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Week1

USDCHF, safe and sound in week 1USDCHF did not move as much as the others, not as spectacular, but, its a safe pair to trade. In week 1, it broke its level 3 and successfully went into bullish level 1. Its a profitable pair, it did not move as much as EURUSD and GBPUSD, but it is going to make your account stay positive. Week 1, 2019, sees the successful completion of a W reversal pattern, also known as a double bottom. It went into a bullish level 1, and it stayed there till the week closes. Within the zone, we see lots of long tail at bottom of many candles which hints on good market demand to go long at the level. So for the coming week, we can play safe by going long with USDCHF. I hope week 2, 2019 will continue to be a profitable week for you traders! If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Long
by xunnobi
GBPUSD, big move in week 1GBPUSD, one of my frequently traded pair. It moved in line with our analysis for week 1, 2019. The pair made a last push upwards, breaking the high of the M formation which we identified in week 52, 2018. It then made a quick turn around and went down straight for hundreds of pips. If you have shorted this pair with EURUSD, you would be very profitable for week 1, 2019. I have shifted the zone 3 to the little M formed in week 1, 2019. I did that because I realised that the last zone which I identified has the same low as the bullish zone 2. For a trend to be in effect, it must fulfill two guiding principles, 1. A higher high 2. A higher low In my week 52, 2018 analysis, there is a higher high, but there is a low which is almost the same for zone 2 and 3, thus, I shifted them for my week 1, 2019 analysis. Not too much of an issue, my outlook remains the same. For week 2, I am looking at a good short. I will be more inclined to short in GBPUSD as compared to EURUSD, as the range seems to be larger. The next point that price should reach will be the low that was created in week 1's move, it has got a lot of room for the drop. Let's get ready for week 2 and hope all you traders continue a profitable week! If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
EURUSD, short for week 2, 2019?EURUSD surprised with its extended push beyond the first identified high of the M shape, forming a new high on week 1, 2019 before it headed down for about 200 pips. That move made me reconsider my position and exit my holdings of EURUSD. Not too sure if it also made you doubted your outlook, but it sure made me doubted mine. With that push upwards, I did not re-enter my short, instead what I did was long it, which I exited with a small profit. In summary, I missed the short because I am too caught up in the m15 chart movement. From my analysis, EURUSD is currently in its bearish level 1 zone, we can expect the pair to continue to consolidate for a little while before making a strong move downwards to its level 2 zone. The move to level 2 zone might or might not happen next week, the pair can take the whole week to consolidate and range before moving downwards. Currently, there is no indication of a strong move. In week 2, look out for candlestick combination and price action before entering the short. During NFP in week 1, there is a quick drop followed by recovery back to the price level prior to NFP. I see it as a strong buying demand, thus, it is in all possibility that EURUSD can continue its upward movement, or continue the tug of war between bull and bear. Be cautious with EURUSD and wait for a good signal to enter short. Have a good week 2, we are left with 51 trading weeks only for 2019! If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
USDJPY, big move on week 1, 2019USDJPY made a big move during the opening of 2019. I was long and was caught by the massive drop it made during its week 1. This would be an episode which exposed the weakness of my trading strategy which I am going to reinforce in future. Week 1 is a loss for me, with my overall equity fell by about 5%. That's ok, at least I stayed out of USDJPY before the massive 500 pips fall. For my analysis on the pair, I am looking at UISDJPY to make a second touch on the long tail it made on week 1. I would like to see a reversal pattern formed by USDJPY. I would be looking at long for USDJPY after the reversal pattern (Double Bottom) formed. That means for week 2, we are looking at roughly 300 pips fall to finish the second bottom. The market demand that pushes the price back to the close of week 1 did hint on some long demand at the low of week 1. We will need to continue to monitor the movement. I am unsure how long USDJPY will take to form the second bottom, so my strategy would be looking at shorting instead, even though I still maintain an overall long view of this pair. After the double bottom, make sure that you have a candlestick signal or some sort of signal you trust before entering. If you made a loss, its ok, its only week 1 of 2019. If you made a profit, I am happy for you and I hope you can continue your good work. Stay flexible, be open minded and lets go for week 2! If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
USDJPY, start of bull for week 1, 2019USDJPY has made a very predictable and good price movement. Anyone who has shorted it since week 50, would have ended with very good profit! I personally shorted but did not hold it all the way as I mainly day trade, so I got a couple of drop while USDJPY was on its way down. So what can we expect for 2019, week 1? From my analysis, the bear movement of USDJPY should have ended, and a new bull trend on 1H should be coming up. I would expect perhaps week 1 or week 2 of 2019 to make bullish movement, to perhaps finish off the 3 bullish level, and they can continue on to bear and back to bull. Some traders have asked me how long can the trend last? My answer: as long as it last. Even though counting the zones and levels have been fairly accurate to give us an overview of the price movement, this type of analysis does not provide an estimate of how many pips it will go. It is based on price movement and price patterns. Trying to estimate the extent of pips movement is not a strength of my trend analysis. However, from the price movements, we can usually infer how strong the current trend is. For USDJPPY, the bear trend that was showing itself in the H1 chart is quite strong, giving very little space for range movement in the respective zones, it went straight down with no hesitation. so it might take a while for the bull trend to commence because it takes time for traders to accept or to change their positions from bear to bull. That being said, I am in the view that week 1 of 2019 will bring the prices up, at least break up to a bullish level 2 trend. Keep an open mind and be flexible if there is a need to change your positions. That will keep us profitable for the many years to come. If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Long
by xunnobi
GBPUSD, moving from 2018 to 2019GBPUSD did not move a lot in week 52 of 2018, it did break upwards to a bullish level 3 zone, however, it wasn't by a lot. Anyone who entered long in this pair would have stayed in the green, however, it might not hit the expectations of many traders. Most of the movement was spent in the range of the level 3 zone. The price movement doesn't seem convinced that it will continue to head upwards, and a reversal pattern was spotted in the level 3 zone, which hinted that the following week 1 of 2019, we might see a new bearish trend. The break from bullish level 1 to level 2 and top level 3 wasn't too fantastic. Each break upwards is just marginally higher than the previous. This did not give me confidence on the upward strength of GBPUSD. On the other hand, GBPUSD hinted that the coming bearish trend will be as strong as the second top of the double top pattern in level 3 zone failed to reach the same high as the first top. I will be building contract short contracts and expecting a drop for week 1 of 2019. However, lets stay flexible and open to market development and trade in the direction of the market, so we can all stay profitable in 2019! If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
EURUSD, analysis for week 52. 2019 is differentEURUSD has successfully pushed up to level 2 for week 52, anyone who long this pair since last week would be able to see a good profit. However, because of their price movement in week 50 to 52, it prompted me to question my outlook on this particular pair using my usual trend following on 1H chart. We have seen this pair went up to a bullish level 2 zone, which usually means that it will continue higher to level 3. However, this time around, I will be looking at EURUSD reversing at level 2. I interpreted the level 1 as a high low rest and a reversal pattern in its level 2 zone. What we see at level 2 is a double top, which will set the reversal stage for 2019, week 1. A double top occurring in a bullish level 2 zone can also continue its upward trend by simply failing to break the previous low formed in zone 2, or creating a flag pattern. I am more towards a reversal this time around because it seems that the weakening of USD is not going to be permanent and a government shutdown occurred in week 52 did not bring this pair a lot higher. So it seems that the overview of EURUSD is more bearish than bullish. Therefore I am giving a higher probability to an upcoming bearish trend in week 1 of 2019. I hope all traders will continue with their good performance and make consistent profit from the market! If you have any thoughts on EURUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Short
by xunnobi
USDCHF, last move for 2018. Rdy for 2019Finally a completion of a 3 level moves for USDCHF! Last week, the analysis point us towards a drop in USDCHF for week 52, and fortunately it did end up a lot lower with a new level 3 zone. This three level downward moves did throw me off a little with the high of level 2 zone getting to same level as zone 1, it triggered my paranoia of a high/low rest. Currently we only see half of the W being formed therefore I have yet to put a rectangle on the level 3 zone. For week 1 of 2019, ideally a candlestick pattern to push the price up so to confirm a complete W shape before we can take a good long position. With the absence of a complete reversal formation, long can also be entered at a smaller position. You can build up the long positions with longer monitoring frequency. If you have shorted in week 52, you would have net a good profit before the market closes. I changed my outlook of USDCHF to a long from short in week 51. However, do note that level usually stops at three but not always they will end off at three zones. For USDJPY, we have seen the fourth zone in week 52. Be flexible, stay open and be ready to take on positions on the other side! Hope your 2018 has been great and continue the great work in 2019! If you have any thoughts on USDCHF's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
Long
by xunnobi