My Weekly Decision Bar Trading Direction Journal

EurUsd: I am thinking that we are at the bottom of a channel here with divergence on both the daily and 4 hr charts. Weekly sentiment however is bearish so will have to keep an eye on some tricky moves here this week.

GbpAud: I am seeing a broken t/l short on the 4hr and the formation of an evening star on the daily. All this says looking short no matter what the weekly sentiment is early on. That will come back into play later.

GbpJpy: Weekly sentiment is long, but I am getting some serious mixed signals here. I am going to trade this pair with caution unless I see something really nice.

GbpNzd: We are all bullish here and still waiting for the big move from the bullish engulfing bar from a week ago on the weekly chart. I have been waiting for a place to get a lower entry to try to get in long, and still not have gotten to where I would like to enter. Maybe this week we will see some lows before the larger move up continues.

GbpUsd: Bullish on the weekly. Daily has given us an evening star and on the 4hr, we have tweezer bottoms. This thing will be giving pips in both directions, but in the long run it will be bullish once all the zig zag stops.

NzdUsd: Weekly = bearish but at level of support. 4hr has formed a morning star which says it is time to go long for a zag leg up.

UsdCad: We are at the top of the channel. Will we spend this week heading back to the bottom?

UsdChf: We have been bullish on the weekly chart, but a bearish h&s on weekly just came into view as well as a bearish flag on the daily, which we are at the top of that channel right now at resistance. This pair looks very short at the moment.

Lasty UsdJpy: Weekly = Bullish. However 4hr shows us a bearish channel which should take us shorter before the larger money jumps in to take us back long again which is what I saw on all the other yen pairs this week.

Also.. check out the daily bullish close right at resistence. I think that this pair is ready for a nice drop this week.. perhaps down to support at 103....

It looks like there will be lots of opportunities for pip making this week! If I have time I may post some trades, if not maybe I will see you next week!

Enjoy!

Damon

AudJpy: I am excited for the up and coming trade. I am serious bullish on the weekly, with bullish h&s on the daily. From this point I am seeing an 800 pip move, but this is not the safest place to be long from, but the one that will give the least risk. I will be looking for places to take advantage of this up and coming suspected move. We are also coming into the bottom of a channel. I think that looks like a good place for a long. With all the congestion, I am not at this point expecting to see a break out lower.

AudUsd: Long based on weekly bar close but very aware of a push into a bearish pin bar which could then lead to a strong rejection of an upper channel line. So, I am long bias to a point and then would want to get out and look for short opportunities. Have to see what happens.

Nothing this week, Damon?

EurAud - Looking long based on the rejection gravestone doji on the weekly chart into the doji of 2 weeks ago. It seems that there is no real sellers left. Not to mention that there is visible weekly bullish divergence.

Yes Ratson.... I am working on it. Last week was exceptional, and so one of my main goals is to keep my profits. I will get some more charts up.. .. Thank you for your interest.

EurCad: Bullish on the weekly breakout of the triangle. I am wanting to see price come back to the broken channel line before I enter... or other bullish opportunities.

EurJpy: Bearish on the weekly bar and we are really stuck right now in that engulfing bar of a few weeks ago, but for this week I will be looking for short set-ups.

EurNzd : I am seriously hot and heavy from those two sister bars of a few weeks ago but it looks like we might have to see some more downward first. I will not be messing short as I want to get long as early as I can when those sister bars decide to take charge! Though a nice short might be when it comes back to the broken channel line on the 4 hr. I am not sure if this weekly bar will close bearish but I think it will give us some lows over last weeks lows.

EurUsd: The only thing I am seeing and can say at the moment is that based on the weekly close I will be looking for long positions. Nothing is to my liking or is jumping out at me so far. But that monthly close looks like this pair could be trying to go long all month but might have trouble making large moves in any direction.

Gbpaud: Based on weekly closes I will be looking for long trades this week unless we break last weeks low. Then my sentiment will shift to looking for short trades mostly.