TimStuyts

TimStuyts

The short ( 2.221) for GBPNZD took a bit longer to move lower due to the worse than expected NZD CPI data on Tuesday. Nevertheless it is moving lower and I like at least to see a new low to present a possible ideal long term buy. For my previous post and context see below: www.timstuyts.com facebook/timstuyts/

TimStuyts

The short for GBPAUD of last week as posted is moving nicely. Nevertheless I am still looking for that new low for a possible ideal buy opportunity. Have a look at my previous posts for context and why. www.timstuyts.com facebook/timstuyts/

TimStuyts

We had to be patience with this pair but we finally see the start of a correction. Now I will wait for a consolidation and continuation lower for the next opportunity to add to my short. Have a look at my previous posts for context. It was extending higher and there was no entry for me until today. However the approach in terms of where to sell is still the...

TimStuyts

The pound is clearly in an impulsive wave 3 and although I was mainly focused on selling the pound against the AUD and NZD, I will definitely sell GBPUSD after a significant reversal. I believe 1.39 is the next target short but ideally we see a clear reversal from 1.41 zone. I want to see a wave 4 correction towards 1.45-1.46 and then look for a sell for wave...

TimStuyts

The EURUSD took its time but seems finally be able to break higher out of the channel. We are not out of the risk zone yet but we have to accept that in trading otherwise we will be on the sidelines all the time. For my previous post and context see below: Price did exactly what I was looking for and therefore I had to trade my plan. I will manage this trade...

TimStuyts

The GBPNZD is somewhat comparable to the GBPAUD. It is corrective on a higher time frame and in this case I am also looking for a last leg lower. Since I see this bearish move as a correction I also like a corrective wave pattern. 7 is and extension of 3 which is corrective. I'm currently short on this pair for that new low. However once the bearish move is over...

TimStuyts

The GBPAUD made its move lower and broke the structure for the anticipated leg lower. I like to see a new low <2.017 to test my long term target at 2.00 or maybe even 1.98. For context have a look at my previous post My short was based on lower time frames and stop is already at break-even. Manage your trade according to your trade plan. If you are interested...

TimStuyts

We saw the USDCAD test the level I mentioned last week. See link below: At the moment we see another consolidation by means of a Bull flag. A test of the rising non-horizontal trend line followed by a break higher indicates more bullish price action to expect. This is very possible since I expect Oil to test at least 25. The question is whether we see a...

TimStuyts

I responded to another GBPJPY trade set-up last week which brought this pair to my attention. I believe that this pair is almost ready for another leg lower. Today might be slow due to the US banking holiday but that might be just what this pair needs to settle and complete its correction/consolidation. We have a monthly 38.2 Fibonacci level tested during this...

TimStuyts

For my previous post and context see below: I mentioned that I was looking for a move out of the lower 'green zone' around 1.08 (whether this was bullish or bearish was important for the next trade opportunity). The fact that we saw a break above the channel line out of this zone is a good bullish sign. Since price is retesting the upper channel line is an...

TimStuyts

For my previous posts and context see below. I'm looking for that last leg lower before I want to buy GBPAUD long term. We see price testing the upper trend line of the wedge several times. We are also able to spot a bearish harmonic BAT pattern. I only use harmonics for price indication (only BAT). What makes this harmonic relevant for a possible price pattern...

TimStuyts

For my previous post and context why I'm looking for certain bullish targets for the EURUSD see below: In Forex we have a certain market dynamic due to the fundamentals and the players in the market. I won't go into detail that much here but will definitely explain it on my website when launched next month. Nevertheless this results in important levels that...

TimStuyts

I was looking for a correction/consolidation for Gold and we see this correction currently in progress. For my previous post see below: I like to see a bullish break out for a buy opportunity with target the upper non horizontal trend line as shown by means of the green arrow. www.timstuyts.com facebook/timstuyts/

TimStuyts

A week ago, before the impulse higher for the GBPAUD I explained why I favored a last leg lower for the GBPAUD before we see a bullish break out. Have a look at that post for context. If we indeed see that new low for wave 11, we not only have a corrective structure but also an extended corrective wave pattern. When price is closing in on the bottom I will...

TimStuyts

The USDCAD is extending once again and is closing in on the weekly 138.2 Fibonacci ratio based on the weekly AB leg. This might turn into resistance along with psychological level 1.44-1.45. I'm not trying to sell the top due to the impulsive character of the up-move. A reversal from this level however will increase the probability of a successful short after the...

TimStuyts

For my previous post and context see below: We saw the first move up last week and price is currently in a consolidation. I like to see a break out for a buy opportunity. The green and red arrows show my preferred pattern for now but we will see. First thing to watch for is the break. I'm not selling this pair based on current price action, only a break below...

TimStuyts

For my previous post and context see below: In the beginning of next week I'll be looking for a break out for the EURUSD. By means of the Green and Red arrows I tried to show my ideal scenario where we will see a test of the previous high on the 4 chart first after the anticipated break. Don't forget this high is a significant level that came in place after the...

TimStuyts

In my post about the USDCAD on Thursday I already mentioned that my fundamental analysis tells me that we likely see a long term bottom for both Oil and Silver within the next 6 months. This is not the information you might like for trading but it is why I started to look for what technical scenario is likely to unfold. I trade both Oil and Silver only long term...