haronbg

haronbg

Is this double bottom. Maybe. Why maybe? We nee a break of the highs. Would I enter at current price. No. Why? Why to enter in no mans land. Remember going long at demand and selling at supply. What am I expecting? We might get relief rally due to Brestay vote. How will I trade? The prevailing trend is bearish, due to failed BOJ and FED monetary policy. If the...

haronbg

So another positive poll data from GB, majors flying. what to do? I picked up kiwi because the chart is not that messy. Here is easy. Red sell,green buy. Not buying in red and not selling in green. Patients is the virtue, Protect your capital.

haronbg Updated 

Gold rallied unexpectedly on Thursday, while all majors were retracing. Many traders might see the H&S and are very bearish biased Gold, but I want to warn you. In my experience and according to some sources on the Internet, this is not genuine pattern. Why? The neck line of the right shoulder is lower than the one on the left. You might take into te account the...

haronbg

As you know maybe already I trade both technical and "fundamentals". By fundamentals i understand, what the paid media is telling me coupled with logical bias. If I do not understand something I just stay aside. I picked this chart for no particular reason, due to the fact the you exhibit the same chart structure on the charts. In the last two days we had...

haronbg

BOJ again did not surprised the markets, muhahahahahha. I am not sure what BOJ can do to weaken the yen, maybe starts buy house hold debt!!!!! Anyways, target 100.50sh. Obvious pivot area and 50% fib from the lows. I did not want to mess the charts with the colorful fib tool. Wait fro retracement in the coming hours and have your positions protected before the...

haronbg

here is a comparison between gold and u/j. Blue line is gold the the bar charts is u/j. Petty that I cannot flip one of the charts so that it can be visible how correlated are both. Of course nothing is exact in trading so very often both are diverging "slightly" on the daily TF. If we forget about divergences and all sorts of EMAs look at the last obvious bottom...

haronbg

Market took profits and done for the week. I hope nothing big will happen today! All the majors topped or bottomed for the time being. As my stance continue to be bearish USD I am looking for place to go long against USD. Euro retraced a bit stronger than I wished for. Still the price is above the 20 Daily, and there very nice trend line formed. Scan we discard...

haronbg

RBNZ is out in it's statement they said: blah blah blah global growth appears to have stabilized , blah blah blah modest recovery in commodity prices, blah blah blah global economy remains weak and downside risks remain, blah blah Domestic activity continues to be supported by strong net immigration, construction, tourism blah blah We expect inflation to...

haronbg Updated 

I am bullish gold: broke multi year channel; inflow in gold ETFs; yen is strong against USD; FED is late and oversold the idea of raising rates. Anything can happen tomorrow. How to play gold. Today at writing this note gold is in tight range. As long as 1238 is not breached the bullish short term momentum is at play. 1260 level might present stronger resistance...

haronbg Updated 

I would wait the price to retrace down to 0.73 to initiate long trade

haronbg

Long the Euro, but with patients. for short term play 1.13200 should not be breached. There is a good chance that 1.13500 will be taken out. The idea is to bring the price to a level with a lot of orders and then to move the pair back north. So sit tight and until 10 am. central time enjoy the chop. Or if you have a day job you can enter now stop about 10 pips...

haronbg Updated 

I am bearish biased towards USD. So I will be shorting USD against all majors until the 23 of June. Since the price is und the 20 daily emai hence the blue line I am shoring at supply areas. And the price is at one in the very moment

haronbg

Gbp will trade in the range until the 23rd and it will be prone to volatile moves on any poll data out of UK. Thant does not mean that you cannot position your self into the direction you believe GBP will head, hence if you are foreseeing brexit then you should short at supply and opposite for long play. I would be watching the present demand area for bullish...

haronbg Updated 

The Canadian fundamentals are still bearish. Oil is in the drain, as long as Oil stays under 33 we still have bullish case for this pair. We have to be careful of too bearishness in the market. Puts for Oil have surged to all time highs. What and how to trade? We have to be aware of FOMC on Wednesday. Id FED hints that they have made a mistake USD will tank and...