GBP/USD, August 5, 7am UK Time
We saw a downward correction yesterday after the APD data. Cable never really recovered and rejected 1.59 a few times during Asia. The 7am candle open is the second bullish candle in a row with some potential upward momentum above 1.59.
GBP/USD, August 5, 7am UK Time
GBP/USD, August 3, 7am UK Time
After reaching 1.59 yesterday, cable consolidated through the Asia session and is about to find direction after the London open. This has the energy to break 1.6 and is still in an up trend, but we should all stay cautious that a correction is statistically overdue after a multi day increase.
GBP/USD, August 3, 7am UK Time
GBP/USD, August 2, 7am UK Time
Still bullish momentum in cable, but everybody is waiting for a correction. I would prefer to go short into London, but will trade what the charts provide. Critical levels at 1.5753, 1.5821 and 1.5922 to the upside. 1.5603, 1.5585 and 1.5494 to the downside.
GBP/USD, August 2, 7am
GBP/USD, July 29, 11am
Cable in a stunning up move for the last (for me internet-free..) week. Expect a correction, or at least a false breakout below the trend line. I consider going short into the US session.
GBP/USD, July 29, 1pm
GBP/USD, July 29, 3pm UK Time
Beautiful move up from the 1.56 to the 1.5656 level. I was looking for countertrend shorts but missed the breakout to the downside and, hence, decided to look for the move back to the channel. All indicators confirmed the potential move up to the Weekly R2 at 1.5656, or, if you have the nerves, right up close to the 1.57 level.
GBP/USD, July 29, 3pm
GBP/USD, July 29, 11pm UK Time
I missed the first breakout from the trendline and successfully traded the retracement well above R1 at 1.5655. Cable formed a double top and suddenly fell down 80 pips to 1.558. The pullback was less than convincing and made it back up to the 50% Fib level. We are now trading below the Daily pivot (1.5617). Mycurrent bias is that cable is due for a correction down to 1.5573, possibly even further, after a 6 day up move.
http://bit.ly/anrkRL
AUD/JPY, July 20
Asia was active, as called by @tradercisco, and we finally we broke out of yesterday’s range to the upside and quickly moved to the next Fibo level, which also marks the upper end of a long term channel (marked in red). Like yesterday, this zone is very congested (Daily R2 at 76.4483, 38% Fib at 76.50, end of the range at 76.54 at 100% of the Fib at 76.77. Don’t buy in this zone before it clearly breaks.
AUD/JPY, July 20, 9pm UK Time
What a day. AUD/JPY made its usual move back and finally up to the next level, blasting quickly through the 77 level. I am seriously considering trading higher time frames and wider stops with volatile pairs like AUD/JPY. I got caught up a few times in the random oscillations and didn’t make the obvious pips. Note to myself: Only trade Yen pairs at extreme levels.
AUD/JPY, July 20, 9pm UK Time
NZD/USD, July 15, M30, 8am UK Time
Good morning everybody. Similar to my logic yesterday, I have picked a pair with a very strong currency -NZD- and a very weak currency -USD-. The pair has been in an up trend for 7 days in a row and is pretty likely to go down today, like AUD/JPY yesterday and for the rest of the week (please check out the AUD/JPY post for more info).
I drew a Fib based on the last push up (M30). 0.7242 was confirmed as the ceiling three times in a row and the pair has started to go down first to the 23 %Fib level and then close to the Daily S1 level at 0.7180. This has dropped already about 50 pips during Asia and another 50 pips during the early Europe session, hence, I expect some re-tracement before another move down. The critical decision zones are marked blue and I am looking for breakouts to the trendlines. Every pip NZD/USD goes up is great because it will enable me to go in short at a more attractive level. Note to myself: We are looking for highly profitable shorts, don’t get in with a long at statistical highs.
NZD/USD, July 15
NZD/USD, July 15, 8pm UK Time
After 7 days in an up-trend, NZD/USD decided to go up for another day! After forming a double top, it fell, as anticipated, to the 0.718 level, found support at the trend line and shot up, step by step, blasting through all levels, close to 0.73. Watch this level for direction, but it is statistically likely that this will turn around soon.
NZD/USD, July 15, 8pm UK Time
