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Mayfairmoney

GBPJPY - Wyckoff concept?Not looked at Wyckoff concept for a while but watched a video the other day and found something similar after distribution. These guys were using an average level from accumulation/distribution. So with it being Christmas, I thought I would look into it again. This looks like it is setting up for a drop - we could indeed be in phase C of the concept. I would be keen to speak to others who trade Wyckoff and welcome comments and feedback below. It would make overall sense for a weaker Pound - Although Brexit had a deal, there's a long way to go and I am not sure how good the deal truly is. We then have Covid - 21 to contend with. Which is likely to cause the UK more issues than most. Daily Elliott is in an uptrend but looks like we have tagged the 3 wave extension - meaning it's due a pullback which could be this short here on the smaller Timeframes. Happy New Year to you all. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
Gold- XAU SafetyGold has a potential pullback to go long. (ignore the 0-5 levels) more the idea in general terms. The DXY requires a pullback this lines up with some Delta turning points. With Bitcoin, SPX and Gold rising as the DXY drops. The Correlation makes this an obvious next step. Just a question of when. If you look at the monthly chart (below) You will see the trend of the stochastic is down - additional confirmation of a pullback. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FX:XAUUSDLong
by Mayfair_Ventures
NZDUSD - follow up Check out the link in the related section, Done exactly as planned. Now it's slowed down, into the zone. Waiting on confirmation short. It could pop up a little more but bias is short still. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
DXY, Bitcoin, SPX (S&P500), Euro & GoldLess of a tutorial and more of an observation. Worth a look at the relationships if your new to trading. Bitcoin's addition is intriguing. Wishing you all a Merry Christmas and a Successful New Year. Comments & Discussion welcome. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
1
AUDUSD - Nearly there...After the post on the 20th of November Long. It looks like AU has tagged the area marked & could now be looking for at least a pullback. check the long call link below and you will see why the potential reversal is here. (nearly here) Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
SPX - Doing what she likes, S&P500, SP, US500Called the Long position a couple of weeks back. It's now set up nice for a drop. Not taking it immediately, should wait for a confirmation. The end of the cycle is here, the DXY is down on it's knees. So it's going to pullback. Looking at the pattern on the chart itself - we have a great W formed and Stochastic is overbought. We still have a false bar in the stochastic, so it's going to bounce a little higher before the real drop from here. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FOREXCOM:SPX500Short
by Mayfair_Ventures
AUDUSD LongFollowing the Elliott pattern on the 'Advanced Get' Tool. DXY weakness still which will stay the same until SPX slows a little. The risk seems pretty much off at the time of writing. IG Trader sentiment is 68% short, giving further validation of a contrarian view. COT data - Asset Managers are only 50.50% long whilst LEveraged funds are 60.89% Long. Meaning it's pointing north but slowly. This also marries the current chart situation. We can also see a bias to AUD over USD slightly shrinking this week from 86% to 85%. A couple of potential targets to close out the 5th wave on the Elliott formation, the MoB level, and up to the Fib extension are probable. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
USD Strength coming to town. DXYThere's a turn in the trend due around the 30th as part of the cycles. This lines up with an Oversold (currently - false bar stochastic) As well as the hyperextended S&P. This could be a good indication of the bubble growing and no place to run. Let's see... Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
TVC:DXYLong
by Mayfair_Ventures
USDCAD - Strength but not just yetWe have Monday as a new cycle so we could easily push into the middle of next week for the change in trend. At the moment, the Long is too obvious & with retail traders 75% Long, The price needs to drop to collect some more liquidity. Expect an extreme spike or a long candle that will scare most long positions. Last week saw Asset Managers start adding longs but Leveraged Funds adding a load of shorts. Take your time on the entry as it's the retail traders net Long that paint's a clear picture - who do the big boys sell to if all the little fish are already Long??? The Bias for this pair for institutional money is 85% CAD (AM) and 75% CAD for the (LF) Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
2
NZDUSDSimilarly to the Swiss Franc in the other direction. Too many people are net short on this already. 73% of retail at the time of writing. Asset Managers are 68% Long so we will wait for data tonight. Leveraged money has started to move short. But still favoring long. The interesting date for the cycle is Monday. So a couple of days after that would make some sense. But expect the rise to move a little more before a short entry. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
4
USDCHF - Drop to the zone and riseWith so many people now Long DXY, it's going to keep collecting liquidity for the sharp rise. It's now all about timing, Asset Managers and Leveraged funds are still short. Let's see what COT data shows tonight. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
2
Potential GBPJPY ShortIT looks like a messy H&S pattern potentially. With a crazy rally over the last 24 hours, it could be setting up for an almighty drop. The Covid Vaccine is a few months away & other companies fell over at the next stages. UK still has Brexit to look forward to, Biden is pro Euro. So a few potential pitfalls for the UK. I think the rally was 100% down to selling off of the Yen and not buying of the Pound. Let's see - leave comments and thoughts below. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
USDJPY - Long comingCOT data (Leveraged Funds) have move positions long in this last week. Asset Managers are still predominantly short. But Daily, Weekly becoming exhausted. DXY strength down overall, but this would be a pullback in the shorter term. See Daily & weekly Situations below. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
1
Long SPX (S&P500)Interesting times - SPX has all the price points baked in. Forget the Elections, the Richest CEO's and companies added $1 Trillion to their net-worth during the first round of Covid. Whilst retail traders are stressing over Biden or Trump. There are some bigger factors at play. We could see the price fall to around 3096 before a half-decent rise. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FOREXCOM:SPX500Long
by Mayfair_Ventures
Short GBPJPYHere's an update from the last GJ post. Still short & it's looking like the pattern is playing out. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
2
Short GBPJPYBrexit and Covid 2.0. No real need to say much else. However, we are in a Daily wave 4-5 of an Elliott wave. We should see a little pullback and a bigger drop. COT data also major short the GBP and net long JPY. There were key turning points in the Cycle indicator on the 5th, 10th and 15th - next is the 23rd, to the 29th. Let's see where next. Suprised if it gets to 137.85 now (low volume node) given the other data. Just waiting for UK Govt to come out with a crazy statement and GBP will sink. Good luck. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
3
GBPUSD Short MaybeLooking at the average Elliott wave cycle we are in a downward trend for GU overall. The pullback was a bit extreme but actually only to the 618. GBP strength in this situation makes almost no sense. Brexit & Covid 2.0 with Boris n friends running the show. All that's happening right now is the institutional investors are gathering liquidity. COT Data shows an 84% bias in trading the pound over USD and that is split with a 59% net short position. OVerall waiting for confirmation on smaller Time frames. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
EURJPY Short to go LongThis pair is looking for a 4th wave Elliott drop and confirmation below it's last swing low. Once confirmed (or the high is taken out, making last swing low a shallower 4) then it will pop up to 5. Short term bias is down - Asset Managers are favouring the long overall with a 68.5% Bullish sentiment. Whilst the Leveraged funds are 58.5% Long overall. Retail sentiment on IG index is showing 52% Long currently. Two key entries, below the last low (ideal) or taking the most recent highs and up to 129 potentially. Long swing trade. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
2