Elliot_Myers

Elliot_Myers

A breakdown of OIL with potential scenarios for both the up and downside. The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested. Good luck!

Elliot_Myers

A breakdown of EUR/USD with potential scenarios for both the up and downside. The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested. Good luck!

Elliot_Myers

A breakdown of USD/JPY with potential scenarios for both the up and downside. The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested. Good luck!

Elliot_Myers

A breakdown of Gold with potential scenarios for both the up and downside. The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested. Good luck!

Elliot_Myers

Hi traders just sharing analysis for the USD Dollar index and how to pick a great entry. Potential buy at any failed re-test of the blue line which also aligns with the RSI and historic support levels. Potential sell at the 61.8% fib level which aligns with previous resistance. The blue box indicates the criteria for entry with 4/5 requirements needing to be...

Elliot_Myers

We can see price hit resistance in previous structure and has now formed a very exhausted 4HR candle indicating that the upside is now in view. Oil and Gold have reversed their bearish Dollar runs and the USD index is also picking up which adds further weight to a long trade. Good luck!

Elliot_Myers

USD/JPY opened higher than the Friday close to a small retracement in it's initial hour and price is now trying to push high (hourly view) with a wick formed above today's open on the next candle. Markets could be primed for the Bank of Japan Chief Kuroda who is due to speak in the early hours of Monday and as per recent speeches he will likely be seeking to...

Elliot_Myers

Lower payrolls would usually send the Yen soaring against the Dollar however the Dollar rallied against the Yen on Friday before a predictable retracement. The purple dash is a historic yearly resistance level where if price closes above a prolonged bull run is more than possible. For now a retracement back to prior structure before a continuation of bullish...

Elliot_Myers

According to a new Bloomberg interview Mr Putin is pushing for OPEC and Iran to halt oil supply in order to rally prices above $50 a barrel. The measure of success will be a close above $46.00 as it was breakout above this level that previously took oil above $50.00. Given the nature of oil any major exporter announcing they want to cut supply should provoke a...

Elliot_Myers

Non-Farm was lower than the last month (see last gold post) and we have filled our buy targets right on the money as Gold is now struggling as Fib extension 161.80% with a failed break and close below this level Friday. Gold has scope to go higher however it'll need to close above Friday's high to confirm this. Right now any failed re-test of the blue zone is a...

Elliot_Myers

I've marked in red and green arrows where this range (purple dotted lines) has acted as resistance or support, it's clear that the purple range is a key level for determining if the Dollar will be bullish or bearish as sustained breakouts often occur within this range. With farm roles lower (as expected) we have a strange scenario where by the Dollar, Gold, Oil...

Elliot_Myers

As posted yesterday we have a perfect trade with entry in the blue zone and target 1 already hit. Hope you caught this one traders!

Elliot_Myers

As can be seen price has broken out of the wedge formation. What usually happens now is a deep retracement back into the wedge and a spike back out continuing the upwards trend towards a re-test of previous highs. The farms rolls tomorrow are historically the worst and this should give a perfect opportunity for bulls to carry price higher. See below for a double...

Elliot_Myers

Historically September has the worst non farm pay roll figure of the year which opens up opportunities to buy the ultimate safe haven asset Gold. Below is a play with price moving lower into previous structure and finding support. On the poor payrolls price will surge towards target 1 and further weak dollar news could see target 2 achieved as well.

Elliot_Myers

Sell on a second re-test opens a good short opportunity.

Elliot_Myers

Approaching 78.60 level for a short opportunity.

Elliot_Myers

Entry at blue zone - double fib confluence.

Elliot_Myers

Thoughts?