5stones

5stones

We may have an opportunity for a quick long on Oil. Market is still in a downtrend, but this I see as an opportunity to trade the backing up action (pullback) to the last point of supply before the next leg down. We've had a structure break which is clearer to see on m5. Will wait for price to drop into the OB and look for a long entry. If i get this trade right...

5stones Updated 

My thoughts on Gold. Current PA is bullish. However, some supply has come into the market. I expect this supply to push price back into the trading range (TR) where the bullish move will resume. No defined target yet.

5stones Updated 

My thoughts on the gbp/usd. Price broke out of the trading range (TR) with strength, so I'll be looking to buy any pullback into that TR. In Wyckoff methodology, this pullback will be seen as a backing up action (BUA), which is followed by phase E; a mark up of price. I am yet to set any specific target for this anticipated mark up. Feel free to share your...

5stones Updated 

Hello Traders, I'm still expecting the DXY to move lower. However, it looks like there is still some room to the upside. I have refined the offer level where I'll anticipate the sell off. Will look to sell the USD against other currencies when prices reaches the specified offer level. Let me know your thoughts on this.

5stones Updated 

Had to do this on mobile as I'm not with my laptop for now. This is my view of the DXY. I'm intrested in selling the DXY if/when price rises beyond the 102.548. The 102.548 to 103.595 is an area where I anticipate there are offers/supply. Also using Wyckoff methodology to track the movement of price, we see price is in an upsloping distribution, and I'm...

5stones Updated 

Hello Traders, This is my current take on the eur/usd. I had expected the retracement to go below 1.10138 before looking for buys, but the market seems to have turned already. However, was able to squeeze in two positions at 1.2698 and 1.2704 at the release of FOMC yesterday. Quite risky. Price is presently at a supply level, so watching the reaction here to know...

5stones Updated 

Hello traders. After the last rally, this pair looks to be in a pullback, providing a nice opoortunity to go short. I am short this pair already at 1.12170. Another opportunity to go short again could present itself at the break of yesterdays low at 1.11744. My target for this short is the reaccumulation area before the last mark up. In that reaccumulation area,...

5stones Updated 

Hello Traders, this is my view of the eur/usd. Using Wyckoff methdology to track price, we see price is in an accumulation trading range (TR). We've had a spring action, and a sucessful test of the spring, as such we are now in phase D of the Wyckoff phases, which will be a show of strenght (SOS); price aggressively marching out of the TR. As such, I'm on the...

5stones Updated 

OANDA:EURUSD Hello Traders. I'm anticipating a potential short on the eur/usd which could possibly trigger today at the release of news on the USD an hour 30 mins after NY open. Price reacted off an area where we had a rotation on the daily, and this seems to be rotating as well now. We have a change of behaviour in price action, which is why I'm anticipating...