FractalEyeZ

FractalEyeZ Updated 

Good morning GBP/NZD, time to rise and shine :) My case for a strong bullish reversal on this Extremely Valuable Pair {EVP} is due to the fact that: (1) It has completed a multi-month Harmonic Wave Formation and (2) the GBP/NZD is positively correlated with FX:AUDNZD and that pair is trending very aggressively into a multi-year bullish uptrend due to both...

FractalEyeZ

Just waiting for price to complete a Fibonacci retracement [back inside the 33%-38% Purple Zone ] before adding additional Buy positions. There is horizontal Support around 0.7360 so from there we look to hop back aboard the fast moving train and follow the "current" path of least resistance :) The next major train station is near the 0.77740 price area (the...

FractalEyeZ Updated 

Looks like the Bulls are out to play. A push above the neckline suggests an 840+ pip Bull run. I expect to see more strength in the Pound against the USD and NZD in particular but markets are very shaky right now. Keep in mind while FX:GBPUSD and FX:GBPNZD look bullish, FX:GBPCAD and FX:GBPAUD look much more bearish from a long-term perspective.

FractalEyeZ

Another super awesome 'trade of the ages' on this SVP {Super Valuable Pair}! Another Super Valuable Pair similar to this one with identical price behavior is the FX:AUDCAD . Remember the NZD/CAD trades opposite to this one due to the negative correlation. I've been waiting forever for this Inverse Head & Shoulders to complete and lift-off and the party has now...

FractalEyeZ

Is that a rhetorical question? ;) Even if price retraces to the downside in the near term, I am a Bull over the long-term plus it looks like a bullish Inverse H&S formation which are extremely powerful and reliable even before breaking the neckline as you can clearly see the increasing momentum. If you trade the Kiwi/CAD then for the long-term look for the exact...

FractalEyeZ

Looking for USD/CAD to complete a 33%-50% Fibo retracement on the Weekly chart to create a new Fractal Swing High Structure point to continue back into the bearish downtrend. The strength is still with the Bears so once the pullback rally completes look for a good entry on the Daily or 4-Hour chart to go short. The trend channel will be gradually adjusted over...

FractalEyeZ

Update: Friday March 21st, 2014 Side Note: What I didn't see before in my observation, I see clearly now. I did not realize that alongside the bearish divergence, price action formed a double top pattern with two upper Fractal Candles. So maybe I need to listen to what Pro Trader Oscar Carboni of Las Vegas always says, "If you see a double top...sell a double...