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Week7

USDCHF, week 7's long tail for week 8 reversal?USDCHF moved inline with our expectation in week 6, however, a little surprise came along. However, if you have been going long with USDCHF, you would have made a good profit and stay relatively comfortable for the whole week 7. In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading. On the Monday of Week 7, USDCHF made a surprising upward move and ended it off lower than the starting point (hourly candle), that left a 90 pips upward tail. I didnt seek to find out what caused the spike, all I knew was that the opportunity to enter has presented itself. I went long, and exited for about 35 pips on that day itself after I spotted a consolidation. (the consolidation did happen and lasted till Tuesday) The reason why I entered long was due to the analysis of Week 6 and a seemingly week reversal price pattern that was spotted as a bearish level in week 6. Holding till the end of the week would have yield great returns, however, it was not my habit and trading style to do that. In the analysis of Week 7, we saw the formation of a classic H&S, which fell in line with our bullish zone 3, which would typically see price reverse at that zone. Thus, we are expecting a downward move in the coming week 8 for USDCHF. For the coming week, I am most comfortable to trade GBPUSD, EURUSD, followed by USDJPY then USDCHF. 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
USDJPY, quick reverse in week 7, outlook for week 8USDJPY moved as analyzed in week 7. A strong upward movement which ended on Thursday and followed by a start of bearish trend through the end of week 7. For traders who long the pair would be delighted to see their account increase in the first half of week 7, however, the signal to short is quite fast, even though I caught it myself, I exited before the day ended on Thursday. In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading. Looking at the analysis of USDJPY, we would expect them to break down to bearish zone 2, currently, the price is staying the bearish zone 1. However, we are not too sure where is the high of the zone yet, so I am looking forward to a candlestick combination which would signal me to short USDJPY. In week 8, I am expecting USDJPY to at least land itself in the area of bearish zone 2 before completing the week. However, stay flexible and mindful of the changes, if it is not according to plan, please exit. We live to fight another day! If you have any thoughts on USDJPYs 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, not a good week 7, expect a good week 8In Week 7, EURUSD can be seen as a little confusing to traders. In Week 6, we expected a continuation of the bear trend, but we only see EURUSD keeps pushing and coming back to the zone of the previous zone. That could lead us to think that if the break of the zone has failed and instead stay long or stay out. I would like to think that it is ok to stay out in such an environment because, at first glance, it is a bit difficult to separate them out. In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading. In the first half of week 7, it should be easy for traders to extract profit out of the bearish move of EURUSD. In the later part of the week, I started asking myself if it is going to reverse, and on Friday, I made up my mind that it might continue a downward trend instead. Like GBPUSD, towards the end of Friday, it made an explosive move upwards, which I stayed out as I decided to rest myself. As we can see from the analysis of week 7, it did complete 3 levels of a bearish zone, however, each zone is close to another which would be the reason why traders might be confused over the status of the trend. The decisive upward move on Friday should clear the doubts that we should have, and we can expect an upward movement in week 8. I would expect the pair to at least reach a level 2 bullish zone in week 8, and I am quite excited about it. I would be using the same entry plan as mentioned in my analysis of GBPUSD, to minimise the potential losses. 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
GBPUSD, a good week 7, where will week 8 goes?In Week 7, GBPUSD made a wonderful continuation of the established bearish trend. In week 6, the bearish trend rested at bearish zone 2, which leaves us halfway through the trend. In preceding week 7, we see it completed the whole cycle of a bearish trend. I am excited about the new bull trend in week 8. In week 7, I traded all the 4 symbols I analyzed here in tradingview, and I made about 7% profit in my PAMM managed fund and I hope my signal subscribers are happy with the results as well. If you have a bigger leverage and risk appetite, 7% would be minute as compared to your gain in week 7, I hope you make a profit from week 7's trading. GBPUSD made consistent and predictable movement in week 7, until the hours before closing on Friday. I was actually shorting before the rise, and I exited the trade with minimal losses, I think my subscribers who are looking at the trade with me must be worried. Shorting about 1 hour after I exited my short trades, it made an explosive rise, but I am not aware, as I went to rest. Its a missed trade for me and a good example of how someone can mistake a reversal for a continuation of the trend. Moving on with the analysis, we can see that the rise on Friday consists about 100 pips, and I would say that its strong and there was not much seller movement on Friday, probably they are busy buying now, and not prepared to sell in the near term. A reversal pattern at level 3 bearish trend has been spotted and completed, so we would expect the price to rise to at least a level 2 bullish zone in week 8. A lot can happen in week 8 to reach that zone, my plan would be to enter a buy after the market opens and slowly build my positions. If the market continue to shift downwards, at least I can exit with minimal losses. Account protection is more important than anything else in FX trading. With that, I end my summarised GBPUSD analysis for week 8. I hope you guys will continue to stay profitable in week 8! 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
GBPUSD, week 6 as expected, ready for week 7!GBPUSD made a great bearish movement in week 6. It should provide short traders with awesome profit. Together with my entries in EURUSD, it enabled me to make an increase of about 8% in my account equity. Not too bad in my view. In week 6, we see a break down to bearish level zone 2 and it ended off staying in that zone on Friday. What would be expected might be a consolidation then a continue bearish break. It just one of the possibility that I am expecting it to happen, so if it doesn't come as expected, I would just stay out and wait and reassess the market again. I hope all traders continue to make a good profit in week 7! 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, week 6 as expected, can week 7 remains? A strong bearish move for EURUSD, its low risk and high returns. For all traders who shorted it, congrats! I personally missed the initiate movement of the pair, however, I managed to get in together with GBPUSD, which see a growth of about 8% for week 6 in my overall equity. For week 5's analysis, we expected a bearish move for week 6, which happened in the end. However, even though the move was persistent, I am not entire confident that it would continue to do so for the whole of week 7. I am expecting some range movements in week 7 or week 8. Therefore, even though the overall outlook still remains bearish, the very short term movement might not provide an opportunity to short just yet. I hope all traders continue to make awesome profit in the coming week 7! 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
2
USDJPY, week 6 proven, week 7's expectations?USDJPY moved upward slightly in week 6, which was enough to confirm that bear would be staying out in week 6. It then spend the rest of week 6 staying in range mode, consolidating and getting contracts. Any traders who wants to get the pair to move either upwards or downwards would be stuck with losses. The analysis in week 6 painted an overall bearish view, but I got no confidence in that, especially after the close of week 5's candle. So for week 6, I had no trades in USDJPY, stayed out of the consolidation and make no losses from this pair. The analysis for week 7 changed from short to long because of the upward move that happened in week 6. However, to remain cautious, I have low confidence and comfort in this pair. I will continue to monitor this pair before deciding any entry. If you have any thoughts on USDJPYs 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
USDCHF, what to expect for week 7USDCHF made a strong upwards move in week 6 and only until Thursday and Friday, we see some consolidation going on. It was a good price movement for traders who long this pair. Good profit with minimal risk! USDCHF moved according to our analysis in week 6, however for week 7, it is a little mixed. In the bullish zone 1, we can see a double top pattern which hints for a reversal. If the market supports it, the trend can turn downwards without USDCHF completing the full trend of the bullish trend. So for week 7, even though the overview of the pair continues to stay bullish, I would be monitoring the movement before deciding to enter a long or short. Missing the movement is also ok for me as we have 4 pairs to monitor and endless opportunities to trade. So don't feel bad if you miss a trend! I hope all traders can continue to make good profit in week 7! If you have any thoughts on USDCHFs 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