After a nice breakout of the long-term downtrend channel over the last few weeks, Dollar Yen looks like an end-of-correction on the 1-4hr today for another long entry. Looks like there's plenty of room to the upside and looking for a test of the top of the falling wedge trendline. Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The...
It's not often that you nail a perfect trade, but when you do it's like when you hit a golf ball down the fairway with a One wood and it makes that beautiful Ping sound hey!! That one beautiful shot keeps us coming back for more! We identified this Kiwi Yen Long on last night's FX Market scan. I got stopped out on the first entry during the European open, then...
Markets seem to be positive this morning which could be the start of a "Risk-On" theme for the week. The commodity currencies are showing continued strength and Yen is weak across the board. AUDJPY, NZDJPY, AUDUSD, NZDUSD etc. longs all look solid with no signs of the longer-term trends ending jumping out to me. I'm stalking an AUDNZD long We'll discuss...
As we discussed on Monday's FX market scan USDCHF looks like it's finished its correction and is making another run to the downside on the daily. See you on the next call in Market Mentor on Monday at 5 pm AEST Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes...
CADJPY H4 - LONG Strong breakout and retest onto resistance turned support area. We have a bullish engulfing candle on the H4 timeframe that serves as a potential confirmation candle. Look for an entry on the lower timeframe to catch a LONG position.
As discussed on last nights FX Market scan in Market Mentor: After a big move out of the BoE interest rate decision GBPCAD looks to be continuing the uptrend. See you on the next call next Monday at 5 pm AEST time Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes...
As discussed on last nights FX Market scan in Market Mentor: After a big move out of the BoE interest rate decision GBPCHF looks to be continuing the uptrend. See you on the next call next Monday at 5 pm AEST time Cheers Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes...
GBPCAD H4 - LONG Prices broke the descending trendline with strong bullish momentum, now coming back to retest a neckline structure. No signs of strong bearish momentum just yet and that is what we are looking for, in order to take a LONG position towards the extended targets.
Bearish bat pattern formation if we get a D-completion. We are looking for selling pressure and any sort of bearish price action before taking this opportunity. Note that the bullish momentum has to slow down before taking this trade otherwise, we may be blown away by the bullish momentum charging into our completion zone.
As we identified on Monday's FX market scan, Euro weakness persists. See you on next Mondays call at 5pm AEST. Cheers and trade safe Dale DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate...
We are waiting for prices to give us a confirmation on the direction it is going. If prices breaks out of the descending trendline, we will be looking for a LONG opportunity if we get a pullback. A breakout of the descending trendline isn't enough, UNLESS it breaks above previous structure high as well, creating an immediate higher swing high, to tell us that the...
That right I hadn’t played this pair well this last week. However if you have a plan, stick with the plan till you’re proven wrong! Changing from plan to plan isn’t anyway to make it as a trader because you’re guessing or at best not looking for high probability plays. My mentor used to say.... Okay, a self-taught trader doesn’t really have a trading mentor, my...
No one likes the US Dollar but.... This weeks dollar moves has been challenging to say the least. Sticks down you’d think Dollar up. Right? Yet the Dollar was slightly down or just mixed. Gold was looking like a breakout was in play but no! Followed stocks a bit—this also should have said Dollar get a move on. Not yet! Oil moved higher into my resistance zone of...
As I had pointed out on my earlier post I was waiting on the neckline retracement to get short and yes we got to the horizontal blue zone and not quite to my red box preferred zone. I’ll take what the markets give though. Earlier this morning took 1/2 off ( because it’s Friday more then anything as to why ) and going to search for add on opportunities. With...
Ok I’ll admit it! I didn’t really trade this pair all that good / well of late. Not that I lost some pips, that’s all good and comes with trading. It because I allowed myself to get caught in a smaller pattern inside of a similar large pattern. Up sloping channels. I played the small pattern only so, so! Took some pips then gave some back and in the end I was down...
Trade based on support and resistance level. The support level will be TP point and the resistance level will be SL point. Thank you. Entry point @ 1.17962 Take profit @ 1.17133 Stop loss @ 1.18829
GPCAD CORRECT MORE THAN 200 PIPS NOW PRICE SHOWING SUPPORT AND WE ARE EXPECTING A BUYING FROM CURRENT LEVEL BUY GBPCAD @ 1.7395 TP1 : 1.7450 TP2 : 1.7530
NZDJPY H4 - Looks like these eastern pairs (NZD and AUD) are trying to push. If we see a nice close above this zone and retest. We can look to buy in line with this setup.