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thepipswizzard's Blog

thepipswizzard's Blog

EURUSD to reach for higher values

thepipswizzard Veröffentlicht 6 May in #Trader's blog

I would say the triangle just broke higher and a clear abcde move but, what people don't realize is the fact that the level to be broken on the move to the upside is not given by the previous 1.3966 area but by the all important 1.3922. The reason for that is the fact that price formed a contracting triangle on the previous high and that is all that matters.
In other words, now that the 1.3922 is broken, I would say 1.40 would come sooner rather than later. It remains to be seen if we have so…

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Bearish Aussie

thepipswizzard Veröffentlicht 28 Apr. in #Trader's blog

Dynamic support has been broken and judging by how well price is trending here in this channel I would say it is just a matter of time until 0.92 will be broken.....so, long story short, stay on the short side until 0.92 is reached and then prepare for the upper part of the channel to come...
I would say usdcad is more bullish than audusd is bearish so those flows will come to influence this pair as well.
Make no mistake the main event markets are looking for is NFP this Friday, and not th…

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USDCAD to run higher

thepipswizzard Veröffentlicht 27 Apr. in #Trader's blog

Like the name suggests here I am quite bullish on the usdcad as the pair is forming a triangle right below a potential inversed head and shoulders pattern and the measured move shows something like 1.1180 area to come. This triangle is a continuation pattern and in light of the FOMC to come I would say the US dollar will move higher across the board on the Fed continuing the tapering process started some time ago. News out of US were mixed but the economy is not deteriorating. It remains to be s…

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X wave for GBPUSD means lower values to come

thepipswizzard Veröffentlicht 25 Apr. in #Trader's blog

After a common flat completed market formed yet another flat, of the same degree, but seems to be only an x wave, or an intervening x wave as it is also called.
This means another corrective wave to come, most likely a zigzag this time as on the bigger picture it seems we are having a contracting triangle on the bigger time frames.
It remains to be seen how this Friday will end up. Price action is bullish now, but sentiment may change in a blink of an eye....waiting for London for directio…

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EURUSD not feeling well here

thepipswizzard Veröffentlicht 24 Apr. in #Trader's blog

b-d trend line broken and in my book this is a bearish break, looking for 1.3750 area to offer support next.....should we bounce from there? well, it is too early to tell but at least the thrust of the triangle should come and that would be the minimum target. I would be careful in the 1.3740-60 area as bulls are watching carefully still....
I would say this one is still only a leg of a contracting triangle as it is being made only of corrective waves out of a lower degree....in our case, it …

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EURUSD still looks bullish

thepipswizzard Veröffentlicht 22 Apr. in #Trader's blog

Still a bullish eurusd in the sense that what we are having here is a possible b wave out of an X wave of a bigger degree or just a classical zigzag with an impulsive move to come. This impulsive move is mandatory to break the 1.3920 highs and I would say that this should put pressure on the psychological 1.40 level.
The thing is that the tone the pair is having is a clearly negative one, or bearish, but for whatever the reason this area provides quite a nice support.....it remains to be seen…

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Bearish GBPUSD

thepipswizzard Veröffentlicht 21 Apr. in #Trader's blog

What you're seeing on the chart above is a so called dynamic resistance and the thing is that this one usually comes with fake moves so what I would like to see here is a rejection from current levels and a drift lower towards 1.67 area. I am really not asking for much as this market seems to be unable to fight above the all important 1.68 level. At least not now.
Therefore, it just made a new high, but only a marginal one, sucking bulls in, and now about to offer them a big disappointment. I…

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Bullish usdjpy to come

thepipswizzard Veröffentlicht 19 Apr. in #Trader's blog

Bullish usdjpy in my point of view as we have a possible pennant on the lower time frames and this should be coupled with the double flat already completed.
The thing is that the recent move to the downside, the impulsive move in blue you can see there is most likely a c wave of a bigger degree and now we should go and probably make new highs when compared with the ones in the 105 area.
What does this mean for markets in general? Well, first thing to come to my mind would be higher equitie…

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EURusd

thepipswizzard Veröffentlicht 18 Apr. in #Trader's blog

I don't know what you are seeing when looking at the four hours chart but I see a previous bearish trend that broke higher and now price forming either a flat or a contracting triangle (most likely a contracting triangle) that should result in a move higher.
So I am bullish on the pair and intend to buy it next week as well as today markets are petrified as all the banks are being closed. With no banks, there is no liquidity and with no liquidity, price is not moving. It is as simple as that …

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Bullish cable as a triangle ends on 4h chart

thepipswizzard Veröffentlicht 16 Apr. in #Trader's blog

Like the picture above shows, a triangle is completed on cable and that means we should break the b-d trend line fairly quick and doing so we are finishing a corrective wave so this must me an impulsive move.
Saying that, looking for an extended wave to come and therefore the price action for the rest of the week should be bearish for the usd.
We had two boring days for trading this week and if it weren't for the jpy which just is being sold due to better than expected Chinese gdp I would say i…

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