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  • #301
  • Apr 2, 2017 1:42pm Apr 2, 2017 1:42pm
Here is a weekly technical perspective on USDJPY.

The pair has maintained a southward disposition for a very long time. On the weekly time frame, price action respected an outer descending trendline (chocolate) from the high of August 1998. It was later rejected southwards to respect an inner descending trendine (navy colour) from the high of 2002. After a retracement just above the 61.8 Fib zone of that trend in December 2016 and January 2017, price action is bearing south but an ascending trendline (chocolate colour) from the low of September 2012 is holding as support. Recent price action is within a weekly support zone and the technicals on the weekly time frame are mixed, suggesting a further period of consolidation even though the overall outlook is southwards. A close below the immediate support on the weekly time frame is likely to expose the 107.320 handle, which adjoins the 50 Fib zone. As the most recent price action suggests a further bullish move or consolidation, price may move upwards to retest a minor descending tendline (magenta colour) before turning southwards.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Top-Down_Analysis_Weekly_Apr._2,_2017.png Size: 44 KB
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  • #302
  • Apr 2, 2017 2:05pm Apr 2, 2017 2:05pm
If you are tracking GOLD this week, consider this technical outlook.

The pair has been in decline since the high of 2010. On the weekly time frame, price action in 2016 peaked to just 32.8 Fib retracement of the drop from the high of 2010. The outer and inner trendlines (chocolate colour) from the peak of 2010 have formed a descending channel within which recent price action is operating. An ascending trendline (magenta colour) from the low of June 2016 has held as support since August 2015. Furthermore, price action since November 2016 has moved into the descending channel created in November 2014 (navy coloured lines). Thus in the circumstance, with most recent price action under the control of the bulls it is safe to expect a a further push northwards to perhaps target the immediate resistance zone on the weekly time frame around 1322 or retest the 38.2 Fib zone before impetus for a strong southward drive. However, there are a series of barriers to overcome northwards and thus the momentum may be limited. It will be safe to step aside for clarity of price action because should the barriers prove strong, we may see a ranging market before a southward push can materialize. details on this and a few other pairs are provided at weekly technical outlook.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_Top-Down_Analysis_Weekly_Apr._2,_2017.png Size: 44 KB
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  • #303
  • Apr 3, 2017 5:50am Apr 3, 2017 5:50am
Quoting KeenPips
If you are tracking GOLD this week, consider this technical outlook. The pair has been in decline since the high of 2010. On the weekly time frame, price action in 2016 peaked to just 32.8 Fib retracement of the drop from the high of 2010. The outer and inner trendlines (chocolate colour) from the peak of 2010 have formed a descending channel within which recent price action is operating. An ascending trendline (magenta colour) from the low of June 2016 has held as support since August 2015. Furthermore, price action since November 2016 has moved...
Technical Update on Gold

If you are tracking XAUUSD, patience can be golden. You may benefit from the over 800 pip-range it has created, see the weekly chart attached, but you need to navigate the descending channel of the price action on the H4 time frame first.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Update_Weekly_Apr._3,_2017.png Size: 32 KB


Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Update_H4_Apr._3,_2017.png Size: 31 KB
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  • #304
  • Apr 9, 2017 12:56pm Apr 9, 2017 12:56pm
If you are tracking the EURJPY this week, you may benefit from this technical outlook.

On the H4 time frame, an outer descending trendline (bold saddlebraown colour) from the high of March 13, 2017 is still very much in play while price action has moved lower, indicating an increase in momentum, to respect an inner descending trendline (bold magenta colour) from the high of March 17, 2017. The order flow context and the nature of price action last week showed that the market was in consolidation but the bulls were largely more influential. It is much likely that there wil be a retracement northwards before any further southward move is in play. A likely target of such a retracement is the intersection of the inner descending trendline and the immediate resistance zone, which is around 118.656 and 119.023 and which adjoins the 38.2 Fib zone from the high of March 17, 2017. Details on this and the AUDUSD are found at weekly technical outlook.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Top-Down_Analysis_H4_Apr._9,_2017.png Size: 46 KB
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  • #305
  • Apr 12, 2017 1:27am Apr 12, 2017 1:27am
If you are tracking EURUSD, note that the price action is operating around the support line of an ascending channel. A daily close below the support line is likely to expose the low of 2016 around 1.03631, which has held as a multi-year support zone. Otherwise, price is likely to pull upwards into the channel to target the immediate resistance around 1.06500.

I may be wrong. Trade safe and prosper.

KP


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Update_Weekly_Apr._12,_2017.png Size: 26 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Update_Daily_Apr._12,_2017.png Size: 31 KB
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  • #306
  • Apr 14, 2017 2:16am Apr 14, 2017 2:16am
If you are tracking USDJPY, note that although the overall technical disposition of the pair is southwards, there is likely to be a retracement northwards to around 109.320 and 110 before a further southward drive.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Update_H4_Apr._14,_2017.png Size: 33 KB
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  • #307
  • Apr 14, 2017 4:16am Apr 14, 2017 4:16am
Quoting KeenPips
If you are tracking USDJPY, note that although the overall technical disposition of the pair is southwards, there is likely to be a retracement northwards to around 109.320 and 110 before a further southward drive. I may be wrong. Trade safe and prosper. KP {image}

The immediate key support is about 50 pips southwards at the moment and unless you are a scalper, you would like to wait for a retracement to swing trade the pair southwards.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #308
  • Apr 18, 2017 3:28am Apr 18, 2017 3:28am
This is why you keep searching for the 'Holy Grail': You don't understand what really brings about lasting success in Forex trading. Stop searching for the 'Holy Grail'! There is no single best trading strategy or system. Just focus on what fits your personality and trading style, and works best for you.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #309
  • Apr 21, 2017 9:21am Apr 21, 2017 9:21am
Here's a video you may learn something from.

Trade safe and prosper.

KP

Inserted Video
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  • #310
  • Apr 23, 2017 1:15pm Apr 23, 2017 1:15pm
Would you like to trade AUDJPY this week? Consider this technical perspective. On the daily time frame, price action since March 2017 has been operating in a descending channel (dark violet colour) but since the beginning of April the price action has moved to the lower half of the channel, creating a pennant-like formation, portending an increase in momentum southwards. It should be noted that the most recent price action is within a zone which has flipped as an S/R role for a while. As there is a confluence of barriers in this zone, price action may struggle before it successfully breaks below the zone. This is likely to expose the next support zone, around 79.278, as the likely target.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY_Top-Down_Analysis_Daily_April_23,_2017.png Size: 45 KB
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  • #311
  • Apr 23, 2017 1:34pm Apr 23, 2017 1:34pm
If you are tracking USDJPY this week, here's is a technical outlook you may want to consider. On the H4 time frame, price action is respecting a descending trendline (magenta colour). One descending price wave had been completed, including a pullback which was followed by a period of consolidation three weeks’ ago. A second price wave southwards began two weeks’ ago and is still very much in play with a pullback initiated last week. The most recent price action indicated that the bears were trying to exert some influence to begin a further southward drive. Nevertheless, it is much likely that price action will retrace upward to the resistance created by the descending trendline, before any further southward move may be seen as reliable.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_Top-Down_Analysis_H4_Apr._23,_2017.png Size: 39 KB
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  • #312
  • Apr 26, 2017 3:21am Apr 26, 2017 3:21am
Thinking of winning your trading war? Enjoy this video.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #313
  • Apr 26, 2017 3:32am Apr 26, 2017 3:32am
Quoting KeenPips
Thinking of winning your trading war? Enjoy this video. KP https://www.youtube.com/watch?v=1Y2B9zh_yGQ

Pick your battles! A good point.

KP
Do your homework, follow the footprints of smart money
  • #314
  • Apr 27, 2017 12:13am Apr 27, 2017 12:13am
If you are tracking NZDUSD, be aware that the pair is operating within a range of about 160 pips. A scalper's delight? But as a swing trader, I will wait until price action has passed no-man's land before looking for any trading opportunity. See attached chart; the range is mapped with bold saddlebrown horizontal lines.

Trade safe and prosper.

KP



Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD_Update_H4_Apr._27,_2017.png Size: 39 KB
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  • #315
  • Apr 27, 2017 5:32am Apr 27, 2017 5:32am
Quoting KeenPips
{quote} Pick your battles! A good point. KP
Picking your battles very well is central to long-term and consistent success in this business. You pick trading battles that you are well equipped to win. For example: Deciding and choosing which assets to trade, when and how will be part of picking your battles. Do you have a set of clear and specific criteria as well as a system for selecting which pairs to trade at which time and the market conditions that could provide you optimal success? Have you honed your trading strategies and understood how best to gain a profitable edge in the market? How well do you use 'idle time' to track the market and sharpen your arsenal?

KP
Do your homework, follow the footprints of smart money
  • #316
  • Apr 28, 2017 2:09am Apr 28, 2017 2:09am
Just Sharing

I have always thought Forex trading was difficult until very much recently. Forex trading is very easy; what is difficult is succeeding in Forex trading. And here's why:

It takes a load of hard work and mental effort to plan and prepare for consistent profitability; and much more mental and emotional effort to wait for the right time, price and location. Only very few traders can do this.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #317
  • Apr 30, 2017 1:28pm Apr 30, 2017 1:28pm
Are you tracking USDCAD this week? Here's a technical perspective you may consider.

The technicals and order flow context of the H4 time frame strongly favour the bulls. The two ascending tendlines (magenta colour) are well-angled for enhanced momentum to the northside and since April 2017 the candlesticks have been predominantly bullish. Three ascending price waves have been fully completed on he H4 time frame and a fourth is in play, much likely to produce a pullback before any further northward move can see further impetus, more so since recent price action has been within a resistance zone. The wicky-top candlesticks recently formed on the H4 time frame give further clue as to the struggle of sellers to wrestle control from buyers, perhaps indicating imminence of a pullback.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Top-Down_Analysis_H4_Apr._30,_2017.png Size: 32 KB
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  • #318
  • Apr 30, 2017 1:53pm Apr 30, 2017 1:53pm
Here's a technical perspective on the NZDUSD.

The pair has continued the decline it started from the high of 2014. On the weekly time frame, in August 2016, the price action produced a 50 Fib retracement of the drop from the high of 2014 to the low of 2015 after two price waves to the downside. Thereafter, price respected a descending trendline (chocolate colour) from the high of 2014. Since then price ranged within a descending channel. An ascending trendline (navy colour) from the low of 2015 has been respected as support and last week a big bearish candlestick, which engulfed seven previous candlesticks attacked this support around 0.68820 but could not breach it. It should be noted that this area is also adjoined to a horizontal support zone. Should the zone be broken southwards, the initial target is likely to be around 0.67000, the origin of a northward move in May 2016.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD_Top-Down_Analysis_Weekly_Apr._30,_2017.png Size: 43 KB
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  • #319
  • May 2, 2017 8:40am May 2, 2017 8:40am
Quoting KeenPips
Are you tracking USDCAD this week? Here's a technical perspective you may consider. The technicals and order flow context of the H4 time frame strongly favour the bulls. The two ascending tendlines (magenta colour) are well-angled for enhanced momentum to the northside and since April 2017 the candlesticks have been predominantly bullish. Three ascending price waves have been fully completed on he H4 time frame and a fourth is in play, much likely to produce a pullback before any further northward move can see further impetus, more so since recent...
It is approaching 1.3750 so fast. How much more is the bullish move? I have opened so many short positions and losing badly
Enter Signature
  • #320
  • Edited 9:28am May 2, 2017 9:03am | Edited 9:28am
Quoting bbk1
{quote} It is approaching 1.3750 so fast. How much more is the bullish move? I have opened so many short positions and losing badly
Hi mate! I provide a technical perspective based on my swing trading system. Bulls were favored so were I to trade, I would look for a buy trading opportunity at some already identified level. As a matter of fact I had mapped an area on the H4 time frame where I look to trade from, I am just waiting for price to enter the zone. Trade safe and prosper.KP
Do your homework, follow the footprints of smart money
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