FinancialGamblR

FinancialGamblR

Just a couple of key price action levels I'm watching here. 1. This is likely a news driven move. 2. This is the first indication of price exhaustion. Price fails to push to new highs. 3. By this point, we establish a neckline. Price tried to trade above it and failed to sustain. 4. This is another attempt to trade above the neckline. Price also didn't...

FinancialGamblR

There are two key levels to watch here. Lower Upper Boundary: 1.62795 Higher Upper Boundary: 1.6307 1. EURNZD was in a massive downtrend and then stabilized. 2. Lower Upper Boundary has already been established at this point. Price showing upside potential by breaching this upper boundary. 3. This is another, very clean breach of the Lower Upper Boundary. The...

FinancialGamblR

Japanese yen pairs have been a pretty difficult read lately. However, this unsustained breakout does give me some decent early indication that there's downside to be expected. 1. Price first attempted to trade above the 85.885 level, which failed to sustain. 2. This is the great indication here. Price made another attempt to trade above the 85.885 level and...

FinancialGamblR

After trading in a range, we finally see an upside breakout. Price is also holding above the 0.84635 upper boundary. Here are the key points that I have been watching: 1. Price made a quick attempt to trade above the 0.84635 level. Although this breach was short lived, it does provide an indication that there is upside potential. 2. Price breached the lower...

FinancialGamblR

1.2369 has been a key upper boundary to watch. Four key price action points that I have been watching point to upside potential. 1. I wouldn't necessarily classify this as a fakeout. However, price traded below and failed to push lower at this point. Price went back above the 1.23165 lower boundary level. 2. This is a drift term. After a bullish spike, price...

FinancialGamblR

USDJPY seems to be moving in line with DXY for the time being. Three key points I have been watching: 1. Price hit a high of 114.465. 2. Price traded a pip lower at 114.455. The failure to breach higher is a good sign that we might be seeing exhaustion to the upside. 3. This is where I think downside momentum is picking up. Price just hit a high of 114.355,...

FinancialGamblR Updated 

Two key price points on my chart that I have been watching. 1. EURUSD has been in a massive downtrend. The price at Label #1 failed to breach a new low, which is a first indication that I should be looking for a structure for a potential reversal. 2. Price broke above the 1.15865 level on the afternoon of October 13th. Nothing really to talk about here as I...

FinancialGamblR

Just two key details to note here: 1. Price failed to make a higher high. 2. The candle in the past hour indicates that the 0.7409 "floor" isn't holding. Price did briefly breach below that level and traded higher. We're finally seeing a breakout lower, which is a good sign that the uptrend might be ending.

FinancialGamblR

Since this breakout occurred just before last week's close, I am going to keep an eye on it a bit longer since the open tends to be a bit unpredictable. 1. This is a great fakeout signal. Price attempted to trade lower and then sharply reversed. Not only that, it took out the 1.6988 upper boundary that I had plotted. 2. Price traded back to the breakout level....

FinancialGamblR

I don't directly trade the DXY CFD with my broker, but it is useful to keep an eye on it to provide further direction for major pairs. Here are the key details I've labelled. 1. DXY pushed up to 94.56, which is just a tad higher than the previous high. However, this failed to sustain. It's almost as if this was a false breakout given that the DXY dropped sharply...

FinancialGamblR

1. First time price broke through this key 1.05795 level. What happened after in #2 is also key. 2. Exhaustion here as price failed to make a higher high. 3. I'm once again seeing price threatening to break below this key level. Once it does, we can expect further momentum.

FinancialGamblR

1. 1.15865 has been a key upper level to watch. After price breached this level, we saw that it drifted lower and stalled. Given that this is a reversal from such a massive downtrend, reduce size.

FinancialGamblR Updated 

I've been watching this pair since last week. 1. This is the first indication that the uptrend is topping out. It failed to make a higher high. The reversal sentiment is strengthened by #2. 2. Although this was rather quick, price breaking below the lower boundary range is a good indication that this level isn't being respected. Or, not being respected as...

FinancialGamblR

1. Price crossed above the 1,757 level last week and stabilized. We did see a price drift back below this level and selling momentum did not pick up. 2. This leads to this week's outlook. If price can hold above the 1,757 level, we can expect further upside as price continues with the momentum from last week. I don't anticipate a sharp cross below this level,...

FinancialGamblR

Price made a weak reaction at the 1.4826 level, which failed to produce a new low. I am seeing price attempting to breach higher. By trading in anticipation of this breakout, you can get a slightly better R-multiple. If price pulls back and fails to hold above this level, I can avoid a loss that would occur if I enter after the breakout.

FinancialGamblR

Price tried to trade below 1.2595 and failed to sustain. After ranging for the past couple of hours, the break above 1.26715 indicates further upside potential. To truly see if this upside will sustain, we will need to see if price holds above this level. If it crosses below, the trade can safely be scratched.

FinancialGamblR

Pretty strong conviction here as I'm seeing a false breakout on the daily level. Price traded above the 0.65 level for a day and failed to hold above it. It traded right back below this level with equal strength on the following day. Over on the 4-hour timeframe, the upside is exhausting so I am expecting downside momentum to pick up.

FinancialGamblR

1.03595 is a key level to watch. To be honest, I'm actually not a fan of how price broke above this level. It's not a strong one bar move. I do anticipate that price will temporarily drift back below this level before it really tears to the upside.