leeweechong

leeweechong

EURGBP at overbought territory and reaching top of range. Wait for price action as sell signal should appear soon.

leeweechong Updated 

Risks of war dissipating (it was overblown in the first place) and Trump impeachment unlikely. Technical wise, gold price will be capped as seen with the sharp turn around 1265. Watch for PA, and short from 1257 for a target of 1224 and beyond.

leeweechong Updated 

USDSGD is disappointing but I light is at the end of the tunnel for those who USDSGD bias. This is why I'm still bullish with USDSGD. To complete the formation, the handle will curve up to the previous high of 1.45 Let's be patient and wait for the signal.

leeweechong Updated 

EU is near the top of its range between 1.05 and 1.14. It closed strong on Friday so we can expect a little more upside towards 1.13 and maybe beyond. However, the larger trend for EU is still bearish in nature. Thus, traders are advised to be careful as it approaches its peak. Let's watch to see if it breaks up or makes it way back down to continue its bearish trend.

leeweechong

EURCAD has completed trend line break out, retest and is on its leg up. On a broader view, it is mid-way through its monthly chart range. Zooming in, EURCAD has two patterns - Cup and Elliot Wave formation. I expect EURCAD to move higher, in tandem with higher EU, and then make a deep corrective move down. My belief is that fundamental challenges in Europe are not...

leeweechong

The recent moves has been impulsive (even illogical to many) but we trade what the market gives us. Gold in a new uptrend but still capped by earlier trend line. Short term, for those who are holding long from my previous idea. Continue to hold till 1280.

leeweechong Updated 

1. Moving along newly set bullish trend line. 2. Upper channel coincide with 382 retrace and point (c) of bullish butterfly 3. Continuation of making a flag along upper trend line. 4. Point (d) of butterfly will coincide with TP target of previous idea This is a short term trade up, then down, then up again if butterfly pattern is formed. Otherwise, bias for...

leeweechong Updated 

UCAD completes wave 3 and will retrace to 382 before making the final wave 5. Watch for 382 pull back and long UCAD for the final wave if you are not already in this long trade

leeweechong Updated 

AU double top on 1 hr, either short at neckline or wait for 2618.

leeweechong Updated 

4hr Libra formed on EURCAD

leeweechong Updated 

XAG ranging but overall trend remains bullish. 20, 30 and 50D EMC heads ups while Stoch show likely downtrend. Go long if XAG breaks out from range above 18.23-18.25.

leeweechong Updated 

USD JPY forms double bottom on 1 hr chart

leeweechong Updated 

Gold broke upper channel, retest and failed. It moves down back into channel and broke the channel floor. I expect gold to continue to drop to 1198 and will look for re-entry to pick up from previous Gold short idea.

leeweechong Updated 

Silver is at the supply zone and 786 retracement or previous rise. It could do one of two things, move upwards towards $17 or continue to test $15.9 before moving upwards.

leeweechong Updated 

GU broke out of range and moving up in a rising wedge. Original target for short was 1.30 but it's too close to current price and may gap up over French election weekend. Watch for 1.33 where it will reach 0.5 retracement of the larger drop and top of downward channel.

leeweechong Updated 

USDSGD forming reverse head and shoulder (libra) on the 1hr chart

leeweechong Updated 

EU retrace to 618. Possible ABCD.

leeweechong Updated 

USDCAD is bullish in longer trend and price is currently in the buy zone. Watch for price action.