This is my trade of the week due to the fact the AUD keeps attacking resistance and cant hold as you can see in the blue box above, the green line shows a strong area of support and resistance and the red is a support level that we have seen over the last few days giving us a strong uptrend. I believe with recent bullish news from the US we can take a trade that...
After some big news and bearish momentum for the euro pound, we can clearly see a triagle being formed on the H1-H4 charts. Giving us the good opportunity to short this market. To place an easy sell stop below lows, and wait for the breakout.
With a decent 1.5 risk reward, this trade is a good bullet.
Hope you guys have a good week.
With Trump's protectionist rhetoric, we could see the big guys taking profit out of stocks. S&P500 should then be on a new track lower. Right? Some stocks may still do well, but companies like Apple should certainly see profits declining over the next few years. Won't be a crash though. A steady trip South, stopping off at a few stations a long the way....
This channel upwards looks to be taking a breather. There is divergence coming through in RSI and BBs are likely to contract, I would anticipate that the enthusiasm has not necessarily evaporated it is more a case of taking some of the pressure out of the system. For better or worse the markets seem to be anticipating a boon from Trump coming into office later in...
USDJPY has seen a strong uptrend over the previous weeks. Price has looked to slow down and peak, warranting a retracement. Short trade entered with stop loss above high of the uptrend. Take profit is at the 0.38 retracement. Nice 1:1.5 Risk: Reward.
Eyes are on Boeing at the moment, following President-Elect Trump's remarks on the possible future of Air Force One.
It is worth noting that Boeing is already looking overstretched at current levels - momentum studies are overbought and prices are now trading in the historic distribution top from 2015-2016 - and risk/reward is turning lower.
After breaking out of a four month range the pound had a sharp decline against the dollar in October, since then the pair has been pulling back and it looks like we could be due for a further bearish decline,the pair has pulled back into a key Fib level and rejected.
USDJPY has formed a base just below monthly support around 100.052, recent price action would suggest that the pair is in early stages of reversal as a key trend line has also been broken. Price is currently testing monthly resistance at 106.131 a break of this level and we can potentially see this pair reach highs of 111.207 in the not too distance future.
Buying Opportunity - It broke through the 23.6% Fibonacci Line and its heading towards a Long term trend line and if it doesn't breakthrough set up an order for a buy.
Take note - Due to the whole situation with the US election, keep an eye on it with great focus.
Preparing for a Trump win
Following Friday and the FBIs decision to re-open the case on Hilary I have decided I am going to assume A Trump win, this is for several reasons:
1) After reading into it, the reopening of the FBI case implies one of three things imo - 1. They have found new significant...
1. Slightly late posting this position but we got long at 104.5 earlier today. The rationale behind owning USD VS JPY is as follows.
USD risks are bid
1) in the run up to the 2015 dec hike USD traded extremely bid with DXY breaking through 100, based on the last 2wks i expect USD to mirror 2015 and continue the bid tone we have seen both in 2015...
Presidential Election - Trump wins - MXN more sensitive than USD, Yen to pick up the risk-off shift:
1. Positioning for a trump win is much more interesting than a hilary win but nonetheless both should be profitable at some level. My number 1 position will be SHORT MXNJPY for a number of reasons 1) MXN has been very sensitive to the USD election given trade...