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Perfect Example On How To Utilize Strong FX pair With Weak One !There are many trading strategies out there in the world but it all does not suit us perfectly!. Therefore we end up looking for a new or revised strategy and customize it to our needs. Here i am going to explain one of the best strategy to approach the market when one FX currency has been showing bullishness both fundamentally and technically as well as sentimentally. Currently as i write, we would all wonder everyday what could be the possible strongest FX Currency showing more bullishness at the moment so we can take advantage? Well to answer this question can be hard as the trader needs to keep up and read the fundamental aspects of each FX currencies and decide what FX currency is doing the best. A few weeks ago it was the USD and now in my opinion its the GBP! If you do your reading and technical analysis well you will observe that GBP has some pretty bright future and to add to that the pair (GBPUSD) has been rising for 4 weeks in a row!. Furthermore fundamentally its a currency that is brexit driven and recent news suggests that a deal may be about wrap up by somewhere in October 2018. The GBP has been hit hard by brexit for a long time now, but the currency is largely undervalued by looking at the monthly charts of GBPUSD. Many GBP pairs are showing a lot of signs of bulishness at the moment and are poised for likely gains in the near term. So once you have established the strongest and the currency with a brighter future at the moment we can proceed to the next step. Now ask yourself logically, since i have found the strongest currency pair at the moment what currency should i pair the GBP with? Its a very important question! and as traders we would always like our trade run smoothly with least disturbance as possible and therefore pairing the GBP with the weakest currency seems to be the only logical and technical option here. So coming back to step one, what is the weakest currency pair at the moment? if you read your news and do technical analysis well it might not take you too long to figure it out. For me its the NZD! Why you ask me its the NZD? Well my answer is based on my personal analysis such as looking at the NZDUSD chart its been dropping like rocket for a long time and the fundamentals are the least favorable for this pair. Not only the trade war has hit NZD hard but also their reserve bank failing to give hints on the NZD rate hike. You may look for other currency such as the CAD, but its price is closely linked to OIL market and the volatility can make the CAD go crazy even on short terms. The USD seems to be another currency to think about, recently its showing some weakness but i see it as only temporary. The EUR is strong too at the moment and supported well fundamentally. The safehavens JPY and CHF as said are safehavens and in the event of any market turmoil they become quite volatile and change directions pretty quickly! The AUD is also quite weak at the moment but fundamentals are starting to support this pair. So the last and final crucial step would be to shortlist the most weakest fx currencies and do technical analysis to look for LONG opportunites on higher timeframes! GBPAUD does not indicate any good long term technical opportunity to enter however the GBPNZD has provided some nice set up. Look at the main chart it can be observed that the price was confined in a range for weeks and has now broken out!. I am simply waiting for the price to retrace to 38.2 fib ratio of previous swing before i decide to go LONG on this pair!. The redline represents the target which also happens to be the strong resistance on the monthly charts. The price might likely head to that level which would give us a good risk to reward ratio possibly 1:3. I hope this analysis would be helpful to all as for now and in the future too. Its a really well rounded good strategy pairing the strongest and the weaker pairs together to have a best possible scenario and reward. thank you and follow me if you like my analysis. If there are any signals pertaining to this pair i will post them.
Long
by FX618Analysis
Bitcoin BTCUSD Still Long, Still StrongBitcoin BTCUSD Still Long, Still Strong So, for the first time in a while no selling pressure into 01:00est/06:00gmt. Was looking for a test of the upper parallel on Bitstamp which was scheduled for overnight or into today at 10900 and which still looks on the cards so far for later - once agin the direction of the callis OK but the stop left something to be desired - wanted it under 10400 as it could come back to 10200 - and in the event it came down as low as 10146 in the first hour of far East opening around 02:00 gmt. So again, without using a 50 point wider stop than the stated level a good call turned useless. Ironically if following the Tv updates you'd be long and strong. Just hope you guys are anyway but another graphic example of a head shot that kills the guy standing next to the target. You have to calibrate your own rifle to compensate for this. The rifle is quite good. It's the sights need calibrating . Anyway, a buy burst at 07:45 has won the patient another 300 to 400 points so far today - Bitcoin is now perched on the blue line at 10666 and unwinding the burst higher - has to hold up here to avoid going into a bigger and longer lasting continuation pattern, falling back to 10522 line and potentially back to the newly forming dynamic underpinning the rally so far from the secondary low at 9373. It's another buy if we see this later. Looks to be more updise still, to 10886 line and into the upper parallel on Bitstamp feed 10980 where it's likely to encounter problems again. Last night was suggesting we short from the upper parallel when/if touched today...let's see how it behaves when it gets there first.. Some people are having problems finding the correct link to fastest updates - it's been updated - please check top-left of main page if an active trader and you prefer all updates asap. Yesterday's Updates 12:18est Update The Deep A failed break but the sharks can't get their teeth into much whilst the bait-ball is saying within the safety of the parallels - and when it pokes above the upper parallel will return to the deep and leave the ball in tact to rise higher - the sharks will return though if they see the ball forced down below 10098 - and then the whales who are slower to reach the commotion - and try to eat every last sardine in the ball Life in the ocean is much the same as trading Bitcoin sometimes. 19:05gmt/14:05est Bitcoin is trying to break the upper parallel now and is a buy once 10235 is broken above on the next dip with stops about 120 lower - need to see some green now to know the break is good
BITSTAMP:BTCUSDLong
by sumastardon
5
GBPJPY Responding Well To Whole Numbers.On a daily time frame you can draw out an ascending channel that price has tested but not yet breached. Last week we had support targets set at the 150 level which price tested but did not break. Upon further review with this weeks open being at the support level can imply a certain level of strength. If we see a bounce off this level at the bottom of our channel price can move to our daily resistance level @153. An in depth analysis can strongly imply that the 151.5 level can give price action a hard time being tested 8x previously on a 4H time frame. If the 151.5 level holds we can see a retest of the 150 level once again. The question that we may answer this coming week is "Will price break the 150 barrier?" If so we can see strong bearish moves towards the 148 level of support. As you can see if price responds well to the analysis conducted it makes for a decent entry with a tweezers bottom and a higher low. This suggests a desirable bias that we may be moving towards the implied levels. Thank you for your attention. Please leave a constructive comment or like on this post if you found it helpful or entertaining. Happy Monday! Stay WINNING!
Long
by Alexkly