Corrections
NZD/CHF NZD/CHF croke out of channel. There is the possibility that it is making an "A" wave leading diagonal, which would then correct upwards further correcting a 5 wave, or it could be making a wave 4 correction to go down. Considering how close to the low it came and the corrective price action it made, I feel like it will break it. I will update you if I happen to see a nice entry point in near future. Just keep in mind it is late in the week and this is a chiffy pair, best entry would be to see it start pulling back on 1 to 4hr making some correction and placing a sell stop below. At present moment it is in a downtrend, but be careful and safe. If you took my trades yesterday you are up more than enough pips and don't have to take any unnecessary risks.
USD/NOKIUNOKE came off fork. Dollar strength everywhere, but you gotta be careful. I'm in this stop in profit at this point. This pattern has the potential to form a 7 swing type structure which would bring back up to around the high then drop it back down. It could actually do some different things... This leg could extend down also, so you gotta know how to enter and exit stuff. I'll try to go over it in my weekly video a little more in depth.
NZDJPY possible sell setup for laterNZDJPY appears to be making a combo pattern.... It can make one more up within this pattern to top of fork, however 4 hr and daily are TDI turned down. It may just correct down from here. you had a small possible sell setup, but NZD news this afternoon, so I would wait and see if it provides any opportunity
EUR/AUD buyI am not interested in selling EA again yet. Called the sell at the top, and the buy from the bottom BTW, just not in here. I expect some further correction up. I removed all my trend fibs and simplified for clearer chart. I see more downside but expect another leg up before any bearish continuation. I feel like the current pennant that it is in on 1 hr is incomplete. A small move down and rejection from the zone below (see black ray line) would measure exactly equal to first leg of current correction and put price at .618 retrace of choppy, corrective, truncated diagonal down (at least how it looks now). Which would make perfect sense to me. That level would also be the 1.236 fib extension down from smaller corrective pattern as I have analyzed it. It's possible it could produce a nice setup that keeps going down but I doubt it without another push up. I want the buy for now. If dollar is bullish, considering Gold prices, Aud will drop harder than Euro, thus making even more sense for the EA near term buy. Then I want the sell, but I'm looking later on for that. Watch the video. I will try and update my other posts sometime before market open. Soon I will have my company and screen space up and going and will provide more timely entry points because it is all about that price action baby, but for now, these types of posts is all I can do.
AUD/JPY sellAJ appears to want to make a further correction here. Considering wave 2 was so simple, makes sense. I don't just enter trades and hope for the best, I trade of pattern and price action, that's why you see no SL and TP. Plus it's Sunday and US government shut down makes me cautious to trade any pair and I will be looking more toward Tuesday to Wednesday for entries. This already produced a small sell setup, may make some more.
Two Possibilities for AUDCAD on the Weekly ChartWatch for one these two possibilities to unfold as we transition into the 2018 trading year.
Big Move Coming for GBPAUDI am watching for a short trade coming on GBPAUD. From the top it seems we have received a nice reaction to the top trendline of the pattern. Watch it closely.
Short on GoldHere price is forming a continuation pattern. If we see a strong break to the downside look for sell positions.
Long Idea on EURCADHere is the bigger picture for EURCAD. Wait for another leg down in the descending channel and look for opportunities to go long.
NZDCAD Weekly: Bullish BiasPrice has found itself at the bottom of the bigger pattern and I am expecting a breakup out of the falling wedge. Look to go long soon. Good luck
Long on EURUSDPrice has broken out of the descending channel so look to buy at the bottom of the continuation pattern to continue long with price.
Short on GBPNZDPrice is near the top of the ascending channel. Watch for short positions to join the big move down.
USDCAD Daily OutlookHere on USDCAD price is currently rising. I am expecting a break up to continue the trend. Once price has reached the top of our bigger pattern I will look to take shorts.
GBPCAD Pattern TradeHere we are close to the bottom of the pattern, if price does not break the bottom look to take long positions.
Possible Flat Channel Forming on EURGBPThere is a possible flat channel forming here on EURGBP. To be sure, watch the bottom of the channel for a valid bounce before placing any trades.
