Leetrader

Leetrader

After a 5 wave advance, we can see the MACD losing momentum so we are close to a short term drop in the Dollar.

Leetrader

The Pro-Trading System has now confirmed the short red signal on the Dow Weekly chart. We could see a big drop from here and after 4th July.

Leetrader

We are starting to see the same pattern we saw in Gold, Bitcoin and the Dow which ended major trends in these markets. The Dow Weekly chart is now firing a red PTS signal short. Indicating more downside which could last years.

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We think we are in a wave 4 on the 4 hour time frame. So looking for more downside on this chart back to the 38.2% retracement.

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Here is a market that I like for more downside. We have broken the bullish channel and now it could be time for more downside. Our PTS signal is now confirmed short on the Weekly chart.

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Continues to fall as we see the Dollar index in the wave 5 zone. Be aware of some bullish divergence down at these lows on Cable. We have seen may time divergence fail but it always good to keep an eye on this.

Leetrader Updated 

GBPUSD is doing the same as the EURUSD looking for some more upside today and tomorrow but the price will soon reverse with a PTS sell signal. We have a Brexit vote today at 3pm so that may put some fuel in the tank. However, it won't last long as I'm looking for more downside in the coming days/weeks.

Leetrader Updated 

I don't normally trade the NZDUSD but the chart looks very clean we the Pro-Trading System on it. Started to nibble on the short side today. I know the Dollar is playing out a 4th wave retracement and so we should be seeing the NZDUSD pushing higher but, we are I think this could be a good area to enter. Stop placement wouldn't be so far away and the reward would...

Leetrader

As you can see from the chart we have rallied to the 148 area where we meet a trend line starting from the middle of April. This is an easy 20-50 day trade. The weekly timeframe is retracing back to the the 20 and 50 ema so we could see the GBPJPY stop here and makes its next wave lower. The 4 hour chart is extended and maybe a good place to short.

Leetrader Updated 

We are looking at a wave 4 pullback in this 5 wave decline. We should see prices get to 11800 and possibly 12000 before we roll over and make our 5th wave. The dollar index support sits at 9241 so we will be setting up shorts on the EURUSD if the dollar gets here. Update 5.30pm - EURUSD has a nice pop higher from 11660 to 11720.

Leetrader

A strong move higher on Tuesday morning brings this chart into a very interesting daily resistance zone. If we believe the 5 wave sequence is complete then we should push higher into a wave B. The B wave attracts the last of the bulls who will soon be disappointed as price fails to go higher and then rolls over. Today we are seeing a brand new buy signal on the...