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  • #121
  • Aug 8, 2016 1:05pm Aug 8, 2016 1:05pm
Quoting KeenPips
I am yet to conclude my weekly scanning and analysis. Nevertheless, from the first two steps in my scanning process, I know I will be stepping aside on the EURUSD as I expect a sideways market situation on the pair. From the standpoint of technical analysis on the weekly time frame, the southward move is still in play but the momentum is weakening. Trade safe.
EURUSD is predominantly southward in disposition although the current price action is a bit to the north side; a corrective move apparently. Trade safe
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  • #122
  • Aug 8, 2016 1:13pm Aug 8, 2016 1:13pm
Quoting KeenPips
{quote} EURUSD is predominantly southward in disposition although the current price action is a bit to the north side; a corrective move apparently. Trade safe
This may be followed by a sideways play before a further move southwards.
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  • #123
  • Aug 9, 2016 5:05am Aug 9, 2016 5:05am
Quoting KeenPips
{quote} This may be followed by a sideways play before a further move southwards.


Technicals favour EURUSD southward mode but the momentum is weak; may be a rejection of the monthly pivot, about 25 pips northwards atm, will bring speedy momentum for a southward move. Trade safe.
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  • #124
  • Aug 9, 2016 9:33am Aug 9, 2016 9:33am
EURUSD is now testing the weekly pivot, which is in confluence with the 4Hr 200 EMA and Fib 61.8. Any rejection of the zone will be a signal for me to take a southwards trade. I may be wrong. Trade safe.
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  • #125
  • Aug 10, 2016 10:47am Aug 10, 2016 10:47am
I have watched AUDUSD in its recent move, particularly since the release of the US Crude Oil inventories data. Confidence in seeing the pair go further north can only be got if the price action bounces off the daily pivot (around 0.76603), which is in confluence with the immediate support zone on the 4H time frame. Trade safe

KP
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  • #126
  • Aug 12, 2016 9:58am Aug 12, 2016 9:58am
Just my 10 cents:

Price moves don't always agree with news. You are safer by looking for the long-term technical direction of the market/pair and wait for impact of news to fuel its momentum. Trade safe.
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  • #127
  • Aug 12, 2016 10:06am Aug 12, 2016 10:06am
With strong technical bearish sentiment, I took advantage of the weakness of the USD fundamentals and the bearish mood of the GBP to trade GBPJPY and GBPCAD southwards to good effect today. Trade safe.
Do your homework, follow the footprints of smart money
  • #128
  • Aug 14, 2016 5:37am Aug 14, 2016 5:37am
I am just about concluding my weekly scanning and analysis of the 12 pairs on my watch list. After the first two steps of the scanning/analysis process only five of the pairs meet the criteria for further analysis. EURUSD is not one of the pairs I may trade during the week. Why? The pair is predominantly in a sideways mode - may be a scalper's delight but not good for my swing trading strategy. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #129
  • Aug 14, 2016 8:25am Aug 14, 2016 8:25am
Quoting KeenPips
I am just about concluding my weekly scanning and analysis of the 12 pairs on my watch list. After the first two steps of the scanning/analysis process only five of the pairs meet the criteria for further analysis. EURUSD is not one of the pairs I may trade during the week. Why? The pair is predominantly in a sideways mode - may be a scalper's delight but not good for my swing trading strategy. I may be wrong. Trade safe.


I have just completed the weekly scan and analysis of the 12 pairs on my watch list. Only three pairs meet the conditions for the trades I wil seek to enter during the week. These are: GBPCAD (first priority), GBPJPY (second priority) and GBPUSD (tentative, needs mid-week update). Here is why I am making GBPCAD my first priority trade for the week, representing my perspective on the pair.

GBPCAD:

The technicals I use are well in sync on the higher time frames for a downward mode.

On the 4H time frame, which I use for trade setups, although the pair has been in sideways mode since July 14, a bearish continuation mode resumed on August 2 which has remained strong. The price is well displaced from the 20 EMA and the thrust of 9 and 20 EMAs is well directed to the downside. Although the 89 SMA is still above the 200 SMA; when the 89 SMA moves below the 200 SMA the impetus for a downward move is likely to be greater. Furthermore, the 4-H RSI and its 9 MA are synced for a bearish mode.

I may be wrong. Trade safe
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  • #130
  • Aug 14, 2016 8:40am Aug 14, 2016 8:40am
Quoting KeenPips
{quote} I have just completed the weekly scan and analysis of the 12 pairs on my watch list. Only three pairs meet the conditions for the trades I wil seek to enter during the week. These are: GBPCAD (first priority), GBPJPY (second priority) and GBPUSD (tentative, needs mid-week update)....


Why did I choose to step aside for now regarding GBPUSD? The primary mode on the higher time frames is towards the downside, all the technicals I use for my analysis are in agreement on this. However, the intraday technicals are at variance, indicating a northward mood, may be a strong pull back to the upside. Therefore, as a swing trader I need to wait for agreement of the intraday with the higher time frames, otherwise I will be taking a big risk and will not be following my trading rules. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #131
  • Aug 15, 2016 9:44am Aug 15, 2016 9:44am
I like this approach to understanding market structure and tracking the market:
Inserted Video


Trade safe.
Do your homework, follow the footprints of smart money
  • #132
  • Aug 16, 2016 8:34am Aug 16, 2016 8:34am
Quoting KeenPips
{quote} I have just completed the weekly scan and analysis of the 12 pairs on my watch list. Only three pairs meet the conditions for the trades I will seek to enter during the week. These are: GBPCAD (first priority), GBPJPY (second priority) and GBPUSD (tentative, needs mid-week update)...
I am now tracking the GBPJPY as it is testing the daily pivot. Any bounce off the daily pivot or formation of a significant (bearish) rejection candle around it is potentially a cue to go southwards. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #133
  • Aug 16, 2016 12:28pm Aug 16, 2016 12:28pm
EURUSD is presenting an interesting scenario atm. If you say it's bullish you'll be right, if you say it's bearish you'll equally be right!!! The point is how far down/up and for how long? The primary outlook on the HTFs (e.g weekly and daily) is uncertain - somewhat on a sideways mood. The 89 SMA and 200 SMA on both are not in series; price is between both of them. For me, I will wait for clarity. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #134
  • Aug 17, 2016 1:53pm Aug 17, 2016 1:53pm
Quoting KeenPips
EURUSD is presenting an interesting scenario atm. If you say it's bullish you'll be right, if you say it's bearish you'll equally be right!!! The point is how far down/up and for how long? The primary outlook on the HTFs (e.g weekly and daily) is uncertain - somewhat on a sideways mood. The 89 SMA and 200 SMA on both are not in series; price is between both of them. For me, I will wait for clarity. I may be wrong. Trade safe.
We are predominantly in a ranging market on EURUSD, although there's quite a load of movement on either side - an upward channel was created on the daily chart over 20 days ago and a range on the weekly time frame has developed for quite a while; this condition will surely delight scalpers. Trade safe.
Do your homework, follow the footprints of smart money
  • #135
  • Aug 17, 2016 4:32pm Aug 17, 2016 4:32pm
Quoting KeenPips
{quote} I have just completed the weekly scan and analysis of the 12 pairs on my watch list. Only three pairs meet the conditions for the trades I wil seek to enter during the week. These are: GBPCAD (first priority), GBPJPY (second priority) and GBPUSD (tentative, needs mid-week update)...

Based on my mid-week update, in the short-to-medium term, the GBPUSD has a northward disposition; however the momentum is weakening. It may take good GBP fundamentals (or related ones) during the week to energize the momentum. Otherwise, there is potential for a southward turnaround, particularly if price rejects the monthly pivot to the downside. I prefer to look for an opportunity to trade the pair southwards. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #136
  • Aug 18, 2016 1:31am Aug 18, 2016 1:31am
Quoting KeenPips
{quote} Based on my mid-week update, in the short-to-medium term, the GBPUSD has a northward disposition; however the momentum is weakening. It may take good GBP fundamentals (or related ones) during the week to energize the momentum. Otherwise, there is potential for a southward turnaround, particularly if price rejects the monthly pivot to the downside. I prefer to look for an opportunity to trade the pair southwards. I may be wrong. Trade safe.

A break above yesterday's high (the high of the doji created yesterday), which is also above the daily pivot, is likely going to offer much possibility for a northward move on GBPUSD with a target at the next significant resistance level just below the monthly pivot. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #137
  • Aug 18, 2016 10:18am Aug 18, 2016 10:18am
If you are a swing or positiion trader, this video will help you learn to effectively manage your watch list - I don't have any business relationship with the presenter. Trade safe

Inserted Video
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  • #138
  • Aug 19, 2016 2:17am Aug 19, 2016 2:17am
Quoting KeenPips
{quote} A break above yesterday's high (the high of the doji created yesterday), which is also above the daily pivot, is likely going to offer much possibility for a northward move on GBPUSD with a target at the next significant resistance level just below the monthly pivot. I may be wrong. Trade safe.
GBPUSD opened below yesterday's daily high and is now trading below the monthly pivot. Any bearish move that breaks the daily pivot will be cue for me to trade southwards. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #139
  • Aug 19, 2016 4:09am Aug 19, 2016 4:09am
The AUDUSD is facing a push to the downside perhaps linked to the uncertainties surrounding China's budget deficit. A drop below the monthly pivot which would see price under the 4H 200 EMA is likely to add further impetus for a southward mode. I may be wrong. Trade safe.
Do your homework, follow the footprints of smart money
  • #140
  • Aug 19, 2016 4:12am Aug 19, 2016 4:12am
Quoting KeenPips
The AUDUSD is facing a push to the downside perhaps linked to the uncertainties surrounding China's budget deficit. A drop below the monthly pivot which would see price under the 4H 200 EMA is likely to add further impetus for a southward mode. I may be wrong. Trade safe.

Here's the link on China's budget deficit: http://www.forexfactory.com/news.php?do=news&id=603431
Do your homework, follow the footprints of smart money
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