Coming into the new week with no open trades, we saw some big moves on Friday, so maybe the week might start very slow. Most pairs broke the highs and we will watch if there will be some follow through...if they fail to follow through, we will react accordingly. More charts tomorrow
The beauty of trading with the trend works wonders, I could imagine trying to catch the top of this move could have caused a big dent to a traders account. The pair has moved up since last summer and she has moves in excess of 1500 pips...so if you didnt catch part of that move, you might be doing somenting wrong.
Gbpjpy
Price broke the pivot high, a retest of the pivot is possible...we will be watching as price approaches the pivot. If it follows through, we jump on the wagon....but if it fails, we will act accordingly.
Price broke the pivot high, a retest of the pivot is possible...we will be watching as price approaches the pivot. If it follows through, we jump on the wagon....but if it fails, we will act accordingly.
Eurnzd
Price is retesting the pivot, thats where it will decide to follow through or drop down. We are watching this pair closely since she is at a very significant level....I think we are more likely to see some sideways move before she dicides direction...but i feel she might drop and if she drops she will drops hard.
Price is retesting the pivot, thats where it will decide to follow through or drop down. We are watching this pair closely since she is at a very significant level....I think we are more likely to see some sideways move before she dicides direction...but i feel she might drop and if she drops she will drops hard.
Gbpaud
Pair is at a very significant level...it broke this pivot to the dowside last week, but failed to follow through, now she back to retest the same pivot. I think price is more likely to bounce off now and push higher in the next hours/days. We are watching this pair closely for a good setup to position ourself.
Pair is at a very significant level...it broke this pivot to the dowside last week, but failed to follow through, now she back to retest the same pivot. I think price is more likely to bounce off now and push higher in the next hours/days. We are watching this pair closely for a good setup to position ourself.
Aussie
Price is at a very signficant level on this pair...a level where price might either keep pushing higher or bounce off. Looking at the weekly chart, the pair has been in a wedge for a very long time now and price is at the upper TL of the wedge, if price breaks through and follows through, the pair will move higher, but if price breaks through and fails to follow through, there is a lot of room for a move to the downside. For now its a wait and watch closely, because this level is very signficant. If we move down to the daily chart we can see how price is pressing on the upper TL of the wedge...could be a very good trendy trade from this pair in the next days/weeks
Weekly Chart
Daily Chart
Price is at a very signficant level on this pair...a level where price might either keep pushing higher or bounce off. Looking at the weekly chart, the pair has been in a wedge for a very long time now and price is at the upper TL of the wedge, if price breaks through and follows through, the pair will move higher, but if price breaks through and fails to follow through, there is a lot of room for a move to the downside. For now its a wait and watch closely, because this level is very signficant. If we move down to the daily chart we can see how price is pressing on the upper TL of the wedge...could be a very good trendy trade from this pair in the next days/weeks
Weekly Chart
Daily Chart
Gbpjpy Short
We were short gbpjpy from last week, 1st target has been reached at 120 pips and we have been stopped out at breakeven on the remaining 2 orders. Some of our clients are still in the trade because we sent the trade management late at night. We were shaken out of what looks to be a good trade, but we don’t dwell on that, we look for new opportunities, and we don’t chase the pair unless we have a setup.
Weeks Total = +120pips
Before
After
We were short gbpjpy from last week, 1st target has been reached at 120 pips and we have been stopped out at breakeven on the remaining 2 orders. Some of our clients are still in the trade because we sent the trade management late at night. We were shaken out of what looks to be a good trade, but we don’t dwell on that, we look for new opportunities, and we don’t chase the pair unless we have a setup.
Weeks Total = +120pips
Before
After
aussie failed to follow through above the upper TL of the wedge...price is looking heavy now and we might see a drop in this pair...and there is plenty of room to drop...price could easily reach 1.0400
Before
After
Aussie didnt do as we expected, we were expecting a drop towards the 1.0400 handle. Now the pair is back to the upper TL of the wedge, this is a very signficant level for this pair now, either the pair will breakout or bounce off. If the pair breaks out, just wait to see if it follows through after break, but if it fails to follow through, there is plenty of room to move back to that 1.0400 level. Keep a close eye on this pair now, because if she breaks out of this wedge, she has plenty room to move and could be a very good trend trade...aslo keep...
A very interesting and signficant level on this pair is the 1.0560-1.550 zone, if the pair retraces to this zone, she will make a decision wether to continue moving up or drop. The level is the broken upper TL on the wedge and the broken pivot high. I am favouring the failed breakout on this one, time will tell.
Attachment
Before
After
