IkanBilisCapital

IkanBilisCapital

We are still in that wave 4 consolidation for the EURUSD and this level looks like a good long for me. I will be trying to ride the wave all the way up to 1.15 but will bail if price moves again me. Bias is still towards the downside for the last and eventual wave 5.

IkanBilisCapital

The dollar cad is perfect for a short right now. It looks like the upper range of the wave 4. However expect choppiness, this move down will not be easy. I'm looking enter a short at around 1.26

IkanBilisCapital

Our short targets are met this week. We will exit our trade and start to look for a long. Totally expect price to move down to 152.3 and consolidate for a bit there while the markets wait for some clarity on the climate.

IkanBilisCapital

There will be more downside coming for the dollar yen in the coming weeks and I expect price to get some support and start consolidating around the 112.8 levels. All eyes are on the fed's meeting next week. Their stance will determine the next course of action from there. If you are not in the short , you can wait for a pullback and a quick scalp down to the 112.8.

IkanBilisCapital

All eyes are on the fed's meeting next week. If they mention anything about increasing interest rates at a faster pace or with higher frequency, the market will get more jittery. My guess is this hawkish bear stance is almost coming to an end and the risk on will pamp once the interest rates hikes actually kick in. For now I'm bullish on the dollar, it should see...

IkanBilisCapital

There's deleveraging across the board for all risk on. I expect to see more downside in the coming weeks until the FED meeting next week. If you are not already in the sell you can enter at any pullback which can happen at around 0.713 and 0.7076

IkanBilisCapital

BTC has been trading in this range for more than a year now. It is still looking for that final wave 5 impulse move. However, the wave 4 correction is not complete and breaking down from here opens up the possibility of going down to 30K where it will find strong support. If you're in too deep, you should unwind you positions to a comfortable as we start to move...

IkanBilisCapital

Is the wave 4 correction complete for the EURUSD? Price looks like it's going to break downwards from here and could very well do so. However, let's wait for some kind of a pull back before going in for a short and know that this pull back can break the top at 1.15 before breaking down. If you'd like to go in for a short here placing a SL at 1.17 will be safe...

IkanBilisCapital

The dollar cad broke down farther as we predicted last week. Price has since seen a retrace and we will be camping out for a next short. This short will be messy and we will take short scalping moves as the price action is in a wave 4 correction, looking for the final wave 5 down.

IkanBilisCapital

The pound yen is good for a long on the pullback as long as the price does not break 155.4. We will hold this long trade until the top of the channel at around 157. From there, we will wait and see what happens. It could pull back to retest the bottom of the channel and breakdown from there or break upwards from here. It is highly dependant on whether the macros...

IkanBilisCapital

Is wave 5 complete and more downside to come for the USDJPY. We think this is unclear at this point of time and we should be seeing some kind of choppy wave action at these levels with a bias to the downside. If you want to trade the dollar yen, go for quick scalping trades with a bias towards shorting the top of the range. BEAR CASE If you manage to enter for...

IkanBilisCapital

The DXY broke back down into the channel and is now testing the middle band of the channel. This should be the end of the wave 4 correction and we should see more upside to come for the dollar index. We should see some choppiness in the coming weeks before a break up farther to break the top and for the final wave 5. This final wave should hit the 99 price...

IkanBilisCapital

A major decision node is coming for the price action. Are we going to see a reversal for the aussie dollar as it approaches the bottom of the band it's been trading in since December? Let's see it test the bottom of the channel and see if there's a breakdown or a reversal. BULL CASE Price goes back up after testing the bottom of the channel. We've a slight bias...

IkanBilisCapital

Anyone else selling??? Onchain analysis tells us that retail is done selling but they are not buying at these levels either. Does this mean upside or downside? All in all the cycle is not complete for BTC, this is merely a consolidation in the larger scheme of things, I expect to see risk on rise again when the fed is done tapering. This will be one last move up...

IkanBilisCapital

This range trading will not last, it will eventually have to break up either to the upside or downside. When the fakeout happens, we want to enter on the opposite side of the trade. I have identified 1.15 for a short and 1.115 for a long for swing traders. If you are a scalper, trade the range and breakout and exit quickly. Do not hold your trades for too long,...

IkanBilisCapital

The dollar ad has reversed much of the gains it made in Q4 2021 and we expect to see more pain for the pair come in the coming months. We are good for a measured short after some consolidation when the markets open next week.

IkanBilisCapital

The pound yen is approaching an important level, are we going to see a break out of the range or rejection from the 160 level? I'd would take a measured long at around the 156 level to ride to 160. I think price will definitely consolidate at/near the 160 level and we will take a wait and see approach by then. I think we will unlikely see a 17, 18 kinda...

IkanBilisCapital

An overdue dip is looming for the dollar yen. Is this the point where we see some kind of correction downwards or do we have to endure another dump to the downside before this can happen? I think if the price structure breaks down from here, we should see some support at around 113. I don't think this structure is complete for a complete reversal. There's still a...