Price has been trading in a new uptrend channel. Current price at the top of the range of the channel. Good RR. Short : 1.366 SL : 1.371 TP : 1.332
GBPJPY has broke out of a bullish triangle formation. Expecting follow through of the run up. Resistance turn support area at 139.9-140.5
DXY breakdown. Oil up. Natural pair to short. USDCAD. Shorting it back to swing low near 1.246, which coincides with a long term parallel uptrend.
USDOLLAR Index H&S pattern. Break of uptrend line and backtesting broken trendline-neckline of H&S. Since EURUSD and USDJPY has the most significant weighting in the USDOLLAR index, expecting huge moves on both pairs soon.
Long GBPJPY to 38.2% retracement levels from overall fall from 194.75.
Bearish Elliot 5 Wave structure since Brexit. Impulse Wave 5 to begin, after Wave 4, ends. Short : 1.259 SL : 1.2715 TP : 1.19
End of bull market. -100% extension of fall from 1555 to 740 = 815 points. -1555 + 815 = 2370 (Market top) Ending Elliot Wave 5 of the recent rally. Prediction : 5 wave downtrend (Bear market)
Simple break and retest channel. Short : 0.715 SL : 0.721 TP: 0.669
Simple price action with fibo levels. Long : 0.989 SL : 0.981 TP 1 : 1.036 (Recent swing high) TP 2: 1.071 (38.2% fibo expansion + 2012-2013 highs)
Inverse H&S, on daily/weekly chart Buy, 1174-1200 SL, 1159.2 TP 1, 1380 TP 2, Open
Elliot wave + Fibo retracement levels Elliot wave 5 could possibly have end with the "flash crash of the GBP" Looking for a 50% retracement of the down move to 1.34 level, which coincides with a long term downtrend stretching from 2014. Trade Idea : Long GBPUSD @1.238 SL : 1.2285 TP : Open, targeting 1.34, (May TP if bearish TA or fundamentals kick in)
With the ECB set to start tapering their Quantitative Easing next year, it could mimic the reaction that the dollar went through, when the Fed signal that they were about to tapper. Current price action is also similar to what this pair went through from 2000-2002. FED (Quantitative Easing) > BOJ (Quantitative Easing) > ECB (Quantitative Easing) By the above...
Gold has been on a uptrend since the early 2000s, due to excessive loose monetary policies by the world central banks. After each crisis, the solution was to do more of the same thing. Looser monetary policy, and we have even ventured into Quantitative Easing, negative interest rates. This to me is akin to giving a patient pain killers. I see a time of reckoning...
Current price action retesting broken triangle support line at 1.448 - 1.453 Macro favours a short position as well, as the RBA looks increasing likely to end its easing cycle, while the ECB mulls additional stimulus in its Dec meet. Height of triangle : Approx. 1,700 pips Trade Idea: Short : 1.45-1.453 SL : 1.463 First TP target, 1.37-1.38 (1/2 of...