Showing possible distribution pattern to then continue long
USDCHF has moved quite nicely, according to previous analysis, showing persistent in the bearish trend, and went on to level 2 bearish zone. However, in week 5, it seems to halt and change the direction. I am heavy in shorting USDCHF, and I ended with about 4% overall equity loss but was helped by profits from other pairs which ended my January with negative 0.4%....
USDJPY has not moved much in week 5, it seems to be range-bound for the time being after the flash drop a couple of weeks back. It is natural for the price to go into smaller and smaller range consolidation after a large move, so we might be in it currently. If we are going into a smaller range bound, two questions could be asked regarding the current situation,...
EURUSD made a strong rise in week 5, it raised from Monday to Wednesday, and only to die down on Thursday after seeing a reversal pattern on the M15 chart and follow by a second confirmation on Friday during the NFP which completes the reversal pattern on the H1 chart. EURUSD completed its three levels of rise and ended week 6 with a complete bullish level 3...
GBPUSD has finally made a reversal pattern as we see on the H1 chart. It seems like the price has overextended for a while and finally, we see some hint that it would be moving down for the near future. In week 4, GBPUSD has made a small consolidation followed by a final push upwards which lead to the reversal price pattern. It then quickly break below reversal...
In week 3, we expected the bear to tapered down and bull to regain a foothold for week 4. However, EURUSD makes another push below the level 3 bearish zone and reached a level 4 bearish zone in week 4. While that was unexpected, since we are looking at a reversal at level 3, such move does happen. EURUSD only went back to our outlook during Friday of week 4. A...
USDJPY sees quite a boring week, consolidating for the whole week with a strong bear move on Friday. The move on friday completed the reversal double top pattern, it can also be seen as a triple top if you like to. It shows the exhaustion of the bullish move, which we expected in week 4. For anyone who long USDJPY, profit should be firm. With week 4's movement,...
USDCHF made a long consolidation in week 4, pushing up another zone to bullish level 4. At level 4, we see a reversal double top pattern and finally, after a long wait, it started its bearish move and successfully moved to bearish level 1 zone in week 4, on Friday, before the market closes. I have been anticipating the short move and even entered short position...