About meCharts/Ideas/Descriptions posted are my own and are in no way financial or trading advice. I accept no liability for any losses you may incur as a result of you relying on anything I post to be accurate.
Long cable off the yellow highlighted zone,
lovely channel formed to sucker in dumb money.
not much volume below the 50% retracement has me expecting a bounce around here at my key support/resistance yellow zone.
the channel breakout is a confluence and we could see a classic fake out play to sucker in weak shorts and trap them before the pound continues its...
basic fib analysis confluenced with some key levels from weekly charts
i will be entering at the 50% retracement level if we get the rally up i predict we will. the shorts could easily tested and have their stops take before we see a move down to the POC.
POC at 0.83755 is my target 1.
if we break 0833 low convincingly we can see shorts down to my next...
Bullish trend still holding so i will use this to frame the initial trades i look for this week.
Monthly candle has rejected off the TL and could now be in a bullish expansion phase.
weekly also shows the same signals of short term bullishness so I have used this to analyse projections based off key levels marked out prior
trendline break has me looking for longs
price approaching poc and HVN
looking for a possible pullback into support to test the longs before a move up to about 6700
sizable gap up there to be filled too
trying out something new with the volume indicator
Not much in this, I am more interested in the USDJPY short.
however if we get a return to the 50% level and price action supports a rejection i will be looking to enter long as the dollar is weak in my estimations
After the heavily bid dollar its about time we see a sell off. Looking at the data poor ism and poor nfp data has taken september hike theories off the table which could see some offering of the dollar.
technically price has rejected off a key support resistance zone just below the 62% retracement of a prior swing. With the rejection candles and pin bar close on...
Possible sell on EURGBP
Not one i like to trade too much, prefer watching for direction on cable and fibre.
Would ideally like to see a sell coming off the 50-62% retracement level
we previously ran into weekly resistance, rejected and then ran out the new highs formed before trapping buyers and selling off heavily. So far looks very bearish. COT sentiment...
Looking to see some yen strength as the usdjpy rally possibly fades off this week.
if so should see yen appreciate across the board
also noting that the dollar also exerted selling pressure on the eurusd currency so the small rally into a key level on eurjpy has presented a nice short opp.
key fib level confluence with resistance zone and a pin bar/shooting...
Following the sharp decline we have seen consolidation with a slightly bullish trend
could see a rally up to the 50% level where the lower volume area of price is (rejections and thin price movement area)
This would provide good liquidity for the shorts that many see possible with the long term bearish bias many speculators seem to have on the dollar right now.
The dollar snapped its down trend and we saw a continuation and holding of the ascending trend line to end last week.
We also ended the week with an inside day with the Fridays complete range fully engulfed in the Thursdays candle body.
Fridays close with a big bullish body inverted hammer tells me that bulls have taken control so my initial thoughts are dollar...
Since brexit cable has been trading in a well defined range which is marked out including the 50% level as this is a key level to me.
Price made a uptrend which recently break signalling to look for shorts.
a perfect entry was provided when price made 3 confluences:
Price rallies into the 61.8% level of the down move that broke the uptrend
price rallies into...
Lower timeframe view based on my linked 4 hour USDJPY chart
fib and higher timeframe level used to get an entry.
50% equilibrium of the prior significant swing has been holding very well
could enter now at Market with a 45 pip stop loss roughly at the 61.8% or wait for another test of the 50% and take profit at the brexit low of 98.991 roughly
Would like to...
Brexit lows still yet to be tested.
UJ has not been able to settle convincingly under the 100 psychological barrier.
Daily close below key weekly and 4H support could see bears remain in control at least for the show term to the BRexit lows of 98.797.
Head and shoulders pattern would support this target.
The dollar index had a small relief rally on friday but...
weekly based trade, i notice that weekly/monthly trendlines are extremely sensitive
nice reaction off the weekly here
on lower timeframes i will be looking for a pull back that will provide a lower risk short
as this is a weekly based trade S1 target will be a monster on its own
strict trade management will be used if the opportunity presents to ride the trend...
Looking at the chart the key for me is the weekly support which has not been tested
USDJPY is currently in a range marked clearly on my chart.
The MTPC indicator marks out trading days making it easier to note that we have 2 weeks worth of stops built up under the lows of the range marked out by the red demand order block.
Anyone long from August 2nd is likely...
we have seen Gold rally into a supply Orderblock around higher time frame resistance and bears take control.
as we can see there is a shorter term downtrend price has formed.
if it continues then a good buy exists around 1330-1331 up to about 1350
If the level does not hold, i will be looking for shorts down to 1310 where we could see a bounce as i do...
See this pair reaching down to 72 meaning lots of opportunities to get on board intraday.
swing trading wise i would say that there is no safe entry left to hold,
after the beak of consolidation around R1 there was a great sell offered from the sharp fast move into the level to retest around 88.7
Pressure on oil can weaken the cad and make this a more...