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  • #341
  • May 29, 2017 2:22am May 29, 2017 2:22am
Alternative technical biases on EURGBP:

Long-term: northwards, particularly if price action breaks above the 0.93070 area
Short-term: sideways operation/retracement to around the 0.86720 area.

I may be wrong. Trade safe and prosper.

KP


Quoting KeenPips
Here's a weekly technical outlook on EURGBP. The pair has been mainly on an upward move since October 2015. On the weekly time frame, after a 32.8 Fib retracement of the swing from the low of October 2015 to the high of October 2016, price action entered a period of consolidation (indicated in the khaki coloured rectangle) and an ascending trendline from the low of October 2015 respected. Price action in the last two weeks saw the bulls in control, indicated by relatively big bullish candlesticks. As the price action last week was near the immediate...
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  • #342
  • May 29, 2017 3:25am May 29, 2017 3:25am
If you are tracking the EURUSD, you will do well to wait for a pullback to the immediate resistance around 1.13058 area to go for a sell trade. That area was last visited in November 2016 and a significant flattening formation has taken place there last week. If the pullback to the zone results in a rejection candle on the H1 or H4 time frame, that is likely to signify a southward move towards at least the next support around the 1.11234 area

I may be wrong. Trade safe and prosper.

KP

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  • #343
  • Jun 4, 2017 4:19pm Jun 4, 2017 4:19pm
If you are tracking the EURGBP for trading opportunity this week, consider this technical perspective.

The pair has been operating in a range for much of 2017. On the weekly time frame, price action moved from the lower part of the range in the second week of May and has pushed northward to the distal area of the range. Price action is now at a key resistance area and any break of the zone to the upside is likely to target the 0.88445 area, which was last visited in mid-January 2017. On the H4 time frame, price action is respecting an ascending trendline (in magenta colour). However, as the price action is around a resistance zone, a rejection of the zone southward may lead to a retest of the trendline and target the 0.86995 area, the origin of the most recent upward push. This scenario appears much likely to occur as price action has found it difficult to move much farther from the last two recent highs.

I may be wrong. Trade safe and prosper.

KP

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  • #344
  • Jun 4, 2017 4:24pm Jun 4, 2017 4:24pm
Alternative technical biases:

Long-term: Northward, particularly should price action break above 0.88445

Short-term: Southward, with a retracement to the 0.86995 area


KP


Quoting KeenPips
If you are tracking the EURGBP for trading opportunity this week, consider this technical perspective. The pair has been operating in a range for much of 2017. On the weekly time frame, price action moved from the lower part of the range in the second week of May and has pushed northward to the distal area of the range. Price action is now at a key resistance area and any break of the zone to the upside is likely to target the 0.88445 area, which was last visited in mid-January 2017. On the H4 time frame, price action is respecting an ascending...
Do your homework, follow the footprints of smart money
  • #345
  • Jun 11, 2017 4:32pm Jun 11, 2017 4:32pm
Would you like to trade GBPNZD this week? Here's a technical perspective you may wish to consider.

On the H4 time frame, price action since mid-May produced one descending price wave and then went into a consolidation and ranging pattern for much of late May and early June, apparently in anticipation of the British election. This was followed by a strong bearish drop last week Thursday (British election shockwave), from an area (around 1.79075) which had served as a strong demand zone on April 18, 2017. We should expect price action to retest this zone in the coming days. The most recent price action on the H4 time frame was a bullish move which may be a corrective one as price action has moved too far from the mean value.

I may be wrong. Trade safe and prosper.

KP

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  • #346
  • Jun 14, 2017 10:38am Jun 14, 2017 10:38am
I have been asked by some traders which indicators I use and whether or not I am a price action trader. I am a semi-price action trader; using a few indicators to trade price reaction levels such as S/R, pivots, Fibonacci retracement zones and trendline breaks/bounce.

The main indicators I use are MAs and RSI but I don't use the RSI in a conventional way. I use it once a week for directional purpose during my weekly technical analysis and screening, not for overbought/oversold considerations. As for MAs, it doesn't matter which you choose, only know how and why you use them and how they fit into your trading style and strategies.

Trade safe and prosper.

KP
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  • #347
  • Edited 4:41pm Jun 18, 2017 3:58pm | Edited 4:41pm
Are you tracking the EURAUD this week? Here's a technical perspective to consider.

The pair continued the decline started at the beginning of June. Three weeks ago, price action moved towards the resistance zone around the 1.52878 area but was pushed back. On the weekly time frame, the previous two weeks witnessed a strong bearish move. Last week the bearish move hit the immediate support zone around the 1.47088 area but could not breach it.

On the H4 time frame, price action formed one declining price wave which culminated in a sideway move before a second declining price wave was begun on June 14. This move is still in play but the momentum has stalled; this can be seen from the sideways operation of the most recent price action on the H4 time frame. We may expect a pullback to the northside before the bearish move continues. This pullback may validate the descending trendline (magenta colour) or re-test the minor resistance zone between 1. 48731 and 1.48215.


I may be wrong. Trade safe and prosper.

KP

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  • #348
  • Jun 18, 2017 4:41pm Jun 18, 2017 4:41pm
If you are tracking GBPAUD this week, consider this technical perspective.

On the H4 time frame, sellers attempted to take control of price action through three price waves to the downside since the beginning of June but the ride southwards has not been smooth; there has been a lot of buyers’ resistance resulting in a series of sideway moves, consolidation and range trading. The most recent price action last week fell within a 137-pip range (in Khaki coloured rectangle). Should the price action break out of the range southwards, the initial target will be the immediate resistance around 1.66570, which may expose the 1.64804 handle. This is a more likely scenario given the technical bias on the weekly time frame. However, an alternative scenario, albeit temporary in nature, will be for price action to move northwards towards the distal part of the the range; perhaps to retest the 1.68392 area before heading southwards.

I may be wrong. Trade safe and prosper.

KP

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  • #349
  • Jun 20, 2017 4:30am Jun 20, 2017 4:30am
Quoting KeenPips
....The most recent price action last week fell within a 137-pip range (in Khaki coloured rectangle). Should the price action break out of the range southwards, the initial target will be the immediate resistance around 1.66570, which may expose the 1.64804 handle. This is a more likely scenario given the technical bias on the weekly time frame. However, an alternative scenario, albeit temporary in nature, will be for price action to move northwards towards the distal part of the the range; perhaps to retest the 1.68392 area before heading southwards....
Here's an update on the GBPAUD. The pair has rejected the distal area of the range and has moved southwards for over 190 pips.

Trade safe and prosper.

KP

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  • #350
  • Jun 25, 2017 3:29pm Jun 25, 2017 3:29pm
If you are tracking GBPNZD this week, consider the following technical perspective.

On the H4 time frame, price action has carved out a descending channel or a floating channel (in purple coour). The most recent price action has been sideways near the resistance trendline of the channel but the candlesticks have been relatively small, an indication of market indecision. A break of the channel to the upside is likely to target the 1.75790 area; which may expose the 1.77620 area, the origin of the descending channel. From a technical perspective, a retracement towards at least the 1.75790 area is a more likely scenario given the fact that price is currently further from the mean value area. The alternative scenario is for price action to break below the current area of consolidation around 1.74325 and continue southward to target the 1.71805 area, the origin of the rally upward on March 2, 2017. For this to happen, however, price action will have to contend with the barrier around the 1.7417 area.

In summary, the technical outlook favours sellers in the medium to longer term.

I may be wrong. Trade safe and prosper.

KP

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  • #351
  • Jun 29, 2017 5:42am Jun 29, 2017 5:42am
Just a thought

If you want to trap a market, don't just jump into a moving market. Study the market and analyse it first. Jumping into a market you were not prepared for or had not analysed, just because of a sudden price movement, could be dangerous.

Trade safe and prosper.

KP
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  • #352
  • Jul 2, 2017 4:10pm Jul 2, 2017 4:10pm
If you are tracking GBPCAD this week, you may benefit from this techical perspective.

On the H4 time frame, price action has been largely in consolidation/sideways mode and in a channel (Khaki coloured rectangle) for the most part of June. Presently, price action is in the middle of the channel, somewhat a noman’s land, but the last sessions on Friday saw the buyers getting more influential in the market. Should buyers take price action to the distal part of the channel, perhaps targeting the 1.69750 area, this is likely to present a good sell trading opportunity. Given the technical disposition on the weekly time frame, a sell trading opportunity is more feasible than a buy trading opportunity. A break of the channel southward is likely to initially target the 1.67224 area; this may expose the 1.66367 area, the base of the April 17, 2017 rally.

I may be wrong. Trade safe and prosper.

KP

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  • #353
  • Jul 2, 2017 4:41pm Jul 2, 2017 4:41pm
From a purely technical perspective, it will be far rewarding to wait for price action to retrace to the distal part of the channel on the H4 time frame before taking a sell trade. However, should present price action move to the proximal part of the channel and break out of it, waiting for a retest of the support line now turned resistance before looking for a sell trade is the way to go.

I may be wrong. Trade safe and prosper.

KP


Quoting KeenPips
If you are tracking GBPCAD this week, you may benefit from this techical perspective. On the H4 time frame, price action has been largely in consolidation/sideways mode and in a channel (Khaki coloured rectangle) for the most part of June. Presently, price action is in the middle of the channel, somewhat a nomans land, but the last sessions on Friday saw the buyers getting more influential in the market. Should buyers take price action to the distal part of the channel, perhaps targeting the 1.69750 area, this is likely to present a good sell trading...
Do your homework, follow the footprints of smart money
  • #354
  • Jul 5, 2017 3:13am Jul 5, 2017 3:13am
You may find it useful to add structure-based trading to your strategy. Here's a video you may benefit from.

Trade safe and prosper.

KP

Inserted Video
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  • #355
  • Jul 5, 2017 2:51pm Jul 5, 2017 2:51pm
The EURUSD is in a consolidation mode, but the technical disposition overall is southwards. However, price action is at the distal part of the range. If the current move up sees price action retesting the immediate resistance at the 1.1480 area, it may expose the 1.1650 handle.

Trade safe and prosper.

KP

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  • #356
  • Jul 9, 2017 3:53pm Jul 9, 2017 3:53pm
If you are tracking the EURGBP this week, consider the following technical perspective.

On the H4 time frame, price action has been operating in a horizontal channel or range (bound by magenta-coloured horizontal lines) for much of June and it is presently at the distal part of the range. Although the last sessions on Friday led to a bearish candlestick, the order flow was under the control of buyers. If buyers are able to move price higher in the channel it may target around 0.88750, an overshot area in the channel. This may be followed by a pullback towards a mean value area before any further momentum to the upside can be expected. However, should price action fail to breach the channel to the upside, a southward move to retest support can be expected with an initial target being around the 0.87935 area; which is the origin of the most recent rally.

I may be wrong. Trade safe and prosper.

KP

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  • #357
  • Jul 9, 2017 4:28pm Jul 9, 2017 4:28pm
Here's a top-down technical outlook you may consider to help you track and track the EURJPY this week.

On the daily time frame, price action is respecting an ascending channel (navy blue) formed by the support trendline from the low of April and the high of May. The most recent price action has moved distally towards the resistance trendline with a fair amount of momentum behind it and is around the 61.8 Fib zone of the drop from the high of June 2015 to the low of June 2016. As noted earlier, this move is likely to contend with a barrier around 131.100/131.133 before it gets to a natural target of the immediate minor resistance around the 132.120 area. By that time, price may be too far from the mean value area and a pullback to retest the support trendline may be initiated. However, should price action fail to pullback, the target is likely to be the major resistance zone around the 133.850 area, whch could offer a good opportunity for sellers to move price action southwards. That area will represent 76.4 Fib of the drop from the high of June 2015 to the low of June 2016 and could be seen as a technically natural area of overbought or extension, which is amenable to a turnaround of price action.

Attached Image (click to enlarge)
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On the H4 time frame, price action has moved upwards from a major support trendline (navy colour), and within the ascending channel seen on the daily time frame, to respect an inner support/ascending trendline (magenta colour). The order flow context favours buyers. A flag pattern has formed (bound in saddle brown-coloured lines) which portends a bullish continuation, particularly should price action break out of the flag distally. Nevertheless, a retest of the inner trendline (magenta colour) is still possible; this may extend to target the immediate horizontal support around the 127.200 area, near the base of the origin of the flag.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Top-Down_Analysis_H4_July_9,_2017.png Size: 47 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #358
  • Jul 16, 2017 3:29pm Jul 16, 2017 3:29pm
If you are tracking EURUSD during the week, you may consider the following technical perspective.

The pair has been largely north-bound for a relatively long period of time, although price action on a multi-year level has been within a defined range. Recent price action is at the distal part of the range. On the weekly time frame, the hammer-like candlestick formed two weeks ago was followed up by a bullish candlestick last week but the move lacked significant momentum as it was hindered by sellers who, towards the end of the session, pushed price southwards.

On the H4 time frame, price action has broken out distally from the channel (bound by two magenta-coloured horizontal lines) it formed a few weeks ago. However, we may expect another move southward to test the proximal part of the channel before momentum for a bullish operation can be assured. Alternatively, we may see price action move upward within a floating ascending channel (bound in chocolate coloured lines) formed by the support trendline from the low of June 23 and a resistance trendline from the high of July 7. This could happen if the hammer-like candlestick formed a session before the last H4 session on Friday is respected by price action. However, such a move is likely to be limited as the technicals are not in sync for a bullish momentum yet. A more sustainable operation is likely to be a short northward move followed by a southward turn-around to retest the support line of the horizontal channel (lower magenta-coloured line) around the 1.13290 area. This is likely to be medium-term in nature.


I may be wrong. Trade safe and prosper.

KP

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  • #359
  • Jul 16, 2017 3:48pm Jul 16, 2017 3:48pm
You may consider this technical outlook if you are tracking cable this week.

The pair has been in a consolidating mode since November 2016. Between November 2016 and March 2017 price action consolidated between 1.19890 and 1.26650. It then moved upwards for another phase of consolidation between 1.26650 and 1.30720.

On the daily time frame, price action is operating distally in a clear ascending channel and the order flow context is strongly in favour of buyers. Furthermore, the technicals are in sync for further northward move. A likely target for such a move is the 1.32840 area, which is the origin of a big drop for the selling that began in September 2016.

On the H4 time frame, recent price action is parabolic in nature and is susceptible to retracement to an area of value. A likely area to watch will be the 30/61.8 Fib zone of the most recent swing high. This is shown in the khaki coloured rectangle, between 1.29143 and 1.30196.

I may be wrong. Trade safe and prosper.

KP

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  • #360
  • Jul 16, 2017 4:11pm Jul 16, 2017 4:11pm
Here's why you may consider trading USDCAD southwards this week.

On the weeky time frame,since May 2017, price action has been under the control of sellers. Presently, price action is within an S/R area and may target 1.22310. The technicals on the weekly time frame seem to support further southward move before any bullish operation can be expected, moreso as a consolidation pattern has formed between the 1.22310 area and the 1.37050 area.

On the H4 time frame, price action is respecting an inner descending trendline (magenta colour) from June 2017 after moving below an outer descending trendline (navy colour). The most recent price action was a strong bearish move after a period of consolidation. Sellers may be able to sell further southward before buyers are attracted. Thus, a retracement may not be immediate. Any retracement, however, is likely to be in an area of value, much likely leading to a retest of the inner descending trendline.

I may be wrong. Trade safe and prosper.

KP

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