We are seeing a downtrend with the MACD downward cross
Great bearish rejection, Long looking for profits at 0.38 and 0.5 mark.
I see a nice forming downtrend, in which to retrace some of the what appears to be an over extended bull run, now showing signs of exhaustion.
Look at this beautiful downward trend. As George Soros said, the trend is your friend.
Long on the NZDCHF Monthly with Tight Stop
I see a forming downtrend on the CHF JPY as we meet all time resistance at the top, on the monthly chart.
The GBPAUD is meeting resistance at the 2.13180 line, as we see 2 failed attempts to break higher. I have included the 4 hour chart as this was used for my entry. I am looking to play it smart, with no defined profit target. Stop loss will be above the trend line, if we confirm a close below during US trading hours.
On the EUR/USD, I have entered a trade on the 4 hour chart seen above. The 4 hour time frame is being used as an entry for the weekly time frame. I have clearly chosen my entry at 1.10286, with a stop loss of 1.1017. This stop loss was chosen, as an exit point, because it is below the last 4 hour candle closed, which was a doji dragon fly, on the LR 50 Bottom....
We are seeing range trading, I have shorted at the top.
You will notice the bulls have failed to break above the LR200 line. Also refer to the weekly chart, in which we are testing the 200SMA.
Technical Analyses So my reasoning for a Long Position on the CAD/JPY, like all good positions started off with bigger picture thinking. There is often a Chinese proverb I think of before I make my trade, that goes "to know what is inside, you must know what is outside" - Chinese proverb. Starting with the weekly Dollar Yen chart, I originally saw an...
The NZD/USD has come down from its all time high of 0.96600 recorded on 2014 March 20, only to rally back up one year later and test the 0.9600 line on 2015 March 23. You will notice the Fibonacci line I have Drawn from 2014 March High's to 2015 June's lows. This shows further support and resistance, further surmounted by Supply and Demand Zones 1, 2 and 3. A...
Since we have entered the LR200 we have made two clear legs up as drawn with the Fixb Extension. Currently the LR50 is downward indicating a correction before our 3rd leg up. My entry is based on the 2.B position of the numerical ordering of wave theory. 1 - Impulse 2 - Corrective 3 - Impulse 4 - Corrective 5 - impulse A. B and C are part of a correction of...
The New Zealand Bank is getting ready to drop its base rate. On wednesday June 29th RBNZ's governor gave a speech accouncing that a drop in base rate is needed for stimulation of the economy. Due to low export prices for commodities and the expected foreign debt situation. The Aussie is suffering with low iron prices and the weak Chinese stats. If Iron ore...
Note-This is indicating my short on the USD/CAD not the EUR/USD See also Commitment of traders report, in prior blog. As Danske Bank USD/CAD stands: Danske Bank Technical Update Thursday 23 July - 07.00 CET USD /CAD - Buy at 1.2991 for 1.316 STOP AT 1.2905 Minor Upwards trend Moving Averages 200 Day - 1.2700 500 Day 1.2469 2000 Day 1.2121 RSI...