EURNZD - We are bearish on both currency pairs so this isn't a trade setup we would usually be looking for, however this is setting up nicely for a monthly swing down to the 1.70500 zone which would give us a decent 450 pip trade.
We will slowly build a position on this pair with entries around 1.74600 depending on bearish price action in this zone, and a 60 pip...
GBPJPY has hit the monthly bearish target early in the month and so we are expecting to see a nice rally up to the 134.000 level with a potential 500 pips on the table.
We have a nice 4 hour bullish engulfing candle so we are waiting for price to pull back into support before looking at long opportunities going into tomorrow.
Stops will be below the low and as...
With the recent strengthening of the USD for various fundamental reasons that we discuss in depth with our clients, we have seen a sharp decline in the price of oil (not necessarily a sell-off - don't confuse the two!).
We expect the USD strength to continue into next week and so we are looking to short USOIL after this bearish corrective structure has now broken...
The Australian Dollar has been weak of late, and with the current risk off sentiment we are expecting a shift back into the worlds safe haven currencies of JPY and CHF.
Our favoured pair for the coming week is AUDCHF with a beautiful 15m bearish engulfing candle right off of our level of interest at 0.68630.
Initially this trade has been taken as a day-trade...
LTC/USD put in a 5-wave correction down to previous lows which gave us an opportunity to take this long position.
Stops have now been moved to break even and this is a risk free trade up to the target of $154, with some resistance expected at the $150 even handle number.
This is a swing trading position however we are also trading this up on a day-trading basis,...
GBP has broken support at the Weekly Pivot Point and proceeded to a 127.2% extension.
I'm looking for a pullback into previous support turned resistance to short down to the Weekly S1 at 1.29000
Here is a better pic without indicators:
EURUSD is flirting with the top of the "no-fly zone" and has put in a top just shy of the Monthly M4, the predicted high for the month.
Price rejected the 1.15800 level, or 20 pips shy of the 1.16000 even handle which isn't a surprise, and has subsequently retraced back down to previous minor S&R together with dynamic support found in the 1HR...
Last week EURJPY made a strong bearish rejection from a confluence of pivot points; both Weekly and Monthly R1's.
The 4hr Stochastic went oversold and is now trending down
The 4hr MACD is down
The 4hr RSI is trending down
The 1hr Stochastic is currently overbought
The 1hr MACD is down
The 1hr RSI is trending down
I am looking for a move up to the 129.500 area,...
GBPUSD has been making higher highs and higher lows since January this year. The high made on Friday 14th July is the highest this pair has been since September 2016.
Price is trending above the 4 Hourly 21, 55 and 200 EMA's.
Price bounced on the Weekly S1 at a 50% retracement, just above the Monthly M2 Pivot point on Wednesday 12th July. Pivot point theory...
I don't usually trade Elliott Wave but this setup jumped off the chart and slapped me in the face while looking for reasons to go long GBPUSD.
15th August saw the beginning of the 1st wave with a double bottom at post-Brexit lows.
To kick off leg 2, on Thursday 1st Septmeber UK PMI Manufacturing came out at 53.3, above the projected 49 and far exceeding July's...