Two advanced patterns completes within 4 pips from each other.
The J6 is definitely weak and now has broken the April lows. This doesn't fair well for equities. If it stays below the most recent swing high then we could see more upside on the equities. The J6 didn't pull back far enough for us to initiate a short so we will keep looking for entries.
Bearish Bat @ USDJPY Last bat @ USDJPY was a looser. Here is where psychology comes into play, you must continue to follow the trade plan even if the last 10 trades were losers. Does this mean that this trade will be a winner? I have no idea. All I know is that I will keep executing my trade plan no matter what is the outcome I get. I will do some videos on...
Will this level hold? The J6 has been dancing around for while now and I am sure it has eaten many accounts. However, now she has come down to test April lows. From this point we will nibble (small size) on any bounces looking for a break (and hold) below the April lows.
11 Aug - 18 Aug: 42 CNY to 22 CNY (-48%) 18 Aug - 21 Aug: 22 CNY to 38 CNY (+33%) 22 Aug - 23 Aug: 36 CNY to 29 CNY (-24%) 23 Aug in an hour: 29 CNY to 33.21 CNY (+13%) It looks like Litecoin will never die even with the strong competition of other alt coins. Its advantage is a huge acceptance in every China exchanges, every 1% swing in Bitcoin will result in...
She keeps winding. No position but watching closely
Cypher pattern. Targets are adjusted for the violation of point D. Stop goes below X by the ATR of the entry candle. - I will soon start making videos explaining each of my trades and the rational behind them.
Keep the Euro on your radar screen. It's consolidating and will most likely move soon. She's come a long way so another move down could result in a snap back rally. If she breaks to the upside first look for a re-test of the break down lows.
With the CAD pairs popping today some of the longer term patterns are starting to come close to completing. Bearish GBPCAD cypher set up completes at an area of structure, with the big wick on the x leg not closing above previous resistance levels. Current set-up comes off another big winner on previous bullish cypher pattern completion!!
After looking at the recent candles, they show increased buying pressure in the 1.3563 area. Over all it looks as though price broke to the downside after being in a range within a larger downtrend. That said this trade is a counter trend trade and is a bit risky, so I will use a very tight stop. please comment / criticize
A bearish crab (blue) has formed.. A double top at the 1.618 ext may confirm this trade. If not.. there's another bearish harmonic pattern on the daily chart. The bat pattern (yellow). Let's see if the crab pattern will override the Bat and take price down ****************************************************************************** For inquires of education,...
I use the currency forecast poll and compare my own view on the market with the experts who get paid for their forecasts. In this case I have used the USDJPY. I believe that the technicals signal a move down to about 101.5. Here is what the pros say: www.fxstreet.com I also use the awesome oscillator. When we see the awesome oscillator move below the zero line,...
Finally, Price probed and settled beyond resistance of its UMLH with wide separation. Price Advance Tilt on a Fulcrum. Euro weakened further today with a settlement below an important support level.
Monday brought a bounce off of the 1.128 extension to form an Harmonic 'Alternate' Bat Pattern. I would look to get long the stock at the Monday close price with stop loss tightly below the lows of Monday with profit target just in front of the next resistance level. We also have a stochastic cross along with bullish momentum divergence on the mac-d histogram....
A close above 1.6869 could re-assert effort to advance to retest high.
1. Support Broken. 2. Macd increasing momentum down. 3. CCI falls out of Channel. 4. Falling RSI, 5. Starting to drop 20 MA, at the moment platau though should fall shortly. GDP increasing in Japan and return to inflation.