Get started

Bias

USDJPY REVISED PROJECTIONSHello traders, After the BoJ fiasco I had to restate my assumptions and my long term bias on this pair. It seems as though the BoJ wants to drive price below 100.00 before announcing massive QE programs to address their debt issues. A strong yen will highly impact exports on the downside and they don't want that. Even though I was anticipating this from much earlier that wont seem to happen in the near future. As instead the bears will hunt USDJPY further down the road. . So it's very dangerous calling a reversal at this point and very risky indeed. If you didn't go short on the initial move its highly recommended that you stay out of shorts either. There are many supports in between and a lot of structure below this level. My analysis shows certain prices to keep an eye on. Don't use this information as a signal because the signal should be generated depending on how the price behaves around those areas. Wait for PRZ to be tested. And act accordingly. If you see price showing a complete disregard for these levels might as well follow the trend. Trade safe, trade well.
Long
by fromzerotospyro
AUDUSD potential future tradesThe weekly channel that the AUDUSD is in is still holding strong and may hold strong for weeks and months to come. AUDUSD has been climbing upwards recently before ever breaking below or even touching the 0.6800 handle. Because of this, I will be watching for two possible outcomes. 1.) Price reaches the upper edge of the channel and gives a SELL signal - I will take a sell trade at this point. 2.) Price comes back down and finally breaks the 0.6800 level and gives a SELL signal - I will also take a trade at this point. Either way, I am on the sidelines for now, keeping my eyes on this.
Short
by SubTh3ory
EURCAD: TRIPLE TOP. REMAINING BULLISHPRICE IS APPROACHING A TRIPLE TOP FORMATION AT A MINOR MONTHLY SUPPLY LEVEL PRICE HAD MADE A NEW LOW FOLLOWED BY A LOWER HIGH, HOWEVER PRICE THEN FAILED TO MAKE A NEW LOW BRINGING PRICE BACK UP TO THE 0.618 FIB LEVEL. A CLOSE ABOVE 1.565 LEVEL FOR A CONTINUED MOVE TO THE UPSIDE WITH TARGET OF 1.623 WHICH IS ALIGNED WITH THE 0.764 FIB AS WELL AS 1.27 FIB EXTENSION! ANOTHER REJECTION OF THE 0.618 LEVEL FOLLOWED BY OTHER BEARISH CONFLUENCES WOULD SEE PRICE FALL BACK DOWN TO PREVIOUS DEMAND 1.141
Long
by teewp1
FALSE BREAKSo, the first day of december began with a false break above a considerably important price. A week later it corrected itself in light of a market dominated by the bears. We proceed on the assumption (assuming is inherent in forecasting) that this bear trend is still intact unless structure says otherwise. By that I mean if '3' is breached. 5 will be considered a pivotal point in trend-continuation only if new structure lows are established (break below close below 4). With that being said, at this particular time and price, there is no reason price can't retrace higher (between 3 and 4). However, as I've said, since the false break out occurred it wouldn't be wrong to assume that this market is still significantly bearish. Whether 5 is a true retrace or not doesn't matter, because that we will not know until either price makes new structure lows or retraces deeper. I am taking sides with the bears long-term. There are plenty options since between 3 and 4 there are 1000+ pips. so by all means I will counter the trend if a solid opportunity presents. Oh and one more thing. This work is not based on elliot wave theory or any other THEORY for that matter. So take it with a pinch of salt. TRADE WHAT 'YOU' SEE! :) Thanks for reading.
Short
by WaveAlchemy