USDCAD 4HPrice currently testing a supply zone, now watching for a break & retest for entry for longs up to 1.26000
Break
GBPCHF 4HPrice could see a potential bounce from the zone its at, but I will be watching for a 4 hour break of 1.31400 support & retest for potential shorts on this pair. (On the watchlist)
USDJPY 4HWatching this pair closely this week as the dollar is looking bullish again.. NFP went great showing growth in the US economy, plus the technicals are showing the same.. Will be watching for a reversal pattern to the fib regions & a potential further pullback is possible. Weekly inside bar reversal pattern to 108.400 confirmed, so this pair will climb higher!
EURNZD DAILYInverse head on shoulders neckline broken, now watching for a retest to broken resistance turning support to jump in this pair..
NZDUSD 4HDouble top pattern played out well, now broke below support. Watching for price when retesting this zone for potential entry
CHFJPY DailyDouble top to Weekly resistance / shooting star rejection. Will be watching for a break of my higher time frame counter trend line for entry..
BTCUSD DAILYMaking its 3rd touch to the ascending trendline, rejecting off the 200 ema. A daily closure is preferred first before entering if price closes above the trendline or not. If the trendline breaks the next level of interest is around 6K
USDJPY 4HPrice broke its triangle pattern to the upside, now testing channel resistance. Price broke above its supply zone 109.400, lets see if price can break to the upside from here!
GBPJPY 2HPrice rejecting weekly resistance, however I will be watching for a break & close above or a break of the trendline for a pullback ...
GBPCHF DAILYStrong bearish engulfing breakout of prices uptrend line, now retesting with what looks to be a potential shooting star rejection. Not looking to jump into this pair this week exactly since the market closes tomorrow, but will be looking for a break of support & retest for more confirmation
AUDNZD 2Hafter a 200 pip decline, price is now back at daily support. From here its possible price can see a bounce back to the upside. Will be watching for a daily closure
SPX: Flashing cautionary signals (again).My cautious call of 2 weeks ago may have been premature (see link below).
However, we are now seeing additional cautionary signals on the SPX :
1. Two consecutive down days at the beginning of this week;
2. Visible break yesterday on the index (gap down);
3. Reasonable volume on the downside;
4. Traded and closed below SMA10;
5. Tech indicators turning (MACD, RSI, Stock);
6. RSI coming from very overbought levels >85;
7. Treasury yields picking up;
8. Some divergence/topping signs from tech market leaders;
9. High-volume surge in the VIX (please see chart below);
10. VIX broke/closed above two resistance levels in a day.
Current earnings should bring further steam to this market, either for a highly-expected consolidation or for a rebound.
In this context, am warming up to buying downside exposure in one -or multiple- of the following ways:
1. Reducing portfolio risk by taking selective profits/losses;
2. Buying puts on selected stocks ahead of earnings;
3. Shorting the market outright (SPY, QQQ);
4. Buying volatility outright (VXX).
The rest of this week should be interesting and followed closely.
EURCHF 4HLooks like price made a double bottom to daily support, now watching for a break of the counter trendline as confirmation for potential longs..
AUDCHF 2HPrice making a double top at strong previous support now resistance. Watching for a break of the counter trendline to go short. Last time was above the pink zone, price made a double bottom then made a strong move away from this zone. Vise versa of what price is looking to do now..
CHFJPY 2HTarget this morning missed take profit by 17 pips, but as you can see price broke above resistance now looking to potentially enter on the retest of broken resistance now support.
Eurjpy 2hManaged to grab 160 pips roughly on this pair this week, now watching for a break of the top of consolidation for a potential 200 pip move to create a new high. Will be watching for a break & retest. A daily closure above 136 will be great confirmation as well
AUDUSD fallingI see AUDUSD falling from the sky.
Lets keep an eye out for this one.
As usual very tight stop loss not risking more than 2% with a 30 pip stop loss
AUDUSD 2HFOMC meeting for the dollar shortly, watching for a break to enter price is showing pressure to weekly resistance
