WLGoodman

WLGoodman

The DXY has trended down for a long while. It broke out of the downtrend and then retested the breakout line, then clearly reacted to it to the upside. Discounting todays reaction to news and perhaps tomorrows ECB news, I think it is beginning a new uptrend that will continue into the new year. I really can’t see why everyone is saying the EURUSD is going up in...

WLGoodman

USDJPY has completed it's retracement on the Monthly Chart and formed a continuation pattern that is closing in on the breakout point. If I were deep into a short position, I would consider tabling some profits or cutting my losses. I have begun looking at the lower timeframes to find a good entry point and I believe that I will begin accumulating my position at a...

WLGoodman Updated 

Price is riding the trend line from my earlier chart on the Daily Timeframe, but has not closed below it . Here, the 30 minute chart shows a triangle formation. The breakout of which , I believe will be the moment of truth for this pair. As I am writing it appears to be breaking to the upside, supporting the idea of a long trade entry here. I am long from 113.10 ,...

WLGoodman

So far price has broken above the long term trend line and tested it once. It has returned to the trend line and will either respect it or fall through it. If it respects it I am long for a run up to the next long term resistance around 115.50, I believe. If it falls through the resistance and breaks the trendline, continuing it's down trend from before then I...

WLGoodman Updated 

Comments on the Chart

WLGoodman Updated 

I am a new Forex trader, I have spent many years in the stock market and have been studying and doing demos for years. I do not need to buy a 'system' or 'indicator' thanks. That being said , advice is welcome as is criticism if well intended. I do not give investment advice, I am not a professional. Trade at your own risk. I am already fully retired and this is...