Bearish flag on the 4hr chart.. Sell the BO.
Nice bearish Bat setup on the GBPCHF 4hr chart. I like to wait for a retest of the entry price for Bats (as supposed to a butterfly pattern that just collapses...) and it looks like we're getting there. Divergence on both the RSI & Stock with price... In the big picture, this pair has broken through strong weekly support and has been trying to retest that...
market overreacted to some negative US data this morning. I am bullish on the USD going into the next Q, so this is a prime opportunity to go long with a rejection off the ascending trendline.
I am doing the unthinkable, shorting Yen. This trade is not so much focused around strength of the AUD as it is weakness in the Yen and price action. I am a USD bull going into the next Q of 2016 and, as the BOJ have found out, the only thing that will weaken the Yen in the long run is USD strength or "helicopter money". Also, the market didn't even bat an eye...
For all of you harmonic aficionados out there, a nice bullish crab setup on the GBPAUD 4hr chart. I know, I know, going long on GBP is risky, but we're looking at pure price action for this trade. Price is heading into that strong weekly resistance zone and I would wait until the BCD level (if you need an explanation, you're not a harmonic aficionado and you'll...