This pair is forming a very solid ABCD pattern as point C was put in place very decisively. The chart is showing the ABCD pattern overlaid with a Fibonacci Extension. Our projection is for this pair to make a run towards the 61.8% to 76.4% Fib extensions but we wouldn't be surprised if it made a run to the 100% level as the pullback was shallow. Pullbacks that...
Business as usual -if market condition remain the same? we are hoping to see AJ decline a little more
One to watch for a 3 Step Scalp MACD trade is USDCHF. We traded it nicely last nice from the short side and as you can see it came in more overnight. With the horrible wage growth reported from the U.S. the dollar could be in for some trouble throughout today. Don't be afraid to take a long scalp if the conditions present themselves, just be aware that sellers...
Hello and good morning traders, I hope you're all doing well in this weeks trading. I've analysed a Potential Cypher Pattern setting up within the Gartley we are also watching and we could be potentially hitting the 97.00 just in time for the NFP figures coming out. If they are to perform weaker than expected, then we can see a potential move to the downside...
The British Pound advanced against the US Dollar as expected but a bearish Evening Star candlestick pattern hints a turn lower may now be ahead. Near-term support is at 1.5794, the 50% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.5647. Alternatively, a turn above the 61.8% Fib at 1.5941 clears the way for a...
GBP/USD is forming nice AB=CD pattern on the 4H chart. This pair has exceeded its C target setting the stage for a move to point D which will at least 100% of the A-B move. The B-C move should never exceed 78.6% of A-B, with that said we will set a stop of 100 Pips which will be slightly more than the 78.6% threshold. It's very well possible point D stretches...
Unrelated to any sort of technical analysis but I've noticed that any large-scale global military event seems to be a catalyst for growth in LMT as shown by the markers indicating the dates that the respective events began, which are followed by a long uptrend. Although LMT holds no contracts within Russia, Ukraine or Iraq, these military events create unrest...
Trade setup : Short on AAPL SL : 129.21 TP 1 : 123.70 TP 2 : 116.45 Fundamental View : Last Apple Keynot was a no event. No news = Bad news. Technical View : Triple-top pattern Pullbacked on last downtrend support No big support before 123.70 level Best of luck, Serge
VIDEO: www.youtube.com Hello and good morning traders. Looking at taking a short on the EUR/USD 4 hour time frame. Stops and Targets are in place and following our trading plan with our trades. Please watch the above video for analysis. Star Prosper Philip Stewart
USD/CAD is trading below the resistance at 1.2570 (04/15/2015 high). Support can be found at 1.2368 (06/02/2015 low). Nonetheless, we do not see the stronger hourly support at 1.2305 to be tested anytime soon. In the longer term, the break of the key support at 1.2352 (02/03/2015 low) indicates increasing selling pressures, which favors further medium-term...
A nice wedge pattern is forming on the 4 hour chart of EURCAD, it's actually forming with two different lower trendlines extending to different times. This pair could break either way although our algorithm is indicating a move higher. We will be ready to take action on a break of either the higher or lower trendline by 10-20 Pips. A trade can be taken with a...
Hello traders, I'm looking at the EUR/GBP chart on the 4 hour time frame, but on the 15 minute, we've had a nice simple double top / 2618 setup. At the same time we have a trend continuation move and a 618% retracement from our swing high to swing low right where the double top has formed. We have taken the opportunity to short the market with stops and targets...
Hello traders, our daily trading video was recently released on our YouTube channel. We have the USD GDP figures coming out tonight. Are we looking for a bearish move to continue the completed bearish cypher pattern to targets and double top in play? Or are we more than likely to see the continue bullish rising and strength of the dollar. Let me know your...
VIDEO: www.youtube.com I'm terribly sorry, but we had rendering problems within YouTube with the last video upload. I've gone ahead and re-uploaded the video and the audio is now fixed. Please watch the video for our trade ideas for the day and what we're keeping an eye on. Star Prosper Philip Stewart
The Trade: Long CAD/JPY & Short GBP/JPY The correlation between these two pairs is 77% over the past year. The widest the spread has got over that time is about 800 Pips. Currently these two pairs are 620 Pips apart. The GBP/JPY has enjoyed a nice run-up lately which may be stretched, bumping up against some near term resistance. With that said we will be...
20 May USD/JPY Daily 21:03 EST - Has this pair finally broken out to the upside? With the break of 120.250, clearing the red trendline is pushing this pair up to the 120.870 resistance level. Clearing here, while probably difficult should allow this pair to make a run at 121.850 - 122.000 levels set in Mar & Dec. We will be buyers on any pullback while...
*Position Update: As of 05/19/2015 @ 7:33 EST The Global Currency Scalper closed out both sides of this correlation trade with 112.2 Pips. The Trade: Long CAD/JPY & Short GBP/JPY The correlation between these two pairs is 77% over the past year. The widest the spread has got over that time is about 800 Pips. Currently these two pairs are 600 Pips apart. The...