We have a potential shark pattern completing on EURAUD. It might be doing a C-D move of the shark right now. Some interesting observation: 1. NFP was on thursday, but there was a huge vol spike on Friday 2. Hidden buyer or hidden seller? I'm expecting usd denominated pairs to go higher this week with Euro leading the pack. Stock indicies should also inch...
Bitcoin looks to be rebounding off the lows last week. It could complete a bearish shark around 9640-9680. Right now is just a waiting time, will consider whether to go short after price test the entire PRZ zone. If it breaks up and hits XC 1.27, there will be no trade. If it reverses with healthy volume from the PRZ, I will be going short. This current...
AUDUSD looks to be heading north, there could be some rebound in the stock market this week I guess, with falling USD. Is the FED planning a new stimulus again. My view for AUDUSD is that it should go up and complete a bearish shark pattern around 0.6960-0.6970. It will be wise to wait for patterns to complete before getting into the trade. If you are...
Same as Aussie, I am expecting one more rally for EURUSD this week before any further weakness. I see a potential bearish shark completing at around 1.1340-1.1350. We can either wait to short the shark or do a buy from C-D. The C-D move will be riskier but comes with decent R:R. For shorts after bearish shark is completed, SL has to go above XC 1.27, targets...
2 days back, I outlined my strategy for trading Aussie, I was expecting a bounce if price breaks the down-sloping trendline. it finally broke above the trendline last week and AUDUSD is now completing the C-D leg of the shark pattern. PRZ1 is around 0.7030-0.7035. PRZ2 is around 0.7060 Shark has multiple PRZs, the critical part is about when to execute the...
GBPAUD looks poised to complete a bearish shark pattern. I like the volume action at the lows, which shows signs of big buyers buying in. Traders can go long from the C-D move (Buy with stops around 1.8860 and target at point D completion) Or wait for a safer bet after point D is completed. D completion is around 1.9275 to 1.9285. SL has to go above XC...
There are 2 potential sharks coming up on EURJPY. Both pointing to EURJPY going higher below coming down. The 1st mini bearish shark can yield about 100 pts whereas the bigger shark can potentially yield about 600 pips trading the C-D wave. I term this move the SAMM, where I see a rapid move from the C point of a shark towards the D point. Previously traded...