ChaosTrader63

ChaosTrader63

Price is finding resistance at the Kijun-Sen on this 4 hour time frame at the moment and within the thick Kumo cloud. With the Kijun flat-lining this is an indication that the medium term momentum is weakening although the short term momentum from the Tenkan-Sen is still slightly upwards. If price can not break this resistance of the Kijun expect price to re-test...

ChaosTrader63

The EUR vs USD is facing major uphill resistance at key levels. Currently the market is sitting right below the Weekly Pivot @ 1.28885. This level will be a level of resistance in the short term future in order to see more upside. The R-1 level sits @ 1.29795 which is near the psychological S&R level of 1.30000. This level has been a key S&R level in the past for...

ChaosTrader63

Following the trade that I showed and entered on the EUR vs CAD you can see that the first profit target has been hit and I rode the move down past that point for a 150 pip profit. I exited the trade after the pair moved upward on the Canadian Housing report news this morning. My bias is still to the down side and looking at a daily chart you will also see price...

ChaosTrader63

The EUR vs CAD trade that I introduced has hit it's first target with a profit of 95 pips. We took the trade off of a Kumo resistance bounce when price retraced back up and hit the bottom of the Kumo which is a resistance level while price is below. I am expecting this pair to either consolidate or retrace but ideally I would like to see the pair break this first...

ChaosTrader63

Looking at this chart of Constant Contact (CTCT) we can se some encouraging reasons to take a chance on a long trade with CTCT and expose ourselves minimally. You can see where CTCT had a recent gap up in the market which put it over the 100 period SMA and to this point it has stayed above that level. I have entered this market after CTCT gapped up and pulled...

ChaosTrader63

Looking at the EUR vs USD on the Daily time-frame we can see where price has attempted 3 times to break the resistance of the Kumo cloud and has so far to this point failed. What makes me believe that it is ready to break that resistance now? Not much! From the swing high @ 1.37000 to the swing low @ 1.27709 I have drawn the Fibs and the resistance of the Kumo...

ChaosTrader63

Looking at the EUR vs CAD using the Ichimoku system we can see that price has bounced off of the bottom of the Kumo Cloud. The bottom of the cloud is resistance at the 1.32380 mark. Also we have Fib levels drawn in and the 50% retracement level is in confluence with the bottom of the cloud giving us even more reason to believe the resistance level will hold. The...

ChaosTrader63

Looking at the chart of the EUR vs USD we can see an ascending triangle pattern has developed where the magenta colored triangle is drawn. Ascending triangle patterns are usually bullish continuation patterns with the market making higher lows but same level highs. This formation is like compressing the market at which point the market must eventually bust out of...