Hi Guys , Just quick update re the Eur Jpy pair I had posted about earlier. It seems like we may get to test the order block pretty soon. Price is still sitting atop the 5dma , so buyers really forcing this thing up into the order block zone where the bearish bat also has entry level. Price also bounced bottom of the channel and I think we may get little...
Hi Guys, The Eur Jpy has made a strong move up over the last few days culminating in a double bottom on the daily with a bullish hammer candle on the 50 MA ( orange line and AVWAP from the low (black line). The 20 ma (blue line) was resistance and then support again with another hammer candle on top and price is now over the 5MA , again indicating the strength of...
Hi Guys, A potential bearish shark pattern is taking shape and almost at completion/ entry point. Entry level being 88.6 to 1.13 at point D .. I've taken the entry point on the chart as far as the shark pattern will still stay valid...i.e the BD line remaining between 1.618 and 2.24 ( I usually allow +- 0.10 on the fib ratios). Entry point aligns nicely with...
Hi Guys The Eur Jpy has had a nice move up and is nearing strong resistance which this bat has entry point at
Hi Guys, The CAD CHF has faced relentles selling for quite some time now and bears have just kept grinding the price further and further down. It seems that we may have come to a bottom for the time being at least and we may get a reversal. The AUD CHF has also strengthened and the CHF JPY is finally showing some weakness after a massive run up over the last two...
Hi Guys, I posted previously regarding the bullish outlook I have on this pair. Currently price is in a pretty strong resistance by the way of three downward sloping trendlines marked on the messy chart, as well as a pullback into the fib golden zone from its most recent swing high. The main black trendline is the one that will lend more weight to a breakout to...
Hi guys, A bearish shark harmonic pattern appears to be forming on the Nasdaq 1 hour chart with the entry point, rather range of 88.6 to 1.13 extension ideally located near the upward channel that the Nasdaq has seen selling pressure during this uptrend. Safe Trading all
Hi guys, The bullish engulfing candle right at the bottom of the channel zone suggests to me that there are still plenty of dip buyers for the S&P 500. (Ive adjusted the channel zone so it now fits the candle as there wasnt a serious breach red candle close below it) Support in the form of the 20 ma and currently price is on top of the AVWAP from previous...
Hi Guys, After 3 weeks of inevitable selling pressure the Eur Jpy has returned to the scene of the crime for another showdown. The big M resistance to the left was always going to ensure that bears would take control wheln price arrived there after the big selloff. Price has also formed a wedge that could break either way ( looks more likely to the upside. I...
Hi guys, not much to go into here. Simple sell at key resistance down to support. Clear stop and TP.
Hi Guys, Here we go again. Another attempt at trying to countertrend sell the Nasdaq. This is a lower time frame idea only for a slight retrace into previous resistance or support where I can add long positions. Ive actually opened a sell trade as I wont have time to be in front of the screens for a while. The trend zone that the Nasdaq is currently in has...
Hi Guys, The AUD/CHF pair has been in a pretty long downtrend as of late but having had a good look at the weekly and daily chart, this pair is showing some really nice bullish characteristics, indicating a possible strong move to the upside. The three dashed black lines are shaping into a VCP (Volatility Contraction Pattern, coined by Stock Market Wizard Mark...
Hi Guys. The GBP/NZD pair is approaching a support level that has some nice confluence to warrant a possible long trade. The shaded box it is approaching is the fib golden zone from where the pair bottomed to its recent high. There is previous resistance likely to become support that has not been used yet. 50 day MA ( orange line) is hovering in there and...
Hi guys a bearish butterfly pattern has completed on the SP 500 chart with entry coinciding with the 1.13 retracement of the index from bear market high to low. Safe trading all
Hi guys Currently the Dow Jones on 1 hr time frame is getting near to completion of a bearish bat harmonic pattern. Only the C retracement of A to B isn't quite what it should be (0.886) but the rest of the pattern looks decent. I dont know if you can call it confluence but the completion point is perfectly positioned to be just above the high that the Dow bulls...
Hi Guys, Ive just opened a sell trade on the Nasdaq using probably the simplest strategy that I make use of from time to time and which has given me some really nice risk to reward trades in the past. Im actually not that confident of this trade working out because of the ridiculously bullish nature of the US indices at the moment,but its worth a shot. The...
Hi Guys. I am still bullish biased on the Russel. At the moment the index is being supported by the 50 ma and directly overhead has resistance by the 20 ma. The pullback to the current price is also a retest of the downward trendline it broke out of. Should the Russell make a bullish move from here and clear the most recent swing high that would look like a...
Hi Guys just looking at the Eur Jpy pair at the moment and looks like after pulling back from resistance could see a possible bounce on the 5 min or 15 min chart for a pretty good risk reward trade. I am actually watching this pair in anticipation of it making a move up to a daily order block around the 162.6 level and seeing if I can start a long trade ( not...