Do your homework, follow the footprints of smart money
- #642
- Aug 3, 2018 9:06am Aug 3, 2018 9:06am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
If you are tracking EURJPY, note that price action has just broken down a support trendline (black) from the low of May 2018. A retest and flip of the trendline next week is likely to give impetus to bears to challenge the 125.050 handle.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #643
- Aug 5, 2018 3:08pm Aug 5, 2018 3:08pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
If you are tracking the EURJPY this week, here's a technical perspective to consider.
On the daily time frame, recent price action has carved out an ascending channel (magenta). Presently, price action is located around the channel support and the candlesticks printed in the last three days of last week are disposed in favour of bears. But a break of the channel support is likely to see bears face further barrier in the shape of the horizontal support around 128.210; which may likely result in a corrective pullback, perhaps to around the previous minor horizontal support turned resistance around 129.300. Thereafter, we may see a southward turnaround, which is likely to give impetus for a bearish momentum that may see bears attempt to take out the horizontal support around 127.050/126.600.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, recent price action has carved out an ascending channel (magenta). Presently, price action is located around the channel support and the candlesticks printed in the last three days of last week are disposed in favour of bears. But a break of the channel support is likely to see bears face further barrier in the shape of the horizontal support around 128.210; which may likely result in a corrective pullback, perhaps to around the previous minor horizontal support turned resistance around 129.300. Thereafter, we may see a southward turnaround, which is likely to give impetus for a bearish momentum that may see bears attempt to take out the horizontal support around 127.050/126.600.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #644
- Edited 3:25am Aug 8, 2018 2:59am | Edited 3:25am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #645
- Aug 9, 2018 12:53pm Aug 9, 2018 12:53pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #646
- Aug 12, 2018 2:27pm Aug 12, 2018 2:27pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
If you are tracking NZDUSD this week, consider this technical perspective.
On the daily time frame, price action has recently breached a minor horizontal channel just below the major channel (blue) seen on tne weekly time frame. Of course, such a pattern is supportive of a bearish disposition. Nevertheless, as the follow-up price action was parabolic in nature we may see a northward pullback to the minor channel area or to the descending trendline (navy) from recent highs before a southward turnaround.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, price action has recently breached a minor horizontal channel just below the major channel (blue) seen on tne weekly time frame. Of course, such a pattern is supportive of a bearish disposition. Nevertheless, as the follow-up price action was parabolic in nature we may see a northward pullback to the minor channel area or to the descending trendline (navy) from recent highs before a southward turnaround.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #647
- Aug 16, 2018 8:28pm Aug 16, 2018 8:28pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #648
- Aug 18, 2018 3:01pm Aug 18, 2018 3:01pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #649
- Aug 21, 2018 2:04am Aug 21, 2018 2:04am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #650
- Sep 2, 2018 2:57pm Sep 2, 2018 2:57pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Here's my take on EURJPY from a technical perspective.
On the H4 time frame, price action has breached an ascending trendline (red) from the low of August 2018. Last week Friday, the last two sessions ended up printing an inside bar. The wicky nature of the printed candlesticks calls for caution. The candlesticks were printed around a horizontal support zone and we may see some sideways price action in the early part of this week. We can not rule out the possibility of price action retracing to retest the broken down ascending trendline (red) or the 129.420/129.700 zone – which was a previous minor horizontal support zone. However, such a move is likely to be temporary in nature. I am bearish EURJPY.
I may be wrong. Trade safe and prosper.
KP
On the H4 time frame, price action has breached an ascending trendline (red) from the low of August 2018. Last week Friday, the last two sessions ended up printing an inside bar. The wicky nature of the printed candlesticks calls for caution. The candlesticks were printed around a horizontal support zone and we may see some sideways price action in the early part of this week. We can not rule out the possibility of price action retracing to retest the broken down ascending trendline (red) or the 129.420/129.700 zone – which was a previous minor horizontal support zone. However, such a move is likely to be temporary in nature. I am bearish EURJPY.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #651
- Sep 3, 2018 3:05am Sep 3, 2018 3:05am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #652
- Sep 16, 2018 3:39pm Sep 16, 2018 3:39pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
I am bearish AUDUSD. Here's why, from a technical perspective.
On the H4 time frame, price action is in a consolidating phase within an ascending triangle (magenta). Such a pattern is technically prone to a southward breakout. However, in a period of uncertainties or ambivalence as we currently have in the markets, it is better to step aside and wait for clarity of price action. Much likely, a break of the triangle support will lead to a bearish continuation and momentum.
I may be wrong. Trade safe and prosper.
KP
On the H4 time frame, price action is in a consolidating phase within an ascending triangle (magenta). Such a pattern is technically prone to a southward breakout. However, in a period of uncertainties or ambivalence as we currently have in the markets, it is better to step aside and wait for clarity of price action. Much likely, a break of the triangle support will lead to a bearish continuation and momentum.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #653
- Sep 30, 2018 3:22pm Sep 30, 2018 3:22pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Are you tracking XAUUSD this week? Consider this top-down technical analysis.
On the daily time frame, a sideways operation is presently sustained. Price action printed a bullish candlestick last week Friday. This is not a signal for any bullish bias but indicative of the struggle between bulls and bears. Waiting for a southward breakdown of the horizontal channel (black) is likely to offer a more feasible trading opportunity; targeting the 1160.00 area.
On the H4 time frame, price action is bearing northward within a horizontal channel (black) seen on the daily time frame. This is technically a temporary pullback as the major outlook on both the weekly and daily time frames favours a southward mode. A minor resistance is in the 1200.00/1210.00 zone (bound by magenta horizontal lines). A daily bearish setup within the zone is likely to give me confidence for a southward turnaround. I am bearish XAUUSD.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, a sideways operation is presently sustained. Price action printed a bullish candlestick last week Friday. This is not a signal for any bullish bias but indicative of the struggle between bulls and bears. Waiting for a southward breakdown of the horizontal channel (black) is likely to offer a more feasible trading opportunity; targeting the 1160.00 area.
On the H4 time frame, price action is bearing northward within a horizontal channel (black) seen on the daily time frame. This is technically a temporary pullback as the major outlook on both the weekly and daily time frames favours a southward mode. A minor resistance is in the 1200.00/1210.00 zone (bound by magenta horizontal lines). A daily bearish setup within the zone is likely to give me confidence for a southward turnaround. I am bearish XAUUSD.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #654
- Oct 14, 2018 3:18pm Oct 14, 2018 3:18pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Here's why I will step aside for now in the EURUSD market.
On the daily time frame, price action is consolidating and respecting the horizontal channel (blue) seen on the monthly time frame. We may need to still wait for clarity of market direction on this pair.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, price action is consolidating and respecting the horizontal channel (blue) seen on the monthly time frame. We may need to still wait for clarity of market direction on this pair.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #655
- Oct 26, 2018 8:23am Oct 26, 2018 8:23am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #656
- Edited 9:19am Oct 30, 2018 8:48am | Edited 9:19am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
I am bearish EURUSD but my interest in a short position will not be piqued until a retracement to the horizontal resistance around the 1.14530/1.15210 area (bound by horizontal magenta lines) or a retest of the resistance trendline (black).
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #657
- Nov 11, 2018 7:30am Nov 11, 2018 7:30am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #658
- Nov 18, 2018 1:54pm Nov 18, 2018 1:54pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
Do your homework, follow the footprints of smart money
- #659
- Nov 25, 2018 2:38pm Nov 25, 2018 2:38pm
- Joined Dec 2015 | Status: Trader | 8,782 Posts
I will look for the opportunity to trade the GBPAUD southward this week. Here's my technical analysis of the pair.
On the daily time frame, price action is operating in a descending channel (black) with recent price action in consolidation and located near the channel resistance. The 1.77700/1.79000 zone (bound by horizontal magenta lines) is operating as a broken down support and we may see a retracement to it before a further southward continuation. The zone is also the 50/61.8 Fib retracement zone of the most recent swing down.
It is apparent from the H4 time frame that the 1.78600 area is a broken down minor support and it is in congruence with the 61.8 Fib retracement level. A mini ascending channel (blue) is seen on the H4 time frame and the consolidating mode in the channel may extend to a retest of the 1.77700/1.79000 area (bound by horizontal magenta lines) or the resistance of a major descending channel (black) seen on the daily time frame. Nevertheless, a breakdown of the mini ascending channel (blue) is likely to provide impetus for a southward momentum.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, price action is operating in a descending channel (black) with recent price action in consolidation and located near the channel resistance. The 1.77700/1.79000 zone (bound by horizontal magenta lines) is operating as a broken down support and we may see a retracement to it before a further southward continuation. The zone is also the 50/61.8 Fib retracement zone of the most recent swing down.
It is apparent from the H4 time frame that the 1.78600 area is a broken down minor support and it is in congruence with the 61.8 Fib retracement level. A mini ascending channel (blue) is seen on the H4 time frame and the consolidating mode in the channel may extend to a retest of the 1.77700/1.79000 area (bound by horizontal magenta lines) or the resistance of a major descending channel (black) seen on the daily time frame. Nevertheless, a breakdown of the mini ascending channel (blue) is likely to provide impetus for a southward momentum.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #660
- Dec 12, 2018 2:30am Dec 12, 2018 2:30am
- Joined Dec 2015 | Status: Trader | 8,782 Posts
If you are tracking the EURNZD, we are likely to have a further northward retracement to a former support zone, probably the 1.66400/1.67130 area (bound by magenta horizontal lines) in the attached charts, before a southward turnaround. I remain bearish EURNZD.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money