DavidCallwood

DavidCallwood

The most recent impulsive move (380 pips) was to the downside, which also broke a prior support and trend-line support. Looking for price-action to return to 0.6850/0.6900 (completing a flat correction) before continuing to the downside. This move can put a few pips on the score board, about 40-80 pips if you buy at current market but I anticipate the next...

DavidCallwood

#OnMyRadar... My Market Opinion: 3 Point Reversal which involves a swing low, followed by a lower low, then a higher low. In addition what I am seeing is a possible WAVE 2 completion which can lead to an impulsive WAVE 3. All things considered, I am currently a buyer in this market from 1.4550. NOTE: Use a proven method that has worked for you. I hope this...

DavidCallwood Updated 

Description On Chart... Trade with care and proper money management.

DavidCallwood

We have been presented with a wave 1-2-3 and an almost completed wave 4 triangle (corrective structure). Waiting for a pullback and failed break/test of the *ACE-Line* (upper channel/trend-line resistance) of the triangle to sell short or a break below the *BD/support line/lower channel to get short. *NOTE* If price action produce and impulsive breakout...

DavidCallwood

1st Entry Type: Since the prior impulsive move we have seen price action on this pair transition to a corrective phase. I am waiting for a pullback closer to one of the trend line and a price action signal to get short. 2nd Entry Type: A close below 1.5520 (breakout level) on a H4 or H1 will prompt 3rd Entry Type: Placing a Sell-Stop @ 1.5515 to trigger at...

DavidCallwood

Just as simple as it looks... FX:GBPJPY Broke out the wedge, Waiting for correction to confluence area, fib 50%/61.8, prior swing low and trend-line resistance and pull back to 20EMA.

DavidCallwood

For the past 55 days price action for FX:GBPJPY0.64% has declined just shy of 2,000 pips from 188.75 to 169.15 while beginning to possibly slowdown near levels not seen since October 2014. The massive decline is currently very extended and can possibly experience a bit of profit taking in the near term. Trade Idea: I will look for bearish corrections on a lower...

DavidCallwood

Waiting for price action sell signal at/near upper trend line / confluence (2030/35) to get short. If we see slow gradual market correction I will look to sell near the highest point then add to position at H1, H4 close below last Friday's low of (2008) for down trend continuation. Note: It is always possible for markets to not play out as anticipated in any...

DavidCallwood

Both 1st and 2nd targets hit 380 pip range high. Now we wait for the next trade...

DavidCallwood

Last week FX:EURAUD rallied 600+ pips to 1.4960+/-. Since then price action declined 200 pips +/- for an approximate 1/3 retracement of the rally waiting for price action buy signal at/near lower trend line to get long. If we see gradual slow correction I will look to buy near the lowest point then add to position at close above upper trend line with...

DavidCallwood

Hey Traders, This is only an update to the GBPAUD market forecast I did coupe days ago (11-17-2015). So far trade has performed as anticipated, failing upon retest of supply zone / prior swing high. Since the initial, forecast price action broke below the the lower trend line support, testing a swing low with bearish bias in order. You can see the original...

DavidCallwood

Impulsive, Corrective Bearish Continuation.

DavidCallwood

PLAN A: Sell the rejection or price action slowdown into the upper trend line resistance / upper wedge (2.1480), then add to my position if price action breaks the lower wedge, finds support and potentially retest the bottom of the lower trend line ( 2.1320/40) . PLAN B: If price action impulsively break through the upper wedge into resistance (double top...

DavidCallwood

#ON MY RADAR | What draws my attention to this pair (GBPUSD) is FAMILAIRITY, Breakout of the prior swing slow, support area @ 1.5250 and a pull back to the level now displaying indecision. When I first review a chart I gravitate to the first thing that jumps out at me and commands my attention, then I expand from there. In today #On My Radar | Weekly Forecast,...

DavidCallwood

This trade is more technically motivated (H4 chart) than fundamental. Following last Friday's NFP explosion, which influenced USD bids; EURUSD 's price action declined about 180 pips +/- in a matter of hours, descending to a low of 1.0690 . Since then, bears have made a valiant attempt to move price lower only to display exhaustion during its second attempt...