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  • #441
  • Nov 26, 2017 2:12pm Nov 26, 2017 2:12pm
If you are tracking EURNZD this week, you may consider the following technical perspective.

The EURNZD is disposed northward from a technical perspective.

On the daily time frame, price action is operating in a wedge-like channel (bound by two red lines). The most recent price action is proximal to a horizontal resistance zone around the 1.73890 area. Recent price action saw bears pushed price back. Should the bears succeed with a follow-through, we may see a period of consolidation or pullback in the early part of this week before further northward push. A pullback to the 50/61.8 Fib zone of the most recent swing high should be of interest for a buy trading opportunity. This area lies between 1.70580 and 1.68800.

On the H4 time frame, price action is respecting a support trendline (magenta colour). However, neither the bulls nor the bears are in dominance. As price action is proximal to a horizontal resistance, bears may attempt to push price back towards an area of equilibrium, likely below the support trendline (magenta colour). This area is in the 23.6/38.2 Fib zone of the most recent swing high, lying between 1.72300 and 1.71160. Such a move is likely to offer a sell trading opportunity but lingering in such a trade should be avoided as the bigger technical outlook favours the bulls.

I may be wrong. Trade safe and prosper.

KP
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Top-Down_Analysis_H4_26th_Nov.,_2017.png Size: 51 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Top-Down_Analysis_D1_26th_Nov.,_2017.png Size: 54 KB
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  • #442
  • Nov 26, 2017 2:47pm Nov 26, 2017 2:47pm
It may be feasible to look to trading this pair southward from a break of the support trendline (magenta colour) on the H4 time frame. However, this should be an interim trade. For me, the big opportunity is likely to come from a buy setup upon a retracement to the 50/61.8 Fib zone of the most recent swing high. This area lies between 1.70580 and 1.68800. Should a set-up in this area not materialize, I will step aside and wait for what happens around the 78.6 Fib zone, near the 1.67935 area; which is proximal to the monthly central pivot.

I may be wrong. Trade safe and prosper.

KP

Quoting KeenPips
If you are tracking EURNZD this week, you may consider the following technical perspective. The EURNZD is disposed northward from a technical perspective. On the daily time frame, price action is operating in a wedge-like channel (bound by two red lines). The most recent price action is proximal to a horizontal resistance zone around the 1.73890 area. Recent price action saw bears pushed price back. Should the bears succeed with a follow-through, we may see a period of consolidation or pullback in the early part of this week before further northward...
Do your homework, follow the footprints of smart money
  • #443
  • Nov 28, 2017 6:41am Nov 28, 2017 6:41am
If you look to succeed in slow, ranging days like these focus on the big picture. Patience will pay great dividend when you allow price action to meet the conditions you identified from a top-down analysis.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #444
  • Nov 28, 2017 6:59am Nov 28, 2017 6:59am
Impatience to wait for price action to meet your identified conditions or to get within your predetermined boundaries often lead to trading poor setups or chasing price action. If your conditions are not met, stay on the sidelines. There are good trading opportunities in days and weeks to come.

Trade safe and prosper.

KP

Quoting KeenPips
If you look to succeed in slow, ranging days like these focus on the big picture. Patience will pay great dividend when you allow price action to meet the conditions you identified from a top-down analysis. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #445
  • Dec 1, 2017 1:53am Dec 1, 2017 1:53am
If you are tempted to trade EURUSD southward because of a low time frame signal, e.g. a double top on M30 tf, check yourself. Imho, EURUSD still has a disposition northward if you look at a higher time frame, e.g D1. You may be looking at the 1.20060 area before a turnaround can be considered.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #446
  • Dec 1, 2017 10:15am Dec 1, 2017 10:15am
I still see room for a northward move of this pair although there has been retracement southward recently. An ascending trendline on the D1 time frame is still holding. However, we may expect a turnaround southward at the 1.20060 area.

I may be wrong. Trade safe and prosper.

KP

Quoting KeenPips
If you are tempted to trade EURUSD southward because of a low time frame signal, e.g. a double top on M30 tf, check yourself. Imho, EURUSD still has a disposition northward if you look at a higher time frame, e.g D1. You may be looking at the 1.20060 area before a turnaround can be considered. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #447
  • Dec 3, 2017 3:10pm Dec 3, 2017 3:10pm
If you are tracking EURNZD this week, consider this technical outlook.

The northward orientation of this pair appears to still be intact. On the weekly time frame, price action has moved away from respecting an outer ascending trendline (chocolate colour) and an inner ascending trendline (navy colour) is now acting as support. Last week, an indecision candlestick was formed at a resistance zone around the 1.73600 area. The location of price action is too far from an area of value measured by the nearest moving average on my system. So, we may expect a pullback, perhaps to the support trendline (navy colour), before any likely bullish continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Top-Down_Analysis_W1_3rd_Dec.,_2017.png Size: 46 KB


Price action on the daily time frame is operating within an ascending channel (bound in magenta coloured lines). In the past few days, price action has been operating at the distal end of the channel in a flag formation (bound in red coloured lines). We should watch what happens to price action in this area in the early days of this week. But the technicals indicate a weakening of bullish momentum. Much likely, we may see a southward pullback in the early part of this week before a bullish continuation materializes. The zone between the channel support line (magenta colour) and the support trendline from the weekly time frame (navy colour) is likely to serve as a target of bears before any northward turn around.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Top-Down_Analysis_D1_3rd_Dec.,_2017.png Size: 50 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #448
  • Dec 5, 2017 1:07pm Dec 5, 2017 1:07pm
We are dealing with ranging market conditions largely. So, unless you scalp, it will be a good decision to stay on the sidelines for a while and return later (perhaps after a few hours) to check how the market conditions are evolving. Besides, patience is of utmost importance in these market conditions.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #449
  • Dec 5, 2017 1:25pm Dec 5, 2017 1:25pm
EURGBP is classic in ranging. It may be of interest to see what happens to this pair in the next few hours. If the range formed on the D1 time frame (bound in horizontal magenta lines) breaks southward, which is technically supported, we may likely see a big southward move.

Trade safe and prosper.

KP


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_Update_D1_5th_Dec.,_2017.png Size: 40 KB
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  • #450
  • Dec 6, 2017 4:57am Dec 6, 2017 4:57am
You can make some money trading AUDUSD or NZDUSD southward today as you have technical clarity on the pairs; step aside from EURUSD which is erratic/sideways atm.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #451
  • Dec 6, 2017 7:53am Dec 6, 2017 7:53am
Quoting KeenPips
You can make some money trading AUDUSD or NZDUSD southward today as you have technical clarity on the pairs; step aside from EURUSD which is erratic/sideways atm. Trade safe and prosper. KP
Hello. Thank you for your nice thread. Yes, this is the right decision to stay away from the EU because of instability. The decision on the tax bill is not made in the US and this makes the market unstable. I'm thinking about waiting one week.
  • #452
  • Dec 6, 2017 8:52am Dec 6, 2017 8:52am
Wise decision mate.

KP


Quoting Barrg1
{quote} Hello. Thank you for your nice thread. Yes, this is the right decision to stay away from the EU because of instability. The decision on the tax bill is not made in the US and this makes the market unstable. I'm thinking about waiting one week.
Do your homework, follow the footprints of smart money
  • #453
  • Dec 8, 2017 2:53am Dec 8, 2017 2:53am
Here's a video you may find helpful on technical analysis of price action.

Trade safe and prosper.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #454
  • Dec 8, 2017 4:37am Dec 8, 2017 4:37am
Quoting KeenPips
Here's a video you may find helpful on technical analysis of price action. Trade safe and prosper. KP https://www.youtube.com/watch?v=KyZpS8Jzhxc
Yeah, nice video and good explanation of the main trading analysis tools (Fibo and Trend line, levels). This one is some easy example of market situation for analysis There was a nice bullish trend with some correction. Thank you
  • #455
  • Dec 8, 2017 6:23am Dec 8, 2017 6:23am
Very good.

Trade safe and prosper.

KP

Quoting Barrg1
{quote} Yeah, nice video and good explanation of the main trading analysis tools (Fibo and Trend line, levels). This one is some easy example of market situation for analysis There was a nice bullish trend with some correction. Thank you
Do your homework, follow the footprints of smart money
  • #456
  • Dec 9, 2017 1:26pm Dec 9, 2017 1:26pm
I have just finished the first phase of screening the pairs on my watch list. Technically you can expect EURUSD to bear southward next week. It is operating within a descending channel on the W1 time frame and at 50 Fib retracement zone of the swing from the high of June 2014 to the low of March 2015.

Trade safe and prosper.

KP


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Technical_Outlook_W1_Dec._9,_2017.png Size: 55 KB
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  • #457
  • Dec 9, 2017 1:36pm Dec 9, 2017 1:36pm
And of course you can see a topping formation on the D1 time frame.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Technical_Outlook_D1_Dec._9,_2017.png Size: 43 KB


Quoting KeenPips
I have just finished the first phase of screening the pairs on my watch list. Technically you can expect EURUSD to bear southward next week. It is operating within a descending channel on the W1 time frame and at 50 Fib retracement zone of the swing from the high of June 2014 to the low of March 2015. Trade safe and prosper. KP {image}
Do your homework, follow the footprints of smart money
  • #458
  • Dec 10, 2017 3:39pm Dec 10, 2017 3:39pm
If you are tracking GBPAUD this week, here's a technical perspective you may like to consider.

On the weekly time frame, price action has broken a resistance trendline (chocolate colour) from the high of August 2015 but a support trendline from the low of August 2017 is still in play. We may expect price action to retest this trendline or at least pullback before further northward move. Should price action manage to push upward, we may see bulls target the next resistance zone around the 1.83090 area. However, we should be aware of a resistance trendline (magenta colour) from the highs of the recent candlesticks in an operating ascending wedge formation. This is likely to hinder the advance of price action northward; which may result in a retracement of price action to the support trendine (navy colour) or a sideways disposition in the days ahead.

On the daily time frame, last week price action entered a resistance zone formed by two resistance trendlines (in magenta and red colours) and retraced southward from them. Note that price action is operating in an ascending channel within the context of a longer-term descending trend. Thus, we may expect price to bear southward, particularly as price action is at the distal part of the channel. A first target for bears is likely to be the channel support; this is may be followed by a target of the immediate support zone around the 1.68850 area.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD_Top-Down_Analysis_W1_10th_Dec.,_2017.png Size: 52 KB



Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD_Top-Down_Analysis_D1_10th_Dec.,_2017.png Size: 56 KB
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  • #459
  • Dec 10, 2017 5:27pm Dec 10, 2017 5:27pm
If you are considering trading USDCAD this week, realise that technically the pair is constrained in a corrective channel. The attached W1 chart shows the corrective channel or flag formation bound in chocolate coloured trendlines while a resistance trendline (magenta colour) is still in play. We may have a brief upward move but there are barriers to northward momentum. We may expect to see a bearish turnaround within the first two days of this week.

I may be wrong. Trade safe and prosper.


KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Technical_Update_W1_10th_Dec.,_2017.png Size: 50 KB
Do your homework, follow the footprints of smart money
  • #460
  • Dec 10, 2017 6:27pm Dec 10, 2017 6:27pm
may be you are right or wrong?but appreciate and respect your effort .keep it up .
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