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Week6

GBPUSD, week 6 as expected, ready for week 7!GBPUSD made a great bearish movement in week 6. It should provide short traders with awesome profit. Together with my entries in EURUSD, it enabled me to make an increase of about 8% in my account equity. Not too bad in my view. In week 6, we see a break down to bearish level zone 2 and it ended off staying in that zone on Friday. What would be expected might be a consolidation then a continue bearish break. It just one of the possibility that I am expecting it to happen, so if it doesn't come as expected, I would just stay out and wait and reassess the market again. I hope all traders continue to make a good profit in week 7! If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
EURUSD, week 6 as expected, can week 7 remains? A strong bearish move for EURUSD, its low risk and high returns. For all traders who shorted it, congrats! I personally missed the initiate movement of the pair, however, I managed to get in together with GBPUSD, which see a growth of about 8% for week 6 in my overall equity. For week 5's analysis, we expected a bearish move for week 6, which happened in the end. However, even though the move was persistent, I am not entire confident that it would continue to do so for the whole of week 7. I am expecting some range movements in week 7 or week 8. Therefore, even though the overall outlook still remains bearish, the very short term movement might not provide an opportunity to short just yet. I hope all traders continue to make awesome profit in the coming week 7! If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
2
USDJPY, week 6 proven, week 7's expectations?USDJPY moved upward slightly in week 6, which was enough to confirm that bear would be staying out in week 6. It then spend the rest of week 6 staying in range mode, consolidating and getting contracts. Any traders who wants to get the pair to move either upwards or downwards would be stuck with losses. The analysis in week 6 painted an overall bearish view, but I got no confidence in that, especially after the close of week 5's candle. So for week 6, I had no trades in USDJPY, stayed out of the consolidation and make no losses from this pair. The analysis for week 7 changed from short to long because of the upward move that happened in week 6. However, to remain cautious, I have low confidence and comfort in this pair. I will continue to monitor this pair before deciding any entry. If you have any thoughts on USDJPYs movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Long
by xunnobi
USDCHF, what to expect for week 7USDCHF made a strong upwards move in week 6 and only until Thursday and Friday, we see some consolidation going on. It was a good price movement for traders who long this pair. Good profit with minimal risk! USDCHF moved according to our analysis in week 6, however for week 7, it is a little mixed. In the bullish zone 1, we can see a double top pattern which hints for a reversal. If the market supports it, the trend can turn downwards without USDCHF completing the full trend of the bullish trend. So for week 7, even though the overview of the pair continues to stay bullish, I would be monitoring the movement before deciding to enter a long or short. Missing the movement is also ok for me as we have 4 pairs to monitor and endless opportunities to trade. So don't feel bad if you miss a trend! I hope all traders can continue to make good profit in week 7! If you have any thoughts on USDCHFs movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Long
by xunnobi
USDCHF, a move that didn't last, week 6 would be different.USDCHF has moved quite nicely, according to previous analysis, showing persistent in the bearish trend, and went on to level 2 bearish zone. However, in week 5, it seems to halt and change the direction. I am heavy in shorting USDCHF, and I ended with about 4% overall equity loss but was helped by profits from other pairs which ended my January with negative 0.4%. Thankfully, USDCHF did give enough time for me to review and rethink about the direction, it does it over the course of week 5. If not I would have achieved much higher losses. As I highlighted in on the graph, there is a big price swipe which breaks below the low of level 2 bearish zone and went back up breaking the high of the level 3, reversal price pattern. I read this as an action of reset because it reset the high of the bearish trend and it also creates a new low in the bearish trend. Following the reset, we see a reversal price pattern, a double bottom and followed by a price ending in the zone of the area of the reversal zone. The analysis gave me comfort and confidence that in the mid-term trend, the price would rise. I would expect the coming Monday or Tuesday to have an explosive upward movement of the price. With my current strategy, I would expect it to complete a 3 level of rising before heading down. So come Monday, I would be entering long together with short in EURUSD. I am more confident with the direction of EURUSD, USDCHF, and GBPUSD. For USDJPY, I would like to seek more confirmation with the coming week 6 movement. If you have any thoughts on USDCHFs movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Long
by xunnobi
USDJPY, reversal pattern in week 5, but will it reverse?USDJPY has not moved much in week 5, it seems to be range-bound for the time being after the flash drop a couple of weeks back. It is natural for the price to go into smaller and smaller range consolidation after a large move, so we might be in it currently. If we are going into a smaller range bound, two questions could be asked regarding the current situation, 1. How long will it last? 2. How wide will the range be? 1. How long will it last? Personally, this is a question that at this moment, according to my strategy and analysis, provides no answer to it. It depends on the market and surrounding global events. Even though I personally would like the mid-term trend (Hourly Chart) to resume, but it does not look like it. It made an H&S pattern in week 5, but the rise after the NFP on Friday in week 5 does not give me the comfort and confidence that it will continue its drop. If we look at the H1 chart, we can see a grouping of 5 small-bodied candles. If we go in deeper to M15, the 5 candles will show itself as a seemingly inverted U shape, which is considered a reversal pattern to me. If we look at the Day Chart of USDJPY, we can see that Friday ended strong with a bullish candle that undoes the week 5's effort of bearish move. It pointed slightly towards a strong bullish power, coupled with the long tail that occurs during the Flash Drop, it is hinting a strong market bull now. When we look at the Weekly Chart, we can notice that the opening price and closing price of week 5 are very near, which tells us that its consolidating and developing a possible range. So even though on H1, we see an H&S pattern, when combined with the D1 and W1 charts, it is not so rosy for bear after all. We can monitor what happens on the H1 chart for week 6, it can give an opportunity to enter long/short depending on the candlestick combination, however, it must be entered with a strong risk management plan. 2. How wide will the range be? My personal view on this would be between the high of the H&S pattern and low of the flash crash. The market has clearly moved into an upward sloping range bound, so depending on your method of analysis, you might say that a wedge or flag has been formed, but either way, with a strong risk management, no matter how wrong you are, it will not be detrimental to your trading account. Conclusion Even though my H1 analysis pointed me towards a bearish trend, I am cautious of it due to the rise on Friday and the overall view from D1 and W1 chart. I am going to watch what happens on week 6 to determine my next course of action. As I am a mid-term trader, trading against the D1 and W1's direction is ok for me, as I do not hold multi-week positions. If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
EURUSD, Strong rise in week 5, strong drop in week 6?EURUSD made a strong rise in week 5, it raised from Monday to Wednesday, and only to die down on Thursday after seeing a reversal pattern on the M15 chart and follow by a second confirmation on Friday during the NFP which completes the reversal pattern on the H1 chart. EURUSD completed its three levels of rise and ended week 6 with a complete bullish level 3 zone with a reversal price pattern, it points us towards a drop for week 6. When I look at the Day Chart of EURUSD, I found that Friday did not move much but has given an indication of an impending bearish trend. From the Weekly Chart of EURUSD, it seems a big price movement might be coming, even though I am unsure if it will happen in week 6 or not, but I will be waiting to short EURUSD. Most likely, on Monday I will be entering the market with short positions since the H1 analysis points us towards completion of level 3 bullish zone coupled with a reversal price pattern, the D1 chart suggested a week bull and W1 chart suggested an impending big price movement. That being said, stay flexible and open-minded and I hope all traders continue to make a good profit from the market. If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
2
GBPUSD, week 5 price pattern, a clear route for week 6GBPUSD has finally made a reversal pattern as we see on the H1 chart. It seems like the price has overextended for a while and finally, we see some hint that it would be moving down for the near future. In week 4, GBPUSD has made a small consolidation followed by a final push upwards which lead to the reversal price pattern. It then quickly break below reversal zone in one to two days and followed to close in a new bearish zone 1. It was noted that during the NFP, the price was not as volatile as people might think it is, and the price movement was very controlled, no surprises, no big movement. In the Daily Chart of the pair, it was noted that Friday ended with a bearish candle, and a short upward tail and the weekly chart showed a bearish candle with a small upward tail. The combination of a reversal price pattern at level 3, and the bearish candle observed at D1 and W1 candle gave the analysis a strong overview that a bearish week 6 is waiting. That being said, things can change, so stay open-minded and flexible in our trades. I hope all you traders continue to make good returns! If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi