justatrader

justatrader

NZDUSD has been in a steady uptrend after prices broke out from the falling wedge, since the past week. The rally now reaching the familiar resistance of 0.70, which has held out two times previously. Mind the stochastics showing a hidden bearish divergence . RBNZ June meeting is up later tonight and the CB is expected to hold rates steady at 2.25% (but could...

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Downside risks remain. Below 105.5, 104 will be the next clean target. BoJ officials talking down the Yen in early Asian session today. H4 closed in a doji with a bullish follow through. Yellen on tap later this evening. Above 107.665, 110.968. Current levels good to build longs, but watch for 104 downside risk. 116.5 - 116.0 is the level to watch to the upside.

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EURGBP completed a major leg of correction since last December (after the ECB failed to deliver) and has been rising steadily. The weekly chart on the left marks the hidden bearish divergence and indicates a move to the downside if we get a weekly close below 0.78. On the right, the daily chart shows prices being rejected by the median line with a bearish...

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GBPUSD is seeing strong resistance at 1.46 - 1.47 with multiple tests failing to break above this level, resulting in higher lows. A potential breakout higher above 1.46 - 1.47 could extend GBPUSD gains towards 1.51 marking a completion of the bullish divergence with the possible move to 1.54. Hidden bullish divergence shows the key support level of 1.4398 -...

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This is the chart, we (median line/divergence) group were studying in real time. By combining divergence, median line & support/resistance levels. The notes are on the chart. Today is the last day to join the group. (Will close registrations end of day) Sign up here for those interested: goo.gl

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Notes on chart. Reversal near 1.140 would see a possible move to the downside. It will still be an evolving H&S pattern, but 1.110 break could extend declines to 1.08 and 1.05. Time frame 3 - 5 weeks. Will FOMC be the trigger?? If it will be, then it would be a perfect confluence of Technical and Fundamentals.

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This is the Group description for the Median Line/Divergence based set ups. Please refer to the notes and the comments. To sign up for this group Enter your detail here: goo.gl

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This is the USDJPY updated chart ------------------------------------------------------ Where we are: Price has fallen steadily to reverse near 106 levels. (Refer to the attached previous chart set ups) Moderate uptrend should see a leg to 118 - 115 region before pulling back lower to 106 - 102 region Ideally, buy orders near 100 with an aim to hold for...

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Bullish divergence, but price could chop around a bit. Invalidated only on a close near/below 0.71486 - 0.7145. First target near 0.724 and the second near 0.7340

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Targeting 1269/1270. Entry on a close above 1247.5 and stops on a close below 1241.85. Price is at support!

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8-hr chart has the hidden divergence, while 4-hr is starting to build up a bullish divergence for 112.5 Watch how price reacts at 108 - 108.5 support ( Expecting a touch and go ). Also keep an eye on a possible higher low on the Stochs, compared to the 112.5 (lower) lows. Trade invalidated on a daily close below 108.0 with some bearish PA on the 8/4 hr charts. 8...

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Price is at support, retesting the descending wedge breakout. Look for a higher low at 123 for a move higher. Longs invalidated on a daily close below 121.72. For entry, timing will be crucial. Watch out how London and NY reacts. Best to add small positions and build up over the next 48 hours.

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Risky short set up building here near current levels of 126 in EURJPY. Likely dip to 124.5 - 124.0 levels. Due to the FOMC and more importantly BoJ tomorrow, best to stay on the sidelines for now. Should see some good price action from 124.5 - 124 towards 128. Good luck and trade safe.

justatrader Updated 

Left side chart is a 60 minute Gold chart, showing a potential move to 1245, extending gains to 1258/1260 levels on a possible break out off the falling wedge Right side chart shows a potential H&S pattern forming with neckline support at 1232 - 1228 which could see the right shoulder rally to 1258/1260 Shorting from these levels for 1232/1228 and 1200 makes for...

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Hidden divergence on 8h/bearish divergence on H1. 1.42 -> 1.378

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EURUSD looks increasingly bearish, but poses a risk of a move higher. The H&S is widely watched and no doubt 1.13 will see some good selling coming in . Risk is of a squeeze higher to 1.1368. (Personally, prefer to short at 1.140 but doubtful if price will rally that far). To the downside, 1.12337 - 1.1235 is a support to watch for. A break below could see...

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Consolidation within median line. Expect a lower high or a median line failure. Targets defined on chart. Invalid only on close above 7837. Watch daily candles near 0.7783 for further validation/confirmation.

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Following the UK's announcement accepting the deal and June 23rd being set for holding the referendum, the EURGBP has the makings of a perfect match of both fundamentals and technicals. Notes on chart on the technicals. Short term GBP positive should see a correction to the downside into ECB's March meeting. Going by recent (lack of dovish ) comments from Draghi...