WinkyTwinki

WinkyTwinki

An ABC correction within an ABC correction.

WinkyTwinki Updated 

On the weekly chart, EURNZD looks bearish with long upper tails in the last 2 candles. In a lower time frame, it is trapped in a pennant. With FOMC later today, I am expecting it to break out of this pennant. I am waiting the price to reach to the top of the pennant at around 1.571 today to take out the weaker shorts entered earlier today. This will give me an...

WinkyTwinki

In the previous 6 season premieres of Game of Thrones, 4 weeks out of 6 end on a positive note. This week is more likely to end green than red. "Winter is coming"

WinkyTwinki

DAX has been following a downward channel since Apr this year. From this chart, one can see that the speed of movement (i.e. the slope of the arrows) between channel top and bottom touches is increasing with time. The last leg up from 10652 to 11401 took only 2 days. Is it possible that there will be a final swift downward move next week before a genuine...

WinkyTwinki

Enter trade at your own risk. Long entry at trendline touch 1.3835, SL 1.3785, take one-third at 1.4150, take another one-third at 1.4450, ride the remaining with the trend.

WinkyTwinki

EURCAD has just tested good multi-month support at 1.3750 today. This line acted as support in Jan and as resistance in Mar to May. A clean inverse H & S pattern can be seen in the daily chart as well, where this line coincides with the neckline. The H & S pattern and neckline retest signals a long-term trend reversal, which can take out June high and 2015 high...

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EURUSD recent price action revolves around the downward trendline drawn starting from Dec high last year. An interesting pattern can be seen on the 15 min chart. Whenever price broke out in either direction, it was first pulled back to the opposite direction, then a big move was followed in the original direction. This pattern has already repeated 4 times, and...

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EU was supported multiple times in previous weeks by 1994 low at 1.1069. When price broke below this line, it was seen as support-turned-resistance. This big move was likely due to huge amount of stops being placed just above this line and got taken out. Now next H4 and daily close would be important to set the short-term trend. Closing above 1.1069 would be...

WinkyTwinki

A rounding top pattern could be in play in EURUSD 1H chart. Although the current short-term trend is still up, the bullish momentum is starting to lose steam. Look for a selling opportunity if the price revisits the curve again.