What an Epic drop on the GBPUSD yesterday just over a 3.5% drop after finally breaking the 1.14 Monthly support dropping pretty quickly down towards the 1985 Monthly Lows after such a move down we should expect a short correction to happen before pushing back down. The best place to position ourself for a SELL is to wait for price to retrace back up towards the...
We are in times of HIGH volitilty so the best charts to look at and analyze for clear market direction is the Monthly and Weekly charts especially the Monthly as that is were the volitility is and big moves happen. Looking at the EURUSD Monthly chart we can see at the end of July we got the Monthly break and close under the previous LOW/SUPPORT marked on the...
Today I am posting on the NZDUSD pair getting ready to go LONG on this pair as we can see it's been trending down pretty hard and we have entered a HUGE Monthly DEMAND/BUY Zone which is actually the 2020 crash area this is quite a large zone so soley entering inside this zone based on the Monthly charts is pointless.. We are best locating a Weekly DEMAND/BUY...
Just a quick update on the CHFJPY SELL position I have been in and posted about you can read the post below I was aiming for the 144 which was the current trends previous high and would be the first easy target when this market dropped as it did today. I've closed 75% of the position and will leave the rest running as this can turn into a nice trade The money is...
Just a quick update on the USDJPY SELL position last week where I wrote in the post that iit looked like 145 was the level to be wary about Japan intervening in the market as on both occassions price hit this level last week there was strong warnings from Japan, today the market pushed up towards 146 and Japan stepped in to Buy YEN and Sell dollar. You can read...
Just a quick update on the post I posted yesterday on the DXY intially it went as expected after the news spiked to NEW highs and then quickly retracing back under the 110.750 previous high though with the hawkish tone from the FED we quickly rallied back up to NEW highs and we got the DAILY close above the 110.750 high as I said if this happened expect more...
The Dollar is on the march again with the FOMC decision and statement today looks like to be pushing for another Yearly high aiming towards the HUGE Monthly SUPPLY/SELL zone that starts at 119 though that's the LONG term target there should likely be a correction before that happens. I had posted a couple of weeks ago about a SELL position 2 weeks ago you can read...
Just a quick update on my earlier trade idea for today received a SELL signal and have entered the market and will target areas mentioned in previous post Happy trading
We are approaching a HUGE monthly resistance @ 1.135 where price has dropped sharply from before and given the fact that the uptrend on this pair is extremely over extended and very over bought given the 12 month straight rally from the bottom of the range. I am expecting a pull back on this pair very soon at least to the previouus high that was taken out. The...
Last week the EURGBP broke out of a weekly resistance area and closed thee week well above it , the pair has also been on an 8 week up leg which looks to be targeting the weekly SUPPLY/SELL zone that starts around 0.89 before we hit that i expect a small pull back down towards the resistance that was broken last week. So today I will be looking to SELL this pair...
Looking at the Monthly and Weekly charts a clean drop down towards $12,000 is on the cards if we get a weekly close under the current down trends low at $18,000 as I've drawn on the chart the $12,000 area is a nice Monthly DEMAND/BUY and is the area where the previous uptrend really took off from we do have a previous HIGH around the $14,000 mark this may offer a...
We have finally got a WEEKLY close on GOLD under the 1700 level which was a huge support level at the bottom on the sideways DISTRUBUTION range we have been in since 2020 so were to next ? As you can see the green levels I have marked on the charts we have a MONTHY DEMAND/BUY zone that starts at 1600 and a Weekly DEMAND/BUY zone starting at 1630 so I expect the...
Just a qucik update on the CADJPY trade from this week as I wrote in the last post after price had took out the 2008 HIGH and then close back under this level then we would get a correction down towards the 107.5 area which was the previous high in current trend. This scenario played out last week with us selling early on Monday morning and dropping down to the...
Ok finally we have a Daily SELL signal on my indicator as per my post on the 07/09/2022 were in my analysis of the CHFJPY I was looking for a signal to sell above 146 as we entered a long term SUPPLY/SELL zone. This pair has rallied pretty hard since I posted that analysis and there has been no signs of it slowing down till today after it broke the 150 mark...
A lot of strong comments coming out of Japan today similar to last week when price was at the 145 will an attempt to break this level result in actual intervention ?? The Yen pairs are all selling off after the latest comments I am waiting for a confirmations SELL signal on my indicator to enter the USDJPY.
Quick update on my GBPUSD analysis from the other week the first part of the idea has went as thought we got the buying reaction at the 1.142 level which went all the way up towards the first target area above 1.17 which was the previous weekly low that was taken out in the current trend to reach the 1.142 low. As explained in the post once the 1.172 previous...
Yesterday I posted a SHORT idea on the USDJPY were I was looking for a break and close with SELL signal on my indicator of the bearish flag pattern that was forming while paying attention to the CPI which came in above expectations and blew any shorting opportunity out the doors lol. As explained yesterday if we got a break above Monday's HIGH we would then go up...
Yesterday's CPI data in the US was like a bomb in the markets things went a little crazy during the US session after the news this resulted in my short term trade idea on the GBPCHF which triggered yesterday to get stopped out it happens this is trading :) I still believe that we will get a correction up towards 1.13 though we have now broke the 2020 low and you...