AUDJPY Daily bullish signal. Logistic Wealth Management
Strategist-Tanner Elphee
7/24/17
AUD/JPY
Forming tonight on the Daily chart is, what I know them as thanks to Trade With Precision, a PLT trade.
PLT - Precision life trade.. Or BLT (Bacon Lettuce Tomato.) The thing I love about these: they are very simple and straight forward. Just set and forget it. They require no market bias and no understanding of funnymentals (news).
Once the trade is placed there is no point in even watching the chart. Just check in on it every evening... Simple is better, and as Vera teaches us, less is more :)
Our setup candle is looking solid with a high of 88.271 and a low of 87.650.
Putting our initial entry at 88.274
Stop at 87.647
Target at 88.901
Secondary entry being taken halfway to the stop
Entry 87.961
Stop 87.647
Target 88.901
Will raise entries at close of bar. I understand this trend is looking exhausted and has officially formed a three wave thrust. However price is looking reasonable up here and we are clustering at a major level of support.
Comment, like and subscribe! I'm always open to others opinions!
Disclaimer: Trade at your own risk. LWM is a fictional trading firm at this time. Patent pending.
JPYUSD
How to Profit on GeopoliticsThere is a new topic in the market – geopolitics. And I know how to take profit on that! In the moments like this the market is focused on such safe haven assets like CHF, JPY, USD and gold. At the same time risk assets like RUB, AUD, NZD come under selling pressure. And this understanding will help us to find interesting crosses.
So, yesterday, Donald Trump promised to hit North Korea with fire and fury in case of any signs of danger to the USA. A couple of hours later we learnt that the KPA strategic force was now carefully examining the operational plan for making an enveloping fire at the areas around Guam with medium- to long-range strategic ballistic rocket Hwasong-12 in order to contain the US major military bases on Guam.
If the speculations keep going and the escalation is rising, the crosses like AUD/JPY have all the potential to fall further. Forthepairtheinitialtargetmaybefoundat 86.00 followedby 85.60.
JPY: Continuation of the uptrend.Long-term consolidation is broken up. It makes sense to consider the possibility of opening a long position with a target in the area of long-term resistance level of 118.66. The situation with the Nikkei index was not in favor of a long position in the yen. Correlation of the index and the yen is still preserved. But if the dollar strengthens against all major currencies, there will be a sense in opening a long position.
Monster Wave!'
Japan is seeing some strength within their markets. I believe confirmation came after Prime Minister Shnizo Abe' and President Trumps meeting in Mar-A-Lago. Coincidence?... maybe.. maybe not. I believe the talks of strengthening Japans dominance in Eastern Asia along with the United States withdrawal from the TPP supplemented this move quite nicely. I love analyzing Japan because they have far less moving parts to their economy than we do here in the US. Nonetheless I do see Japans GDP advancing another 2% for the next two years (1-1.5% annually). The NIKKEI forming some beautiful momentum. It's been on quite the run. My projection is that they will top out around 22081 in the next two years. Slugglish growth is still growth... The Japanese Yen is also slipping against the dollar nearly a 10% since the beginning of the year. Wage growth could see a slight move up but not by much... All is good in the foreseeable future the only thing I worry about is their staggering Debt/GDP ratio (250.4%!) given their size it should be that high, but We'll keep that analysis at bay, and cross that bride when we get there. O Wakare! ( Farewell :)
NZD/USD is playing in wedgeNZD is playing in between wedge & it will break the trendline so i'll be on sell side because,
1. USD is getting stronger atleast for 1 or 2 week because of Fed rate hike.
2. NZD GDP q/q data come less then forecast.
3. So you can also go for buy JPY because it will also going to break it's falling wedge
4. You can go for Sell NZD/USD & Buy JPY/USD.
Target is 0.6958 expecting in 20 to 30 days.
This is just an idea & an attempt to predict the future price movement.
Weekly Perspective (USDJPY),(JPYUSD)Hey Guys,
The pair is Inside the corrective structure & a short term upside move is possible I will be updating this pair on the smaller time frame so that you guys can see that it is forming a trend continuation pattern which is the ABC corrective structure & that move will complete its corrective structure & we may see a strong impulse wave to the downside.Very Much short term trade to the upside on trade that if you have a strategy or wait for more confirmation to enter short.
Note: Everything works with Best money management.
Note: Please leave comments for any query.
Disclaimer: Trade at your own risk.
Good Luck...!!
Regards,
Growing Forex Team
Currencies - A tour of the weeklysAUDUSD
ADX: Signaled price consolidation starting week of 3/27/2017
DMI: The week of 01/09/2017 a buy trigger was set at .7493. For the next 15 weeks, this line held price. However, on 04/03/2017 a sell trigger was set at .7501. Although price has closed below this line since then, it has still been held in check bu a non-trending ADX below 20.
TRIX: Below 0 a bearish signal but is now up over the 10 period HMA and trending up. This has set a new secondary resistance line at .7456
Bottom Line : For long term trade, stand aside until price consolidation breaks out
CADUSD
ADX: Since July of last year, ADX has been below 20 and drifting signaling price consolidation. To-date, the best pattern loos like a channel
DMI: -DI is currently dominate but +DI is close to challenging.
TRIX: Has crossed up over the 10P HMA setting up secondary resistance line at .7395. Although the TRIX is below 0, both are trending up and price has closed and held above .7395 for past 2 weeks.
Bottom Line : Watch for a buy trigger generated by DMI. If price closed up this week, then it would be a buying opportunity
GBPUSD
HMA on price (21 and 45 period) are both trending up
DMI: is signaling an up trend. A buy trigger was set week of 3/20/2017. 3 weeks later, price closed above this line and has held
TRIX: Moved above 0 with DMI buy trigger. Most recently, it set a secondary support line at 1.2867.
Bottom Line : Look for support at 1.2472 before next leg up begins. Use the TRIX to act as the trigger (TRIX crosses up over HMA with price follow through)
JPYUSD
ADX: Below 20 signaling price consolidation in the area of the box
DMI: A buy trigger occurred on 5/15/2017 at .8991. However, with ADX below 0, no action should be taken until the consolidation pattern is identified and breakout direction is determined.
Bottom Line : A close above .9603 and hold with TRIX continuing up would signal a buying opportunity.
Gold outperforms the Yen in 2017The central banks essentially have unlimited power to prop up the stock and bond markets. In the past, Stanley Druckenmiller found that the loss of liquidity caused stock market crashes. The central banks learned from this and just keep injecting more liquidity to prop up the markets in the face of insurmountable debt loads. The Bank of Japan buys both bonds (quantitative easing = QE) and stocks. The European Central Bank buys bonds. The US has stopped buying bonds for now. Not only are the bonds and stocks in a bubble, the central bank balance sheets are also in a bubble. Mr. Druckenmiller sold all of his gold the night of president Trump's election in November, 2016, and reentered gold in February, 2017 (source Forbes). Many economists and traders predict inflation (gold rising) while Harry Dent predicts deflation (everything falling including gold). I am long GDX.