ScottMescudiForex

ScottMescudiForex Updated 

Hey traders! (This analysis was already shared with students) EURUSD was the first one to move down last week before every other pair followed suit. It had a considerable lead vs other majors. Now it had retraced back to 0.38 FIB extension before resuming its downtrend. It looks like it is building a new downtrend channel as showed here in my chart. MACD...

ScottMescudiForex Updated 

Hi traders, (This trade was suggested to students yesterday 2017-10-19) This is by far the most simplest technical trade of the recent weeks... This means that there isn't much to say that you cannot see on this chart. MACD FAKE OUT RSI MIXED SIGNAL ORDER BLOCK EUR FAKE RALLY Here's what I'm suggesting : EURGBP SHORT: ENTRY : 0.89898 SL :...

ScottMescudiForex Updated 

Hey traders! NZDUSD pulled off a classic retracement while pretending to run on fake bull legs! All other pairs seem to concur on this one. NZDUSD though is nicely placed and the RR is very nice... So I will be starting with this one Here's what I'm thinking : NZDUSD SHORT ENTRY : 0.7187 SL : 0.72533 TP : 0.69908 Trade safe! Disclaimer: This is my...

ScottMescudiForex Updated 

Hi traders! (This trade was already shared with students) I needed confirmation of the down move before going into this trade. Now that gold clearly broke support and close under it is what we needed. USDJPY also showed us the way! We will have a classic retracement of the up move with gold going for those FIB extension Here is what I'm thinking : XAUUSD...

ScottMescudiForex Updated 

Hi traders, Just like NZDUSD, here we have UJ faking everyone out this week. No short term bear run! MACD faked & RSI too! Gold reversed, confirming UJ moves up. Here's what I'm thinking : USDJPY LONG: ENTRY : 112.19 SL : 111.411 TP : 114.343 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.

ScottMescudiForex

Hi traders! EURUSD is kind of stuck. Other pairs have moved nicely vs the USD but EUR is doing its thing right now. It wicked both ways and it is still hanging in that order block I drew from the last analysis. I see a lot of upside since EUR since to be the last one left. DXY topped MACD crossing on the daily timeframe RSI positive still Bounced off 0.5...

ScottMescudiForex Updated 

Hi traders! Here we have the USDJPY yet again! This looks to tempting to not try again! That wick that caught us off guard last Friday is now out of the way. A pretty bold MM move happened and now we are witnessing a change of trend across all major pairs. UJ hasn't moved as much as gold did which would indicate a bigger potential for that juicy drop MACD...

ScottMescudiForex Updated 

Hi traders, (This trade was already suggested to students) Here is a very simple analysis! PA touched the resistance turned support. A weekly one that is!! MACD is getting that nice divergence RSI reversal FOMC news dropped confirming trend For all those reasons.. Here's what I see: NZDUSD LONG: ENTRY : 0.7076 SL : 0.70197 TP : 0.72889 Trade...

ScottMescudiForex Updated 

Hi traders, Here we have a nice MM move with that daily wick after NFP happened. I always try to keep a close eye on this type of movement as it changes trends. This makes this entry a very nice RR trade. MACD divergence MM daily wick Heavy support at current price level Here's what I think : XAUUSD LONG: ENTRY : 1273.87 SL : 1259.93 TP : 1315.70 Trade...

ScottMescudiForex Updated 

Hi traders! (This analysis was already shared with current students last Friday) GU dropped quite a lot since that super strong bullish breakout. It is all normal behaviour since this run didn't have no real corrections, no real breathers, no nothing! Also, this happened along with the other majors pairs that got pounded vs USD. Now that the DXY somehow...

ScottMescudiForex

Hi traders! Here we have the DXY chart. It has been ranging in this wedge since the start of the 2000's. This charts feature the USD while it was affected by the DOT COM boom and the housing crisis of 2007-2008. You can clearly see the highs and the lows of all this timeframe. USD went through QE 1, 2, 3 + Operation Twist with the one and only Ben Bernanke at...

ScottMescudiForex Updated 

Hi traders! This trade got me thinking as it goes against few of my basic trading techniques. However, with the great week we already had (360 pips banked) I think it's worth the risk. This trade represents a great RR. What is nice about this trade: Resistance is holding it down each time MACD Daily is about to cross Bounced off the trend line All other...

ScottMescudiForex Updated 

Hi traders! Let's keep this one short. EURUSD finally topped @ 1.20 this bullish run. Some correction is clearly due. What are we seeing right now? SYMMETRICAL WEDGE BROKE DOWN UPTREND CHANNEL BROKE DOWN MACD CROSSING ON THE WEEKLY DXY FINALLY BREAKING RESISTANCE For these reasons, here's what I suggest: EURUSD SHORT: ENTRY : 1.1807 SL : 1.18964 TP 1 :...

ScottMescudiForex Updated 

Hi traders! I posted the chart yesterday but didn't fully post my analysis here. As I mentionned, gold broke his uptrend channel again. DXY making still pushing upwards. I leave my chart to do the rest of the talking. We are already in this trade like, here's what I suggested : XAUUSD SHORT: ENTRY : 1301 SL : 1308 TP : 1274 Trade safe! Disclaimer: This is my...

ScottMescudiForex Updated 

Hi traders, Our dear friend NZDUSD is now in our sight. This pair was in an uptrend for some time before breaking it to the downside. As you can clearly see the price went back to touch the bottom of the previous trend line before falling down yet again. The price is now battling in that order block. Since the bias is bearish at the moment, we waited for a...

ScottMescudiForex Updated 

Hi traders! AUDUSD seems to just pattern itself out each time. We see again the same bottom that it made last time before firing up to +0.80 Clear divergence on daily MACD Buyers found in this zone making multiple wicks DXY finally top (resuming its downtrend) Playing off those FIB extension perfectly Here is my suggestion: AUDUSD LONG: ENTRY :...

ScottMescudiForex Updated 

Hi traders, Nothing much to say here. EU topping on that .618 FIB FOMC tomorrow so anything won't really move PA currently out of the wedge but will go back (either test the upper band or go back in it) Trade safe!

ScottMescudiForex Updated 

Hi traders, If you been following me you saw the call I made before the FOMC news dropped. We are already off in profit but I still will put up the analysis. We still need a break of the red line in the chart. If you look at the WEEKLY timeframe, a very nice bearish wick is now there and the MACD is about to go HAM on us. SL is already in profit Here was my...