Andy_Garcia_CMT_CFTe

Andy_Garcia_CMT_CFTe

Shown in this example is the Monthly timeframe of the NZDJPY where we are currently sitting at the potential formation of a right shoulder in a reverse head and shoulders pattern. At the moment this market is showing respect for the low that was established at the left shoulder right around the 73.11 level. The ability for this market to stay above the left...

02:27

Andy_Garcia_CMT_CFTe

USDJPY Multiple Time Frame Analysis showing weekly chart (top left), daily chart (top right), 240 min (bottom left), 60 min (bottom right). At the moment finding support around 105 with a falling wedge developing on the daily chart. Looking for upside as the wedge formation completes and price works its way back above the short term moving averages. Notice that...

Andy_Garcia_CMT_CFTe Updated 

GBPJPY has been in an up trend channel for a while and all the while the indicators have not confirmed the move. As you will notice the MACD and the RSI have been making lower highs while the price action has been rising. This is the definition of divergence or non-confirmation which suggests that the rally will soon come to an end. A lot of times knowing when...

Andy_Garcia_CMT_CFTe

A simple look at the daily chart shows a trend line that can be drawn from the previous lows and touches the current low in the Yen. It is a make or break level which if held could set up for a move back to the 1.10 level and possibly above. If the level does not hold then another strong push can be expected which would reach down toward the 1.05 level. It's...

Andy_Garcia_CMT_CFTe

Take a look at the daily chart and you can see the head and shoulders pattern developing. At the moment the right shoulder is just being formed, but the swing high is complete at the right shoulder suggesting more downside. You can see that the recent high coincides with the high established where the left shoulder is. This is an aggressive entry. Most will...

Andy_Garcia_CMT_CFTe

The chart provided is a study in the simple use of trend lines to determine if the trend line established on this weekly chart in GBPUSD suggests that there is more downside eminent in the 'Cable'. As long as the trend line can hold price beneath the trend line the shorting opportunities are to be taken and long opportunities should be ignored. Your stop loss...

Andy_Garcia_CMT_CFTe

Watching the GBPUSD for a short trade at a key fibonacci level on the daily chart. Keep your lower timeframes alert for a short trigger which will confirm the move that will ensue. Lower prices for the pound as long as it stays below the 78.6% fib level

Andy_Garcia_CMT_CFTe

Here you have the Swiss Franc setting up for another push higher. After breaking the long term down trend line it appears as if it is ready to break above the short term down trend line. The safe trade is to enter the long position once the short term down trend line is broken with a stop below the low established at the 50% fib level that coincides with the...

Andy_Garcia_CMT_CFTe

Watching for a new move back up toward 1.30 as USDCAD is showing some support at this trend line

Andy_Garcia_CMT_CFTe

Watching the weekly chart as the successful test of this trend line may provide a great buying opportunity.

Andy_Garcia_CMT_CFTe

Keep an eye on the EURGBP daily chart as there was an important rejection from the 50% fib level that suggests more downside if the market can hold below that level. This presents the possibility of breaking below the previous low at 0.8738 and then moving much lower from there.

Andy_Garcia_CMT_CFTe

Looking for the Euro to form a right shoulder in an intermediate term reversal formation where as long as the high can hold then it sets up for a move toward the 1.10 level

Andy_Garcia_CMT_CFTe

Watching the dollar to form the right shoulder of the reverse head and shoulders. Assuming that the low for the intermediate term has been formed, then this suggests that we are in a prime buying opportunity to test the long side for the dollar.

Andy_Garcia_CMT_CFTe Updated 

THE BIG PICTURE: The recent low established at the beginning of January 2017 provides an important indication that the down move is finding exhaustion. After a considerable amount of time the euro has reached a point of important interest. A long term low appears to be forming with a bear trap on the quarterly chart. Notice that the segment from A to B can be...

Andy_Garcia_CMT_CFTe

Taking a look at the USDJPY daily chart you can see that the cycle suggests that the yen is at a buying point. Notice that when you pull up your cycle tool that you can measure the previous cycle and that it is about time to start looking for long setups with a target of the previous highs.

Andy_Garcia_CMT_CFTe

Watching the Kiwi to see if the 50% fib level can hold. If this level can provide a decent amount of resistance then I'm looking for price to move back down toward the long term moving averages

Andy_Garcia_CMT_CFTe

I'm noticing the 200sma on the daily chart providing a level of resistance for the NZDUSD. Watch for short setups as long as price can hold beneath the moving average.

Andy_Garcia_CMT_CFTe

Watching the swiss franc for a bounce off a symmetrical low that was put in last week. My trigger is an entry after the break of the previous week's high and a stop beneath the low. The expectation is to run up to another fib level in a 61.8% level from a recent down move.