TheFxAce

TheFxAce

Just a quick update on yesterday's trade idea just were I had identified the 1.40 zone as a good area to look for a SELL setup we got a HUGE spike up towards that area during the US session yesterday often spikes like this into High timeframe levels will give great opportunities to enter a position and that's exactly what we did currently up over 200 pips :) read...

TheFxAce

USDCAD is fast approaching the 1.40 level which is the start of a huge Monthly SUPPLY/SELL zone that is around 700 pips in range so to find a good R/R trade we need to zoom into the weekly charts to see if there is any areas there for possible setups. As you can see marked on the charts there is a nice Weekly SUPPLY/SELL zone starting at 1.40 this is where price...

TheFxAce

We are quickly approaching key areas on the AUDUSD with a huge Monthly DEMAND/BUY zone that was created in 2020 after the flash crash at the start of this zone we also have a untested Weekly DEMAND/BUY zone starting around 0.616 this is where i will look to start buying this pair. I will wait for my indicator to give a BUY signal on daily charts as we enter this...

TheFxAce

Just a quick update on the GBPUUSD SELL trade idea as explained in my 2 previous posts around the 1.14 area was the likely target for sellers to come back in and that I was waiting for a SELL signal from my indicator on the 4hr charts or above. The signal occured just above 1.14 allowing us to get into this position. It has already dropped nearly 300 pips from...

TheFxAce

Looking very likely that a Crown topping pattern is forming on the USDJPY several failed attempts to break and close above 145. Although the Dollar has been dropping the last week after nearly hitting 115 the USDJPY has been moving in a sideways range between 144 and 145 indicating period of distribution which is likely an unwinding of long positions after the...

TheFxAce

Just a quick update on the EURUSD trade that triggered last week we have hit the 1.00 level which was my fist target as explained in the last post so have closed 50% of the position and moved stop loss to entry price. The next target is the previous Monthly support around 1.03 and then the monthly SUPPLY/SELL zone higher up. If you read the related posts you...

TheFxAce

Ok on my last post on the GBPUSD I give you a detailed path on where the market would target which was the 1985 low as stated I thought we would get a correction before hittiing these levels also stating that if we did drop further quickly it would likely happen on the Monday morning. This is exactly what happened last Monday with the huge crash down. In the...

TheFxAce

Just a quick update on the EURUSD BUY trade idea I posted last week were I wrote that I was waiting for my indicator to give me a BUY signal as we entered the 2001 DEMAND/BUY zone you can read the full idea in related ideas below. We can see it spiked down below the area at the beginning of the week likely there was a lot of liquidty under the level and we closed...

TheFxAce

Just a quick update on yesterday's post on what I was looking to happen next on the USDJPY pair as written in the post I was waiting for my indicator to give me a SELL signal on the DAILY chart which has just happened lets see how this plays out.

TheFxAce

So we have retraced nearly all of last Thursday's big drop down only taking a couple of days to retrace back up. Looking at the 4hr charts we can clearly see the markets are moving sideways depending what your bias is you could see this movement as a re-accumulation phase basically a pause in the uptrend before making new highs or.... You could see this as a...

TheFxAce

What an Epic drop on the GBPUSD yesterday just over a 3.5% drop after finally breaking the 1.14 Monthly support dropping pretty quickly down towards the 1985 Monthly Lows after such a move down we should expect a short correction to happen before pushing back down. The best place to position ourself for a SELL is to wait for price to retrace back up towards the...

TheFxAce

We are in times of HIGH volitilty so the best charts to look at and analyze for clear market direction is the Monthly and Weekly charts especially the Monthly as that is were the volitility is and big moves happen. Looking at the EURUSD Monthly chart we can see at the end of July we got the Monthly break and close under the previous LOW/SUPPORT marked on the...

TheFxAce

Today I am posting on the NZDUSD pair getting ready to go LONG on this pair as we can see it's been trending down pretty hard and we have entered a HUGE Monthly DEMAND/BUY Zone which is actually the 2020 crash area this is quite a large zone so soley entering inside this zone based on the Monthly charts is pointless.. We are best locating a Weekly DEMAND/BUY...

TheFxAce

Just a quick update on the CHFJPY SELL position I have been in and posted about you can read the post below I was aiming for the 144 which was the current trends previous high and would be the first easy target when this market dropped as it did today. I've closed 75% of the position and will leave the rest running as this can turn into a nice trade The money is...

TheFxAce

Just a quick update on the USDJPY SELL position last week where I wrote in the post that iit looked like 145 was the level to be wary about Japan intervening in the market as on both occassions price hit this level last week there was strong warnings from Japan, today the market pushed up towards 146 and Japan stepped in to Buy YEN and Sell dollar. You can read...

TheFxAce

Just a quick update on the post I posted yesterday on the DXY intially it went as expected after the news spiked to NEW highs and then quickly retracing back under the 110.750 previous high though with the hawkish tone from the FED we quickly rallied back up to NEW highs and we got the DAILY close above the 110.750 high as I said if this happened expect more...

TheFxAce

The Dollar is on the march again with the FOMC decision and statement today looks like to be pushing for another Yearly high aiming towards the HUGE Monthly SUPPLY/SELL zone that starts at 119 though that's the LONG term target there should likely be a correction before that happens. I had posted a couple of weeks ago about a SELL position 2 weeks ago you can read...

TheFxAce

Just a quick update on my earlier trade idea for today received a SELL signal and have entered the market and will target areas mentioned in previous post Happy trading