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Week3

USDCHF, strong bull in week 3, a change in week 4?USDCHF made a fake move in week 3, showing a double top look alike price pattern in the first half of the week. I personally entered long for this pair, which I profited from the move. It went on to push higher persistently, all the way to 3 identified bullish zone. It ended off the week with a seemingly double top. It's almost 75% complete, we just need the price to move down on the right to see a complete double top. From the analysis, I would be expecting the pair to be trading lower, for the bear to regain the trend and trade lower. For week 4, I am starting off with an expectation of bear trend in USDCHF. Stay flexible with an open mind and I hope you will continue to make good profits in week 4! 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!
Short
by xunnobi
2
GBPUSD, surprises in week 3, expectations for week 4.GBPUSD, an interesting pair which exhibited a situation I known as a trend reset. In week 3, our analysis showed that GBPUSD would be heading for a drop, which it did, for the first half of the week. I was holding on to my short and eventually, the dip earned me about 14% increase on my overall equity. The unexpected bullish move came after the dip, it went all the way up and cleared the high of the week, creating a new high. This move sort of "stunned" me during the week and I did not enter any position after taking my profit. From the movement, it seems that a strong bullish force just took over, and I was waiting to see if a reversal pattern would be created and thereby dropping the price back down. It didn't, so I did not enter the short. I was in a short mindset for week 3, in the end still no other shorting opportunity, thus I waited for the rest of week 3. The trend reset that I identified would reset the level count and it is currently at bullish level 1, even though it seems like a double stop, but I doubt it is. If you would like to short, I propose to wait and see how the price moved for the first half of week 4 to have better clarity of the direction of EURUSD. I would be maintaining an overall long outlook as I identified the movement in week 3 as a trend reset, and is currently in level 1 bullish zone. 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!
Long
by xunnobi
2
EURUSD, week 3's bear to week 4?EURUSD made a good drop in the whole week of week 3. Congrats to all traders who shorted this pair, its a good trade with very little consolidation in between and the movement is kind of expected as well. For week 3, I did not participate in the movement, even though our analysis in week 2 favored shorting for week 3. Looking at our week 3 analysis, it seems that the bearish movement is coming to an end. From the chart, we can see that it successfully broke the low of bearish level 2 zone. Which means all we need to do is to wait for a price pattern and reversal candlestick combination to enter long on EURUSD. Not a lot to debate about regarding the movement for EURUSD on week 3, I can only say that it made a lot of traders good profits as the move should be expected by most traders in the market. I hope all traders continue to make good profits in week 4! 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!
Long
by xunnobi
USDJPY, will week 3's bulls continue to week 4?No surprises here on USDJPY's week 3 movement. It has gone up steadily, almost on a predictable basis, which is the kind of trade professional traders are looking for. The name of these kinds of trades might be known as boring, but it is the best, as it gives traders what they are looking for - Profit. USDJPY successfully broke the previous high in week 3, I am not too sure if how many other traders traded it, but anyone who long at any point of time would be able to extract some form of profit out of it. Our analysis on week 3 was for USDJPY to continue its upward which I am happy it did. However, I am not into USDJPY for week 3 as I am mainly focusing on GBPUSD and USDCHF. Since USDJPY broke the previous high, my take on it was now for USDJPY to fall instead of continuing rising, even though it looks fantastic to expect the bull trend to continue. Currently, the level count analysis still pointed USDJPY to continue upwards, however, my personal take was to see USDJPY exhaust its bullish trend and resume the downward movement. So for week 4, USDJPY will continue to be the least possible pair for me to long, I will consider a short position for week 4, depending on the price movement. Stay flexible and open-minded, I hope you will make an awesome profit for week 4! 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, week 2's most wanted. After the massive drop in week 1, USDJPY confined itself in a ranging state. In week 1, the analysis points towards a bullish trend, however, it was for USDJPY to make a second leg to the low, forming a complete reversal pattern and to rise after. However, what we have seen in week 2 is quite different. The pair did not move down as expected, in fact, it is moving slowly upwards, reflecting a strong overall bullish state of the pair. Small and slow movement usually reflects a strong trend, therefore, for USDJPY, I will maintain a long call on them, even though a second leg does not look possible now. It seems to be moving upwards quite persistently. I will continue to watch USDJPY and most likely not trade, as currently, my most comfortable pair would be GBPUSD, EURUSD, USDCHF followed up USDJPY. However, it does look promising for a good rise in week 3. I hope you will make good returns from USDJPY if you are trading it. 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, lets short for week 3!GBPUSD's week 2 movement largely confined itself in a range until Friday, when it rises about 120 pips and ended the week with a bearish candlestick combination, which I took the opportunity to enter a short. I did not change the label of the chart because I wanted to remind myself of this incident where the price went up above the supposedly reversal level and price pattern. The small reversal pattern created in the latest box reflects the reversal price pattern I am looking for. If you look at the M15 chart, it will also show a candlestick combination which reflects the change of trend when found in the right place. I entered long in Thursday US session, stayed on with it, and to realise about 100 pips and 50 pips respectively on two long positions in GBPUSD. Later I entered a short, at 1.28580. Currently up by 17 pips, and the swap for the weekend is positive. I am expecting the pair to move lower for week 3, and to add position when the market opens for its week 3. I hope you make good gains for week 3, and continue to increase your account's equity! 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, level 3 in week 2. Short for week 3EURUSD went ahead to create a bullish level 3 in week 2, which I did not expect it. In week 1, the analysis was for EURUSD to drop after a reversal formation was formed at the bullish level 2 zone. Looking back at the analysis, the price pattern convinced me that level 2 will be the one reversing rather than level 3. That's why I did not change the marking of the zone, so to reflect the oversight and to remind me of what happened before. I avoided trading EURUSD for week 2, as I cannot gain good clarity on the movement, even though the analysis expects EURUSD to drop after level 2. However, with the level 3 reversal pattern being formed on Friday, we can be sure that the price would be moving through three levels of bearish movement (not 100%). So I will be looking to enter short in EURUSD. Hopefully to see a 10% increase in my week 3's profit. The reversal price pattern is strong in the highlighted box with "M" because the second high is lower than the first hight, signaling a strong bearish power. So my take is to stay with the bearish trend, till other combination/patterns emerge to suggest otherwise. Stay flexible and open-minded, and I hope you continue to make good gains in week 3! 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, week 2's surpriseUSDCHF week 2's move ended near the opening of the week. Both long and short traders would have suffered losses somewhere along if they held on to multi-day positions. The winner would certainly be the day traders. I was shorting the USDCHF on Monday and exited sometime late Monday or early Tuesday. The analysis of USDCHF was for it to rise in the longer term, but it unexpectedly made a dip of about 65 pips lower than the low identified in the W reversal. While this is not a tremendous move, it can shake the long traders off. After the dip was an immediate rise which caught all the short traders off guard and some might exit with little or no profit, some might have made a loss. I personally made a loss as I expected the price to go back down again and form a second leg, however, the losses were covered by the gains I made in GBPUSD. Making my week 2 net positive. So it seems that the price will be going back to the bull trend? I actually think so, the zone that it consolidated during Friday to the end of the week, is considered to be a bullish level 1. I expect the price to rise fast on Monday till a bullish level 3 to be formed sometime in Tuesday or Wednesday. Therefore, moving forward, I am going to long USDCHF on Monday, since this rise has given me confidence that it will continue to rise further. I hope you will continue to make good gains in week 3! 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