Recently,We wrote multiple times that close below 1.1075 will be bearish bias for EUR/USD. This happened on 5th of Nov. But the closing price was 1.1074 so near/close
to the level we were watching carefully. BUT yesterday's confirmation candle which is also bearish hammer has cemented our bearish bias.
WE are not making a short entry because we have risk premium...
We never take trade on 4 hours charts developments. Current Bullish-Flag is visible on DAILY TIME FRAME chart also but 4-HOURS CHART shows more clarity.
We noted bearish signals on 1 Nov and wrote about it But didn't enter short. But Now, KING DOLLAR has taken the control back. ON 5th NOV a bullish signal on DAILY CHART. Bullish Flag also formed.
Both...
USDCAD seems to print another lower leg of already started bearish trend. Recent big candle of 30 Oct, when BOC mentioned the further
monitory stimulus for the economy. Follow through seems absent there. Inversely sellers get the control after NFP release. From analytical point of few
we see more parameters in-side of bearish bias than that of bullish.
Out Last...
1- Bearish Hammer @ supp turned resistance level PLUS a big follow through candle.
2- Investor seems cautious before the Non-farm payrolls.
3- Would bank of Japan like current gains by YEN.
4-Possible entry point and reasons of it are highlighted in yellow rectangles.
Yen looks promising to start gaining once again, although Bank of Japan wouldn't like it. As...
We are not taking serious to this so-called bearish signal Hammer/Pin-bar, Although its position is quite impressing as it appeared right @ former supp turned resistance level. Such Levels are usually
respected widely in financial markets. But there are couple of reason we are not paying much attention to this bearish signal.
1- Double bottom's neck-line or base...
WTI CRUDE trading above $50 bbl/d through out 2019. Saudi Aramco attack pushed prices almost 10% high in single day, BUT gains erased as supply-cut was fixed sooner than market expects.
OPEC production cut vows just could support the price from falling further. Trading Range is between $50-60 bbl/d. Global growth is slow and so is oil demand which is main reason...
Gold's 2 months consolidation seems over. Initial shelf support is @ 1.1481 and next horizontal weak resistance is around 1.1536.
Triangle patterns are usually the continuation patterns. Fundamentally, Gold seems in favor of uptrend keeping in view the US-Dollar weakness.
EURUSD got bid as expected from trend-line support on 30 October. Doji candle of yesterday signals continuation of current up-trend.
We expect next consolidation above 1.1200. Our Long position targets 1.1305.
UK elections pending royal assent, to be held on 12 December few days before Christmas and first time in December since 1923.
Sterling went sharply higher to celebrate BR-EXIT in national fervor. But now in stalemate after parliament rejected current EU-UK deal. Boris Johnson did well in his short leadership tenure to get the deal and his own party leaders...
FED chairperson Jerome Powell said in his press conference that "A considerable inflation is needed to hike rates again."
One of the most important and unavoidable judgment every trader must made every day is , "WHAT AN INVESTOR IS THINKING". One of many tools available to gauge that is SPX500.
Its direction, momentum, highs and lows narrates the real story...
THERE MUST BE A METHOD BEHIND YOUR MADNESS.
As we wrote yesterday & on Oct 25, that EURUSD consolidation above 1.1075 could provide a BUYING opportunity.
We were desperate to take the position. We entered LONG yesterday, After very deliberate analysis, 29 Oct close cemented the idea of taking the LONG side.
Generally, One might think this idea very risky...
We sold USDCAD on 16 Oct after trend-line break and confirmation candle. Position was closed in 1:2 ratio in anticipation of a choppy trade in bottom and major events
ahead (FOMC, BOC) for the pair which have potential to overturn the direction of the pair.
Technically, Yesterday's bullish engulfing candle looks promising to BUY. But 20 DMA has crossed the 100...
One of the best and our favorite pair to trade Aussie/Dollar is trying to find support @ 100 days moving average. We love to trade Aussie/Dollar because it behaves very consistent with respect to fundamentals developments.
Furthermore this pair is used to gauge different aspects( like risk-on/off) of market along with other indicators. After Euro, Aussie bears...
We were looking to sell the EURUSD if pair close below the 1.1075 as we wirte earlier. But in last couple of days market is paying respect to 1.1075 support.
Pair may bounce up from here. If 1.1075 support remain intact a short term bullish bias is in cards. Inversely, close below 1.1075 will open door for SHORT position once again.
Usually, we look for maximum 2 good set-up(Trades) in a month in either direction. Bearing risk mitigation @ 360 degree, 2 Trades/month are good enough to increase you account by 40%-50% annually.
But some times majors behaves quite differently and more setups are developed. NZDUSD's friday close is signaling deeper losses for the pair. Possible Headwinds could...
We are closing our remaining 50% USDCAD position, which we left open on 22 Oct to take advantage of further move.
WHY? ..... DON'T LET YOURS WINNER TURN TO LOSERS.
Technically, With respect to reading chines candle stick. We got a doji candle yesterday, Today, an inside close candle. Usually the doji indicates just a respite in free falling price action, like we...
Being trend trader we gauge both the strength and direction of a trend using different unorthodox methods. Remember What a veteran like Warren Buffet has advised.
"Think what others are not thinking".
100 DMA, Oh yes!!! very powerful tool to analyse a pair's direction. But...
Traders @ VanguardFXTradeDesk have HIT the initial break-even target today morning. Cheers for consistent profits. Don't clutter your charts, keep them as simple as personal portraits.
Trend trading the most simplest and perfect trading tool. But to get the full advantage of trend-trading; you need extra bit of experience and skills to foresee the trend...
