ggcforex

ggcforex Updated 

Well, I am positioning to buy Gold. Amidst the "risk off" market, there are a lot of buyers and they have nicely pushed gold above the 200 ema, 100 ema, with a nice cross of the 13 ema. I like how this chart looks! A classic buy opportunity. Once market sentiment remains ( Keep eyes on Trump!) ...I am looking to enter a buy at the current sweet spot of...

ggcforex

A sell signal was triggered on this pair earlier week, with bears pushing price below the 200 ema. I was able to make profits off of a short trade from the 200 ema. After 20 pips my Trade Manager expert Advisor, always brings my stop loss to break -even and takes off 50% of my trade position. The balance of my trade position on the EURJPY was closed off at...

ggcforex Updated 

The Market continues to be in a slightly "risk off" mode for a second day in a row. Risk currencies including the EUR continues to go lower in demand. In my last post, I said I would observe price action at the 200 ema level on the EURJPY hourly chart. At the end of yesterday and into today, we can see that the bears one the battle! My current position is now...

ggcforex

In a market as volatile as this, there is the intense urge to trade! Many traders are going to get caught with a trade they don't want today, especially if they try to get in at current levels. Many believe they have a crystal ball and just knows that the market has bottomed or topped....... Well one of my mantra's is...I never guess the market has bottomed or...

ggcforex

Today we have seen the USD fall against the JPY amidst soft economic data and lower yields on its current 10 year bond. Notwithstanding, I wouldn't go as far to say that the bears have gained any major territory as yet. The pair remains bullish, and this retracement may give bulls an opportunity to buy at a decent level. I am targeting the 113.00 level at...

ggcforex

I consider the market to be consolidation (ranging mode) again today. With major market options expiring today and over the course of the week, this is expected somewhat. The mover and shaker of the day however, in this "doldrums" of a market, is the GBP. It has fallen against most other currencies, strongly against the AUD and USD. In the GBPUSD, neither the...

ggcforex Updated 

In my previous published idea for USDJPY, I said that based on current market conditions, USDJPY remains bullish. We saw a retracement of price to key levels of support, as anticipated. The level of support that is holding currently 113.57. As indicated by the "yellow lines" on chart, the next level of support at which bids can enter the market is at...

ggcforex Updated 

As expected the market gaped up over the weekend on Macron's win. EURJPY remains bullish overall. The gap was quickly filled (major bulls profit taking) and price has once again visited my yellow line as of this morning Although there is a pretty nice bearish head and shoulders formation, nonetheless, thus far price is bouncing off of the 123.00-123.20 level.I...

ggcforex

The demand for the USD has regained some momentum in the currency markets. One of my mantra's is to go with the trend. Price has moved and remained above the 100 MA on the daily chart. USDJPY and other like yen pairs are all bullish overall, as the yen continues to be weak as a result of supply. The USD is the mover and shaker today. There is no way I am entering...

ggcforex Updated 

Finally after some extended consolidation, EURJPY has extended its move to the upside, as risk appetite grows off of Macron's slight lead in UK's pre-election polling.Currently we see that the pair is pulling back off of the recent high of 123.62, as ADX signals overbought conditions. Once ADX does not dip below 20, I am looking for bids at 123.39, 123.20 and...

ggcforex

USDJPY continues to move in a trending pattern after breakout of consolidation range last Friday. The pair gaped open on Monday, and filled in price by a retracement to prior resistance level at 114.83. In a trending pair, prior resistance becomes support. We have seen a bounce at this level with Fib Confluence off of the 0.382. How to trade the pair now? Well...

ggcforex

So CADJPY triggered long in a my Weekly Swing trading strategy. It's simple, wait for weekly and daily charts to trend in the same direction and enter on a 3 hr chart signal. Now that CADJPY indicators has firmed up on the weekly chart, I see the weekly candle is touching the 200 ema. Undoubtedly , I expect to see some profit taking (retracements) at this level....

ggcforex

USDJPY and GBPJPY continues on strongly today in their bull trend. Usually yen pairs correlate and move together. Although EURJPY is bullish on the weekly and daily charts, it has failed to break out of its current range (as observed on the 3 hr chart) as a result of overall euro weakness. Should one remain bullish "intraday" on this pair? Well, the fundamental...

ggcforex

Usdjpy remains in overall bullish trend on the weekly and daily. We have seen the pair go into consolidation on the 4 hours and daily chart over this week. Yesterday we saw a formation of a bullish engulfing candle on the daily chart. It signaled a coming bullish move. Today we see this is playing out. A close above 114.79 on the daily bar will confirm a continued...

ggcforex

GBPJPY crossed the barrier of the 200 emA on the daily 5 days ago. As expected the market has pulled back to take profits and complete its natural retracement cycle. Today we see a potential bullish engulfing bar forming on the daily chart. If this bar closes at the end of the day as an engulfing bar, it augers well for the continued bullish outlook on the GBPJPY....

ggcforex

Without factoring OPEC/Oil issues, pure technical analysis of the the NZDCAD indicates on the weekly; that this pair is ready to rollover- to the short side. Price Efficiency Factor indicator has turned downward on weekly 2 days in a row. This pair has not turned short on the weekly since April 2016. The daily chart shows price entering into a range on the (...

ggcforex

BUy orders in direction of weekly trend can be place at 143.98 or 143.55. Stop Loss if used, should be at 143. Target 1 - 145. Target 2 - 146.50. A more cautious entry would me to monitor MAADX for color change -red on the 15 or 30 minute. Renter when it changes back to green

ggcforex

Last week I stated that there could be a possible long setup n the GBPJPY weekly chart. As of today, this pair has succeeded in breaking through key levels of resistance to confirm a new Up-Trend. A sustained close above the 200 ema on the daily chart will boost bulls confidence even more. However, caution in leverage and lot size risk should be taken as there...