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12042018 USDZAR SELL SETUP

Hello, my dear friends and fellow community members.
USDZAR has come back inside the symmetrical triangle on the daily chart. I am expecting it to now move to the lower rising trendline which comes at around 11.6870. So I have placed a sell stop order below the low of yesterday. Here is the setup. Happy trading to all.
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EUR/USD Short Trade 21Dec2017

I took a short trade on EURUSD at 1.1868 levels with a SL at 1.1895 and TP at 1.1820. After going above 1.1900 for a brief period, the prices were in a range for a long time and then fell down closer to 1.1850 today and a subsequent rise back towards 1.1880. I feel it will not break this resistance and the only way is down. If the down trend breaches 1.1848, it could travel a lot down wards. I feel it is better to take profit at 1.1820 and initiate a new trade if trends confirm to take another t…
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WrecklessTrader avatar

My assessment about the market directions were right. It broke 1.1848 with a sudden move and went all the way to 1.1816. This trade happened today (22 Dec 2017) morning. It was too early for me to wake up. When I opened the terminal, to my surprise the target price has been hit. And the price returned to 1.1848 and has been around that level for quite sometime. Once a clear trend emerges, I will take another trade in the direction of the trade.

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NZDCHF H1

Hi Traders and Friends ..
NZDCHF current rate @ 0.69000
it face strong resistance @ 0.69090
it's good to enter short position
stop loss : above resistance with 10 pips @ 0.96200
target : the minimum target fibo 38.2 @ 0.68540
good luck
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EURNZD H4

Hi traders and friends ..
Eurnzd current rate @ 1.5844
price in over bought area .. bollingar band
and other oscillator agree with it .
its good for taking short position @current rate
minimum target : 1.56410 ( fibo 38.2)
stop loss : 1.59501
good luck
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AUDJPY MAY BE SOLD | 09032017

Hello my dear fellow community members,
The AUDJPY has broken below from a rising trendline. A pullback is anticipated to the trendline and get rejected to sell it. Here is the chart showing the setup.
AUDJPY DAILY CHART
I am looking for a pullback to enter SHORT.
Any comments or suggestions about the setup are welcome.
Happy trading.
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4 JAN 17 GBPUSD BEARISH SETUP UPDATE

Hello fellow community members,
We had discussed a sell setup forming in GBPUSD yesterday here. Today after FOMC minutes the pair jumped above 1.2325 for a short time and found a huge resistance and at the time of writing this post a bearish pin bar formation was in progress. I have attached a snapshot of the chart. I have already taken a short position with the stop above today's high and target at 1.2100.
GBPUSD 4H CHART
What do you think about this setup? Please share your opinion using the…
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19 NOV 16 USDJPY SELL SETUP

Hello fellow traders,
Today I have spotted a probable sell setup forming in USDJPY at the confluence of the 61.8% retracement of the fall from the high of 17 Nov 15 and low of 24 Jun 16 and the horizontal support at 114.30 levels which is likely to turn into good resistance level. So here we may see some price action and a sell set up may form. But i will look for a very strong bearish engulfing or the pinbar candle to enter a trade as the ongoing momentum on the upside is huge.
As of now there …
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FOMC members don't get appointed for their sense of humour

2010 Fed transcripts have some lighter momentsThe WSJ details the lighter side of the Fed discussions.These are the best two exchanges in a year of meetings. Needless to say, a two-day Fed meeting falls distinctly on the 'dry' side.The Fed's top international economist, Nathan Sheets, summed up the state of Greece by noting its "apparent slide from advanced economy to emerging market status" during its crisis:CHAIRMAN BERNANKE. If a country goes from advanced status to emerging market, is th…
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NZD/USD to continue sideways

Monthly chart:
In January, the pair busted 100 month SMA, 38.2% retracement of the 2009 to 2011 uptrend and the low of the 2011 to 2014 trading range around 0.7350. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the longer term downtrend. In June, 0.70 and 50.0% retracement of the 2009 to 2011 uptrend (0.6868) were convincingly broken and the pair fell to almost 0.60 during July and August before it…
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al_dcdemo avatar

UPDATE 1: Kiwi broke to new six-year lows on Tuesday but the breakout proved to be fake as the pair rejected lower prices and rallied into the close. It was also the pair that took the most out of yesterday's commodity pair rally. Profit taking in GBP/NZD and EUR/NZD might have also been a factor. However, sellers were quick to step back in after hawkish remarks from Yellen.

al_dcdemo avatar

UPDATE 2: ANZ Business Confidence is the only noteworthy data point from New Zealand on next's week calendar. However, month-end and quarter-end flows combined with a slew of US economic events (Fed speakers, CB Consumer Confidence, ISM Manufacturing PMI and NFP report) will most likely provide decent volatility. 0.6225 - 0.6450 is the range that is protected by 50 DMA on the topside and strong support into 0.62 (also July 2009 low) at the bottom.

al_dcdemo avatar

UPDATE 3: The pair started the week on a softer note but after 100 pip fall it pulled right back into the middle of its recent trading range between 0.6250 and 0.6450. Despite weakness in commodities and general risk-off sentiment, indecision has been the name of the game in the pair during the past few weeks. It may be that it has fallen enough, but most likely it's just another pause before continuation lower.

al_dcdemo avatar

UPDATE 4: Kiwi traded mostly in the upper half of its recent (0.6250 - 0.6450) range this week which may signal that an upside break is in the making. Range top coincides with 50 DMA at the moment and, if the pair manages to break and hold above it, revisit of 0.65 - 0.66 zone is quite likely. However, we must be wary of a false breakout too as the longer-term trend is still to the downside.

al_dcdemo avatar
al_dcdemo 14 Paź

UPDATE 5: RBNZ governor Governor Wheeler sent Kiwi tumbling by saying that "some further easing seems likely". That's nothing new as that's the exact line from the last rate statement but it came at the time when many traders were looking for excuse to book their profits after 500 pip rally from the low set in September. The decline stalled at 100 DMA, just above the broken trendline drawn off July and August highs. Should the pair continue to fall, 0.64 - 0.65 band (50 DMA, 50.0% retracement of the rally, September high) is the potential target.

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NZD/USD will remain heavy

Monthly chart:
In January, the pair busted 100 month SMA, 38.2% retracement of the 2009 to 2011 uptrend and the low of the 2011 to 2014 trading range around 0.7350. February, March and April were more or less range-bound, but in May the pair broke to the downside strongly in what proved to be continuation of the longer term downtrend. In June, 0.70 and 50.0% retracement of the 2009 to 2011 uptrend (0.6868) were convincingly broken and the pair fell to almost 0.60 before pulling back.
Weekly cha…
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al_dcdemo avatar

UPDATE 8: ANZ Business Confidence is the only noteworthy data point from New Zealand on next's week calendar. However, month-end and quarter-end flows combined with a slew of US economic events (Fed speakers, CB Consumer Confidence, ISM Manufacturing PMI and NFP report) will most likely provide decent volatility. 0.6225 - 0.6450 is the range that is protected by 50 DMA on the topside and strong support into 0.62 (also July 2009 low) at the bottom.

al_dcdemo avatar

UPDATE 9: The pair started the week on a softer note but after 100 pip fall it pulled right back into the middle of its recent trading range between 0.6250 and 0.6450. Despite weakness in commodities and general risk-off sentiment, indecision has been the name of the game in the pair during the past few weeks. It may be that it has fallen enough, but most likely it's just another pause before continuation lower.

WallStreet6 avatar

Great analysis as well! And quite close to the market price, may still get closer.

fxsurprise8 avatar

great forecast, will come down to the wire tomorrow

al_dcdemo avatar

Thanks to both!

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