Uncharted-FX

Uncharted-FX

The US S&P500 broke and closed below a major support/flip zone level. It also coincided with a break below the recent higher low. Market was expecting a more dovish Federal Reserve...and uncertainty over President Trump's China Tariffs. I find this highly suspect that the President announced tariffs the day after the rate decision. If you follow my work, you...

Uncharted-FX

Bitcoin has broken above its head and shoulders pattern and with a good break. Will there be more upside? I believe we are on the doors of this large move. However it really isn't to do with US Dollar weakness...it is all to do with CHINA! I mentioned in a previous post why this is the chart you need to be watching! As you can see, we are about to break into...

Uncharted-FX

If you follow my work, you know that I am very bullish on Gold (and Silver) and Bitcoin will also initially be doing well. As a student of the markets, history and economics, I approach everything through the lens of classical economics as opposed to mercantile economics, today called Keynesian economics. Classical economics is about hard money and low taxes,...

Uncharted-FX

If you follow my work, you know that I am very bullish on Gold (and Silver) and Bitcoin will also initially be doing well. As a student of the markets, history and economics, I approach everything through the lens of classical economics as opposed to mercantile economics, today called Keynesian economics. Classical economics is about hard money and low taxes,...

Uncharted-FX

Bitcoin is holding an important support/flip zone at around the 9000 zone. We still have lower highs and lower lows, but a break above this 10089 zone would nullify the recent lower high swing. Ideally, would look for a higher low to confirm the beginning of a new uptrend. This can occur here which would coincide with a head and shoulders pattern giving us more...

Uncharted-FX

EURCHF had a nice pop and the strength could not continue higher. We began to range and created a double top at a former resistance level. I like the support break at 1.1028. Potential for the Franc to gain as well given this market environment heading to the Fed cut.

Uncharted-FX

Not a textbook head and shoulders, but this is real life. What the head and shoulders tells us is a shift from one trend to another, we see this with the swings. The German Dax had a break below a support/flip zone as other equity indices also sell off. This is a nice and strong break, but again, perhaps await for the Federal Reserve to speak before entering....

Uncharted-FX

Oil showed a nice downtrend displaying lower highs and lower lows, and when we hit the 55.50 zone, we began to base. You can say we did make a range/bottoming pattern. It shows us the trend exhausted. After breaking above the lower high swing at 56.80, there was a chance we could see an uptrend (or range). I like the bottoming pattern we do have here on the 4...

Uncharted-FX

Euro Stoxx Index is also showing signs similar to my CAC40 idea (link below). Again, be wary with the Fed tomorrow. Cutting rates, and future rate cuts, means that there will be nowhere to go for yield other than the stock market. Central banks are attempting to keep stocks propped. This is their new mandate: to keep assets propped. You can see a some what of a...

Uncharted-FX

EURUSD is showing a clear head and shoulders pattern on the 2 hour chart, and you can see one some what on the 4 hour. Remember, all the head and shoulders shows/tells us is a shift in trends. From lower highs, to higher lows. I am liking what I am seeing, all though, would like to see a break and close above the 1.1157-60 zone. On the 2 hour you can see the...

Uncharted-FX

Not the textbook example of a head and shoulders pattern on the Hang Seng, but nonetheless showing us a transition from higher lows (uptrend) to now lower highs (downtrend). I wouldn't really want to trade equities given world equity markets are remaining poised for the Federal Reserve rate decision...but I do like the break, and if we can confirm the retest here...

Uncharted-FX

Similar things can be said that I have said for EURJPY that I just posted. We held the 82.20 support zone, and now broke the neckline of the head and shoulders at 82.70. I would await to see how this next candle closes to see if we hole the neckline. Again, given the type of week we have I would be a bit more careful trading the Yen Pairs. First target zone...

Uncharted-FX

First of all, I want to preface that you should be careful given the Fed rate decision coming up on Wednesday. However, EURJPY is looking tempting here. We have created a head and shoulders pattern, with a confirmed higher low with the strong break and close above the 121.17 zone. The 121.80 zone is what I would target, but again, do be careful given the type of...

Uncharted-FX

Silver had a big move breaking out of a long term wedge pattern. From there, we blew past the 15.60 zone and the 16.20 zone. Now it is about seeing if we can hold the 16.20 zone. We have yet to make a higher low swing in this move, so I expect a pullback to form this. The 17.40-50 zone can be considered our next target. I believe Precious Metals are getting a...

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Seems like we have an inverse cup and handle here on AUDCHF. Await the break and close below the 0.6860 zone before entering. It seems like we have our first lower high at 0.6890, but remember, this requires a lower low which means a break below the 0.6860 zone. 0.6800 can be considered a take profit zone. Overall looks good.

Uncharted-FX

AUDJPY did create a topping pattern at resistance. We then broke below a support level on Friday with a very strong red candle indicating the strength of the break. Unfortunately this happened on a Friday. We will look for follow through for the upcoming week. Will await either a retest of support now turned resistance, or look for a lower high to be...

Uncharted-FX

USDCAD had our break last week. You can see this zone even on the daily chart, but I like the 4 hour because you can clearly see the transition of trends, from a downtrend to now an uptrend. We may come back to retest the 1.3150 zone, which is normal for a breakout. Two entry ideas: Either get in on the retest if it produces a good candle signal (engulfing). Or...

Uncharted-FX

USDJPY in a downtrend with well defined lower highs and lower lows. We then began to show signs of the trend exhausting at the 107.00 zone, even seeming to create a double bottom here (not an ideal textbook example). Would wait to see a break above the 108.95 zone before entering, or if we see another higher low very close to the resistance zone. Target would...