And .6755 hit - good call 
- #22,622
- Mar 11, 2016 1:52pm Mar 11, 2016 1:52pm
- Joined Jul 2013 | Status: Trader | 1,045 Posts
{quote} Hi Catalin, long time no see. How are you doing???
- #22,623
- Mar 13, 2016 11:49am Mar 13, 2016 11:49am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
- #22,624
- Mar 14, 2016 7:44am Mar 14, 2016 7:44am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
GBPUSD ascending scallop on H4 time frame suggests further bullish continuation. If we drill down to H1 time frame we will see a solid uptrend where GBPUSD has been bought on pullbacks. The first POC (L3, 38.2, triple top breakout) comes within 1.4315-25 zone and the pair could reject towards 1.4440. A 4h close above 1.4420 (H3 cam PP) would signal a continuation towards 1.4550. POC2 (EMA89, L4, 50.0, trend line) comes within 1.4260-80 zone and the deeper pullback below 1.4310 could target POC2. If POC2 zone is reached GBPUSD will still be bullish targeting 1.4420-40 and above ant only the real close below a Fakeout candle at 1.4115 would initiate sellers for another break below 1.4000.
However 1.4550 is the interim resistance and should the pair reach it we could see now momentum sellers and the price could reject from it.
However 1.4550 is the interim resistance and should the pair reach it we could see now momentum sellers and the price could reject from it.
- #22,628
- Mar 15, 2016 8:04am Mar 15, 2016 8:04am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
As we could see, after yesterday's webinar USDJPY dropped like a stone from POC giving us more then 140 pips of a profit. The setup was based on a running triangle and general 114.00 rejections and straight after the webinar we had a trade that is more than 140 pips in profit now. But that's not all. Traders should pay attention to L4 breakout as 4h close or H1 momentum below could tank the price further down to 112.20 all the way to 111.55. If the price rejects off 112.50-60 zone watch for a retest of 113.20-35 zone (L3, doube trend line, EMA89) that could give us another shorting opportunity. MACD momentum is very strong so L4 breakout is possible too but only if we see a valid H1/H4 close.
- #22,629
- Mar 15, 2016 10:59am Mar 15, 2016 10:59am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
- #22,630
- Mar 17, 2016 6:29am Mar 17, 2016 6:29am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
This is what I like to see and this is when traders can make both pips and money trading momentum, breakouts and subsequently making positional trades. Yesterday FED neutral to dovish statement (more dovish though) sparked the upside momentum on the EURUSD pair and BOOM! The pair behaved as predicted via this analysis that was published before FOMC and after a perfect consolidation the pair broke all upside levels hitting the target.
What would EURUSD need to do for an encore? Obviously the pair is going towards magnetic 1.1375 level (Feb high + H4 camarilla WPP) where we could see some initial selling. 4h close above it will expose 1.1555 that could be next swing target. Positional trades could happen within 1.1260-50 zone (23.6, H3, inner trend line). Because we don't see any retracement on 4h time frame yet we can use historical price action that is repeating in now moment (see the chart). That's the beauty of Forex trading.
What would EURUSD need to do for an encore? Obviously the pair is going towards magnetic 1.1375 level (Feb high + H4 camarilla WPP) where we could see some initial selling. 4h close above it will expose 1.1555 that could be next swing target. Positional trades could happen within 1.1260-50 zone (23.6, H3, inner trend line). Because we don't see any retracement on 4h time frame yet we can use historical price action that is repeating in now moment (see the chart). That's the beauty of Forex trading.
- #22,631
- Mar 20, 2016 10:57am Mar 20, 2016 10:57am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Read my new blog post post about Trends we Love and Hate + short video abut Forex and Equities correlation
- #22,636
- Edited 8:55am Mar 21, 2016 8:35am | Edited 8:55am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
The AUDUSD is gaining its handle above 0.7500 level and the RBA stayed neutral on recent AUD strength.In my opinion its mainly USD weakness, but Commodities prices have improved the last few weeks - Iron Ore, Copper, Oil (LNG), Gold, and Bauxite and AUDUSD is linked to hard commodities.
The technical analysis is showing the ascending scallop formed on H1 chart and clear POC within 0.7560-75 zone (X-cross, WPP, 38.2, EMA89). Additionally there is an inner trend line that shows buying strength on pullbacks (red rectangles) Retracement within the zone is additionally supported by historical breakout point (blue rectangle) at 0.7590 so that level can also reject the price. The target is 0.7670 and 4h close above 0.7670 will target 0.7750.
The technical analysis is showing the ascending scallop formed on H1 chart and clear POC within 0.7560-75 zone (X-cross, WPP, 38.2, EMA89). Additionally there is an inner trend line that shows buying strength on pullbacks (red rectangles) Retracement within the zone is additionally supported by historical breakout point (blue rectangle) at 0.7590 so that level can also reject the price. The target is 0.7670 and 4h close above 0.7670 will target 0.7750.
- #22,637
- Mar 22, 2016 3:43am Mar 22, 2016 3:43am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
The AUDUSD is gaining its handle above 0.7500 level and the RBA stayed neutral on recent AUD strength.In my opinion its mainly USD weakness, but Commodities prices have improved the last few weeks - Iron Ore, Copper, Oil (LNG), Gold, and Bauxite and AUDUSD is linked to hard commodities. The technical analysis is showing the ascending scallop formed on H1 chart and clear POC within 0.7560-75 zone (X-cross, WPP, 38.2, EMA89). Additionally there is an inner trend line that shows buying strength on pullbacks (red...
- #22,638
- Mar 23, 2016 4:38am Mar 23, 2016 4:38am
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #22,639
- Mar 23, 2016 4:55am Mar 23, 2016 4:55am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Hi T, What are your thoughts on GBPUSD? My view POC 1.4152 - 1.4140 (camarilla (daily) L3, fib 78.6, trendline H4, monthly pivot) {image}
It can bounce from there indeed. If it breaks the bottom it will create a bearish M, so we should see now moment buyers withing .4150 zone
- #22,640
- Mar 23, 2016 6:00am Mar 23, 2016 6:00am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Bad inflation data is weighting on the GBPUSD pair (0.3 % vs 0.4 % expected) and that could possibly mean no rate hike anytime soon and it caused a deeper retracement in the price. Technically we can see an uptrend on H4 time frame and the price is reaching deeper retracement zone and important crossroads.
POC (78.6, historical buyers, trend line) 1.4140-55 is important as the price could find now moment buyers that would spike the price up towards L4 1.4220. However only if the 4h candle closes above 1.4220 we could see 1.4350 again. POC is very close to the first leg of bearish M pattern too, so if 1.4115 is lost the price will go for another test of 1.4050 and 1.4000.
POC (78.6, historical buyers, trend line) 1.4140-55 is important as the price could find now moment buyers that would spike the price up towards L4 1.4220. However only if the 4h candle closes above 1.4220 we could see 1.4350 again. POC is very close to the first leg of bearish M pattern too, so if 1.4115 is lost the price will go for another test of 1.4050 and 1.4000.