This is an interesting spot for USDJPY. Most analysis I've seen over the past three months are in favor of a much stronger Dollar vs the Yen. I was SHORT early in 2016 from $118 looking for $110 before looking to go LONG all the way up to $121 for new and final 2017 high in USDJPY. As time passes it looks like USDJPY may have topped out at$118.50. Structurally...
Putting this out here now. Will revisit with more analysis, if entry price is reached, and explain why I believe GBP could be at an important inflection point.
Oil is starting to look constructive for an upside break with continuation to $60. Although.. I believe we revisit the 30's in late 2017.
The average MAJOR declines from a top, since 1994, in USDJPY are 31% in 27 months. USDJPY is currently down around 21%. The average would take us down to $86 in September 2017 - a year from now. The interesting thing is what happens after a +20% decline. The following bounce-average is 13%. That would mean from $100, USDJPY could go as high as $113 in the coming months.
Looking to scale into a long EURNZD long for a possible 800 pip move higher.
Buying AUD, at market, against EUR for a potential 400 pip move lower.
AUDNZD looking like late 2014-2015. Meaning we could se parity before a massive turn coming. I'm going to keep an eye on this and be a buyer at 1.00000
We might be looking at a possible reversal point in DAX right now. If 10,800 is breached, the reversal is invalidated for now.
79 has proven to be an important resistance level. RSI showing momentum divergence at this point.
Shorting Dow Jones at market targeting 400 points lower. Daily chart is strong but overbought. Weekly is also highly overbought, so the Daily and Weekly shorts are lining up at this moment if price move down from here. Support zone should be bought if we get down there.
Long at market. Alternative scenario, if price triggers a stop, is a move down to the underside of the channel.
Shorting DAX at market (or place an entry at 10,450 with a 50 pip stop) for a swing down to new lows. This trade could take a while to get traction and could easily get stopped out. Hence the 50 pip stop.
This is not a "sell signal" for the stock market, but it has been something to keep an eye on in the recent year. Especially when Apple gaps down from recent highs (as in mid July 2015 and mid November 2015). This gap down could be an early indication of whats to come for the US stock market (SPX500 blue line). Structurally Apple looks bearish at this point.
One reason to be long oil throughout 2016. These types of "events" will always differ from each other when looking at time, price and volatility. But the main thing to keep an eye on is structure. Although this is purely speculative it is interesting nevertheless to see how the similarities in structure caught on as early as late 2014. Fundamentally it's...
Swing short in the S&P down to the .382 retracement from the major low. Trade will be invalidated if the highs are broken this week.
Long position at market (or wait for price to come down before initiating a long position) with the uptrend. Stops below the recent swing low. In this type of environment there's no point in chasing. Go long, go short on good risk/reward setups.
Shorting German DAX at market (or wait for a bounce for better R/R) on the trend line break and retest. First initial target would be the recent low.