This is a short term bullish head and shoulders pattern, it's clean and working well, there's plenty of time for entry and the move up into 114.50 area. Stops should be below the right shoulder, target at 114.50 and entries around 113.90/114.00 Let's make some pips. Done. Period.
USDCHF has done NOTHING for a long time and now it looks like it's almost ready for something kind of big. We have a great longer term pattern setting up there and we're looking for opportunities to buy dips when/if this pair retests the break out area. Here are a few scenarios: 1. buy dips around .9800-30, stops down around 9600, target 1.0300 (max...
If you haven't been trading NZDCAD, you've missed out on some great pips/trades/profits/rides to the bank whilst laughing/etc! This pair can be abusive, as long as you go into it knowing that everything is mucho easier! OK here's what I'm doing AGAIN on this pair, I've been shorting it from 9650, in and out several times. This recent retracement has pulled...
I've been discussing selling EURUSD for some time now, it keeps pulling back small and selling off bigger. There's assortment of pivots that make it look like a trend is starting to pick up momentum. Draghi's comments today had some pretty serious mixed reactions for euro pairs, the overall takeaway was, we're probably going to sell the curly hair out of the...
USDCAD looks ready for a buy potentially. The BOC talked about stimulus today, the cad got clobbered. Oil isn't looking very supportive of a massive CAD move towards weakness but 100-300 pips doesn't look out of the question. Simple trade, buying trend line break, locking in profit along the way, seeing where things go from there.
USDJPY is definitely a pair I want to be long and buy every opportunity. However the mixed movement with USD pairs makes this a possible sell trade for the short term while we wait to buy dips. All jpy pairs look like better buys than sells but I would consider shorting this down to the weekly pivot for 100 pips. If you're not feeling aggressive, wait for dips...
NZDCAD has been Christmas time, it just keeps giving up pips and pips. If you're not in yet or you've been in and out, here's another chance to grab a quick 100 pips. It's pretty easy, we have a bear flag, we want to sell the break and target big support at 9300. If this pair can pull back towards the missed daily pivot we can get some nice entries short...
USDCHF (chart posted yesterday), DXY and EURUSD are all lining up very well and confirming one another. Here is the big "what if" and of course it's related to another central bank being central banky! Yellen speaks wednesday, expect plenty of USD volatility... PLENTY! IF these USD pairs can hold trend lines and support then we should be ready for some big...
AUDUSD, EURJPY, USDJPY, AUDNZD, NZDCAD and many other currency pairs are all setting up for 500 pip plays and we want to be ready for the action! DXY needs to confirm with a clean break out on the daily chart (it's nearly there) and we need to get past FOMC minutes on Wednesday but barring anything super crazy happening there, we should see a clean move on...
Some can trade gold, some can't and some just don't care. Here's the deal folks, like it or not gold can be telling of larger things to come. It's true gold is a wild mover and it's also a great indicator of larger movements across the currency market, particularly with the USD. The US dollar has been unadulterated garbage for weeks now and all of the sudden...
The weekly chart is pretty interesting looking here for a few reasons: 1) we had a large channel break and have run up steadily into 4 year old resistance (8800 area) 2) if resistance holds, I want do short below 8800 for 100-200 pips, maybe more but at least that. Then look for an entry long around the .8000 level 3) if this all plays out we could see...
Worse case scenario hopefully this is just a channel break and there's a trade to be had at the break of the channel. However I would love to see one more small leg of confirmation and see if this can turn into a head and shoulders pattern. I want to see 60-80 pips of profit, I'll short at the break of the trend line/quasi-neckline. .8525 is a great short...
We are sitting at a solid decision point, we have 500 potential pips to go either direction, 1.7000 is going to be an important area to know where this pair is headed in the short term. AUD pairs are setting up for possible bearish movement, making this set up very interesting. However GBP pairs remain a little heavy and possibly mixed. Enough AUD weakness...
AUDUSD was kind enough to give me 50 pips a few days ago, I don't trade this pair too often but I'm getting more interested in this because of a multi-year channel we have to work with. If this pair break up or down we have a long way to go to to the bottom of this 4 year old channel. If it break up we have nothing but smooth sailing to the upside. I've...
GBPCHF, along with so many other GBP pairs, looks like it might be ready for something big. The head and shoulders pattern on the 4 hour chart has a price projection of 700-800 pip ((laughing all the way to the bank)) and we have a falling wedge (the blue trend lines). There is a lot of bullish patterns in the works here, I'm ready for GBPCHF to starting moving...
You may have noticed USD not showing much direction, it's because of this little guy here, the US dollar index. Until this breaks out of the nice little wedge that's been holding it prisoner for months and months, we're likely to see USD pairs struggle. So we need to watch other currencies that have big strength or weakness. This doesn't mean USD pairs won't...
There's been discussion if this is a quad top or an inverse head and shoulders pattern, seems strange to have an inverse H&S pattern at the top of a trend. So i'm going with a quadruple top and I'm already short at 9585, if we get closes above 9650 I'll close with a loss and get long, however if 9650 holds, I'm riding this down to at least 9000 level, anyone...
0.7500 area (give or take a few pips) could be a much more important level than anyone is noticing. NZD has been rallying non stop and gain against most pairs... WELLLL most NZD pairs are showing levels of overextension for NZD strength. EURNZD already made a nice move towards NZD weakness, NZDCAD, NZDCHF, NZDJPY and others are starting to smell bearish. So...