In general, I am expecting a continuation of GBP strength the coming week, drawing support from steady economic growth with the revised GDP coming out as expected and recent labour market data coming our positive. The Japanese Yen on the other hand is under pressure with the BoJ revising their growth forecast lower and most of the recent Japanese data...
The less dovish than expected tone from the RBA last week, stating the exchange rate was still overvalued but failing to give any mention of a time scale for further rate cuts, made me less bearish than I was on this pair. On top of that, the FOMC minutes highlighted concerns about hiking interest rates too soon, creating some buying pressure. Last week was...
There is plenty of news coming out today on the €, with several pmi´s and updates on the Greek debt negotiations hitting the wires. Greece no doubt will have the biggest impact here and a resolution should be imminent. I must say I am somewhat surprised to see this pair has held up the way it did. Zooming out a bit, we can see that since the beginning of February,...
#BABA #ALIBABA Possible Long Idea Harminics 3 Drive Pattern Re-Test of previous structure RSI Bullish divergence and oversold Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
This pair fell sharply on Friday on the back of a strong US jobs report with a higher than expected non-farm payroll number (257K) and a favourable wage gain percentage (0.5%). Because of this strength in the US labour market, the USD immediately became bullish, creating enough selling pressure to make this pair lose 145 pips. The diverging economies as well as...
Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
#APPL #Apple Short Idea (Bearish Divergence) Double Top RSI oversold SMAs Fibonacci
@TradeYodha TradeYodha.com (Just my ideas, do you own analysis) Possible EURUSD Hourly 2618 Style Long Opportunity 1. Bullish divergence earlier 2. Double bottom earlier 3. Can expect a retracement to 61.8 level of last impulse leg 4. Must wait for a confirmation before going long at 61.8 level. 5. First target @ 127.2 level where the fall started 6. Extended...
@TradeYodha TradeYodha.com (Just my ideas, do you own analysis) Possible NZDJPY Trend Following Short Opportunity 1. Underlying Trend is Short. It has reached a particular level where it may try to retest previous highs (there is a counter trend opportunity as well) 2. 78.6 fib at the previous high 3. 10 SMA and 50 SMA are lagging behind and around the same area...
Not a pair I trade, but one of the traders shot this to me today and I wanted to share. It's a double top at previous structure resistance with bearish divergence on the RSI.
EURCHF coming into a nice structure zone, forming a downward wedge on the hourly. Looking for an upwards breakout of wedge structure before going long. RSI oversold, RSI bullish divergence Structure zone overlapping with .382 retracements. Upward trend on the daily.
Although we have a Bearish Cypher pattern resting right above this level, the double top on this pair still looks to be a very good shorting opportunity. A single ATR stop should get you above the structure level looking left so there's very little risk in this one when compared to the potential reward. I wouldn't expect a full blown reversal, looking at the...
Nothing too fancy here on the EURJPY just a simple structure based trade. Looking left you can see that the market has had trouble breaking this resistance level as of late. Combine that with the RSI being oversold and the existence of a double top featuring RSI featuring bearish divergence and it's more than enough for me to take a shot on. This top was also a...
Updated Version. I've tried to spot every RSI divergences possible post April-2013 bubble on a daily chart. Maybe some are missing, just let a comment to notify. But I think everything is there. I found out: - 3 majors RSI div. in blue. - 4 minors RSI div. in light gray. I called them like this because they weren't significant, as they were quite flat OR...
Updated version HERE: ------------------------- I've tried to spot every RSI divergences possible post April-2013 bubble on a daily chart. Maybe some are missing, just let a comment to notify. But I think everything is there. I found out: - 3 majors RSI div. in blue. - 3 minors RSI div. in light gray. I called them like this because they weren't...
Looking for a continuation to the upside in the direction of the main trend (retraced 50% circa). Buyed at market on the first green candle close after the double bottom.
The last time I looked at this stock I had a bullish Bat Pattern on my radar, which resulted in a move back up to previous structure before continuing short. That movement down ended up being the 3rd drive in a bullish 3 Drives pattern (in yellow) and what I would expect is a minimal move back up to previous structure (orange arrows). Typically when traders look...
I had some time on my hands so I decided to take a look at the EURUSD daily chart and an opportunity for the longer term. We have a possible AB=CD pattern (with 0.318 retracement) setting up terminating on structure level around 1.26300. Drawing Fib extensions we also have a 1.618 and 2.618 confluence at the same level. If this level holds, I'll be looking for a...