richard.shoemake

richard.shoemake Updated 

Folks, I believe we are seeing a change in trend on the hourly chart. The USDJPY is finding support above the 20MVA having just failed to break through the top of the support of the most recent low. This often indicated a powerful rally is coming, and in fact we see support on the other timeframes as well at key moving averages. I've closed all my shorts, and...

richard.shoemake

Looks like we are finally seeing a real change in trend in oil.

richard.shoemake

Looks like the fake rally is ending. I suspect that we'll see a larger down move than what we saw a few days ago.

richard.shoemake

Oil set to sky rocket due to long term expanding wedge pattern

richard.shoemake

DOW on it's way down folks. At least 15,500, but very possibly way further than that.

richard.shoemake

Depending on your time frame you'll want to go either long or short. Short will be good for a short term trade, but longer term I think a Long position would be best.

richard.shoemake

It looks like the dollar is headed for a dead cat bounce which may well take the USDJPY at least down to about 106.00 . It's coming sometime in September IMHO.

richard.shoemake

I see a short term decline in the USDJPY followed by a rally in USDJPY until potentially November 11th or so. Then I see a sharp decline. I would have opted for a sharped decline down to 105.00 sooner rather than later if not for the strong dollar trend right now.

richard.shoemake

Based on the Descending Broadening Wedge patterns shown here I am very bullish now long term.

richard.shoemake

Looking for it to go down to about 78.49 or more.

richard.shoemake

Got a long way to go down base on Fischer transform.

richard.shoemake

Check thepatternsite.com for description on expanding wedges.

richard.shoemake

Using pattern analysis with special emphasis on expanding wedges one can see that we have a high probability of a steep decline in the USD as compared to the GBP in the not too distant future. This knowledge can help us determine the breakout direction at smaller time frames as well. You'll see about a 4000 pip move in the GBPUSD over the next year or so.

richard.shoemake

Using pattern analysis with special emphasis on expanding wedges one can see that we have a high probability of a steep decline in the USD as compared to the GBP in the not too distant future. This knowledge can help us determine the breakout direction at smaller time frames as well. You'll see about a 4000 pip move in the GBPUSD over the next year or so.