc Chandler from Bannockburn Global Forex believes that a...
It is a good time for a chart update here as we approach the first targets in the macro swing at 1.284. We traded live here on Tradingview in the related ideas (see attached) no less than 8 short entries in significant value areas for this swing (in the infamous loading zone). I would highly recommend those interested in swing trading to dig into the archives......