- #21,885
- Sep 9, 2015 2:43am Sep 9, 2015 2:43am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
JPY economy has been giving us mixed signals lately. Retail sales have risen 4 straight month in a row while household spending dipped lower then expected. EUR is also moved by Chinese data and general market sentiment. We must include last ECB meeting which was very dovish so EUR might further weaken against Yen.
Technically we are witnessing a bearish zig zag on H4 timeframe and last H4 candle is showing hidden bearish divergence which is a continuation sign. We have a clear 3 touch descending trend line which is in a confluence with important 134.90-135.10 zone. The zone is showing a confluence of 61.8 fib, previous double bottom-breakout point ( horizontal red line ), H4 and Hidden bearish divergence.
If 135.50 stays strong we could expect a drop towards 133.70 then 133.20. 131.50 and 130.40 are final targets for the move. The price should not exceed 135.50 as it in that case it will form ascending scallop pattern
Technically we are witnessing a bearish zig zag on H4 timeframe and last H4 candle is showing hidden bearish divergence which is a continuation sign. We have a clear 3 touch descending trend line which is in a confluence with important 134.90-135.10 zone. The zone is showing a confluence of 61.8 fib, previous double bottom-breakout point ( horizontal red line ), H4 and Hidden bearish divergence.
If 135.50 stays strong we could expect a drop towards 133.70 then 133.20. 131.50 and 130.40 are final targets for the move. The price should not exceed 135.50 as it in that case it will form ascending scallop pattern
- #21,887
- Sep 9, 2015 6:56am Sep 9, 2015 6:56am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
EURJPY going as it should 
straight 60 pip drop after the analysis. Scaling out of USDJPY is suggested +200 pips
straight 60 pip drop after the analysis. Scaling out of USDJPY is suggested +200 pips - #21,888
- Sep 9, 2015 9:46am Sep 9, 2015 9:46am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
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- #21,889
- Sep 9, 2015 9:51am Sep 9, 2015 9:51am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
JPY economy has been giving us mixed signals lately. Retail sales have risen 4 straight month in a row while household spending dipped lower then expected. EUR is also moved by Chinese data and general market sentiment. We must include last ECB meeting which was very dovish so EUR might further weaken against Yen. Technically we are witnessing a bearish zig zag on H4 timeframe and last H4 candle is showing hidden bearish divergence which is a continuation sign. We have a clear 3 touch descending trend line which is in a confluence with important...
- #21,891
- Sep 10, 2015 3:02am Sep 10, 2015 3:02am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} problem solved thanks T apriciate take note that y cant ear you on today webbinar sound it wase horrible many cuts . just for info dont know if it wase just me .
There was some internet connection problems and i switched to my 2nd connection so it was ok afterwards
- #21,892
- Sep 10, 2015 3:06am Sep 10, 2015 3:06am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
ACCU Pivot Points for today EURUSD GBPUSD
- #21,894
- Sep 10, 2015 4:22am Sep 10, 2015 4:22am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Yesterday EURJPY rejection off POC gave us 2 chances to trade it. Asia session rejection provided +50 pips possible while London rejection provided +75 pips. Watch the pattern. When this pattern happens its always a good time to consider scaling out or profit stop.
- #21,896
- Sep 10, 2015 5:03am Sep 10, 2015 5:03am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
USDCHF has been trading in a consolidation pattern as we can see it on the chart but recent Higher Low has made another channel inside consolidation pattern. That channel looks like a consolidation before breakout to the upside and actually it shows a good trading pattern if we get the price to our level with additional momentum afterwards. When price is moving sideways we don't use fibonacci ratios but instead we use channels and important s/r pivots aligned with HISTORICAL vs NOW MOMENT buyers or sellers. POC is showing up in 0.9725-35 zone ( L3, Rising trendline, historical buyers ) and bounce from that level can get the price up to 0.9820. If breakout above 0.9825 happens we could expect 0.9900. H5 around 0.9865 will be harder to reach at this point. For this scenario to be valid 0.9695 should hold as 0.9695-0.9680 is the buffer zone for a possible short breakout.
Alternatively if the pair drops below 0.9680 it could proceed to 0.9650 as a momentum / stop grabber trade.
Alternatively if the pair drops below 0.9680 it could proceed to 0.9650 as a momentum / stop grabber trade.
- #21,898
- Sep 11, 2015 2:31am Sep 11, 2015 2:31am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} I meant the upper channel . I could not get the starting pivot swing that connects the channel, please clear me {image}
