Another play that i'm already in. This is a intra-day trade based off the clear downtrend we're in right now. As long as the Green trend line holds, I'm expecting this downtrend to continue with a target of around 96.50
I'm in this trade as of couple of weeks ago and it is along the lines of the other GBP pair analysis that I have posted here. This carry through momentum of both GBP strength and relative JPY weakness across the board is definitely flowing through to this pair. Again as long as the Green trend-line holds, I remain bullish with a potential target of around 2.1500
When checking out the USDJPY this morning, the first thing that I noticed was rotation in then tend. After getting rejected on a gap fill the market dipped lower breaking previous support and giving us a new structure low. As price action shows some relief and retraces back I was looking for an opportunity to get short as close as possible to previous structure...
Here we got yet another bat pattern against short term trend, we are hoping to ride a retracement up to profit at the trendline for a continuation of the trend, so very basic, watch out for the RSI and i would move stop to break even when we are half way to our first target, we never know where there may lay sell orders waiting for us. With the China news out and...
After a Double Bottom formed through March/April, price has successfully broken through the 50/200EMAs. Since breaking through the 138.00 SR level, price has been consolidating for a few weeks now. In this sideways movement price has intercepted the prevailing trend line and simultaneously tested it alongside the 138.00 Support. Next significant resistance is...
Following a week of sideways consolidation, price has moved to retest the prevailing trend line. In doing so it looks as if the day will close with a Low Test through the trend and the long term 124.00 Support level. A Stop Loss as 193.47 and entry above the daily high, the first profit target is at the next major Resistance of 200.00, providing a 4:1 Reward:Risk Ratio.
I was supposed to be following the EURUSD this entire week, but if you look at the chart there is just absolutely nothing new going on. So instead of giving you a chart that simply read “see yesterday’s post” I thought I’d look at another pair that has been on my radar. One of my clients and I were discussing the situation on GBPJPY last night looking for a...
THE EUR HAS FAILED TO BREAK OUT AND CLOSE ABOVE ITS 4H CHANNEL THAT HAS FORMED, A STRONG REVERSAL CANDLE FOLLOWED BY A BEARISH ENGULFING CANDLE ADDS FURTHER CONFIRMATION FOR POTENTIAL TREND CONTINUATION. THE 150 DAY MA PROVES TO BE A STRONG LEVEL OF SUPPORT, OFFERING A GOOD PLACE FOR A STOP - WITH A STRONG RISK/REWARD OPPORTUNITY. FUNDAMENTALLY THE EURO HAS...
Idea is based on Elliott wave theory. The chart contains the rationale and target/stop loss. Good luck
Taking inspiration from one of my followers who messaged me this weekend, I wanted to try something different here on Tradingview and concentrate on a single pair this week instead of randomly posting charts when I have the time. (Let me know what you think of this idea by the way). This week I wanted focus on the GBPUSD as there are a few potential trading...
After creating new structure highs last week, the USDJPY is now putting in an outside return back into previous structure setting up a decent looking trend continuation opportunity. I yet have a reason to get long per my rules of engagement, but I will certainly be keeping a very close eye on this setup as the risk to reward is a no brainer for me with stops...
Last week this major went up a total of 160 pips, gaining ground for a third week in a row and reaching highs not seen since 2002 . On Monday three US data points came out better than expected (including the high impact ism manufacturing pmi) resulting in a 100-pip rally. Tuesday we saw overall dollar weakness while commodities like gold and oil rallied. But the...
Here we got a potential Cypher pattern aboute to complete, at support turned resistance and previous structure zone on the higher timeframes. RSI is on its way to overbought. Tomorrow and friday there is comming a lot of news out so thats why i only would go for target one on this setup even though its with trend. Remember we need to protect our capital more...
Sorry for being quiet this week trading view but I've been running things on the road. Also the markets have been pretty quiet this week so there just hasn't been a lot to share. Today seems to be a little bit better and I wanted to bring a potential buying opportunity on AUDUSD to your attention. I'm already long this pair from earlier in the week. My position...
Since April, EURUSD has been following itself nicely in a symmetrical pattern prior to April. Interesting. Who's to say it won't continue on its course? Certainly food for thought. A double bottom, trend resistance and long term support are the reasons I will be going long for the coming week. Leave your comments. Good luck, and Happy Trading!
The Forex markets have been kicking my tail this week so I decided to take a look at some other markets simply to clear my mind. Conducting technical analysis is actually a stress reliever to me, when I get do it on something that I don't trade. A few of my clients have expressed that they trade many of the indices, which lead me to the Nikkei. Initially the...
We placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as...
I wanted to hold this for my webinar with Tradingview today, but it looks like we're already starting to move so I'll give it a share as well. By the way if you haven't registered here's the link blog.tradingview.com Live Room members, if you remember last week we talked a lot about waiting for opportunities where the risk reward is heavily in our favor,...