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NZD/JPY Sustained Bullish Trend

Since mid 2012 NZD/JPY has started to move in an healthy and sustained bullish trend(see Figure 1) which ultimately will have to retest the 2007 all time high. Usually this type of moves last anywhere between 3-5 years so that's the reason why we can expect current momentum and trend to continue as long as there is no major event to change the course of this trend. If we look on the weekly chart we can see that there is no resistance to stop the price from further advancing so it's wise to assum…
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Update 1: Unfortunately we broke below the 85.60 support level and there is further scope for more downside here. Next weekly support level comes in 82.50 from where we can expect a bounce. It seems that I was wrong on this forecast as i didn't expected this correction

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Update 2: Even though we broke below 85.60 the downside momentum is losing any force and has started moving in tight congestion zones. Only a break above the big round number 85.00 could help the bulls. For next week support stands at 83.75 any break below that level can signal that my analysis is wrong and we may heading down.

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Update 3: It seems that we have put in place a new swing low as the market was unable to take out previous swing low. From here on we should expect only upside movement

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Update 4: It seems that I was right on this one and after we manage to put 83.30 swing low in place although the market spend a lot of time in range after the initial breakout to the upside the move was extended in the direction of the breakout and we come closer to our target. From here on we should expect only upside movement and take as support level current market price of 87.40. First resistance comes in at 88.00 but I'm not sure we have enough time for our target to be meet

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Short EUR/AUD. Trade Explanation

Currency Pair: EUR/AUD
Side: Short
Amount: 5Mill
Time Frame: 1h
Open Price: 1.435257
Close Price: 1.43236
PnL: +29pips
Open date: 18.08.2014 16:32:20
Close Date: 18.08.2014 13:46:52
Reasons Behind the trade: This trade was based just on technicals alone and more precisely on the momentum pressure. After we established the 1.43420 and had a little bounce that fact that we didn't had any follow through made me consider taking this short. The main trend was also to the downside so in order to have …
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Join Today's Webinar with Daytrader21


Hi guys,
If you don't know how to trade ERU/USD in coming months and you're lost in current ongoing consolidation environment, and wanna hear my own view join me at 8:30 GMT time (9:30 London Time) at today's webinar. Main topic of today's webinar would be: EUR/USD Trend versus Consolidation.

In this webinar I'm going to outline how to trade safely EUR/USD in coming months. Main topics of this webinar would be as follow:
  1. EUR/USD Technical Analysis;
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EUR/USD Bearish Trend Ready to Start

I've posted this EUR/USD analysis at beginning of the week in the Technical Analysis contest, you can find it here: EUR/USD Bearish Trend Ready to Start If you're following my blog post you should have know that I'm short this pair since beginning of the year and since I've posted this analysis the pair has already started moving to the downside. but right now we're at an important trend line which can temporary hold the fall in EUR/USD but in the end I see a breakout to the downside.
In the las…
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sonjatrader avatar

Daytrader21 you explain very well, like an open book!!! congrats for your post :)

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Sonia thanks for your kind words

jezz avatar
jezz 31 Jan.

There has to be a limit to EUR strength, or the exports will suffer. I guess 1,37 was the top limit, and the bearish trend will probably happen until January data from US start coming.
On the other hand, some countries are turning to local consumer spending (following Germany) to recover the economy. And we already see some results.

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Jezz that's only one of the problem with strong euro. Also I think the current euro strength was due to capital repatriation from emerging markets. Definitely Fed Tapering hit the nail in the coffin and was the catalyst for the EM crisis.

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jezz 31 Jan.

And that's why German constitutional court will not deliver the ruling any time soon, or is it the perfect time to say it's OK. Publicly buying bonds to have a back finance of struggling economies... US and EU zone are playing with some guns, I just wonder who will shoot himself in the foot.

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EUR/AUD - Trading With the Trend

Yesterday I've got in a long EUR/AUD position which I had to mange according to current market conditions. If you have been reading my blog you should know by now the importance of trading in the direction of the trend. I want to emphasize this: that no market is to high to be bought or to low to be sold. When trading with the trend you have the momentum going with you, and even though the market starts moving against you by having the momentum on your side you'll find that more often than not t…
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Aussie - Why I was shorting AUD/USD

You may be asking yourself why I've been shorting AUD/USD near the low. Many people wrongly assume that if a market has gone done "to much" and for a long period of time, the market must reverse. Well that's not reason enough for you to assume the current down move is over, we have to look at facts rather than personal opinions. Trading in the direction of the trend is much more easier than fighting the trend. Although I already posted some fundamentals reasons behind the current aussi
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AdamFx42 4 Dec.

Thanks for pointing out my mistake in my blog - I corrected it in the comments box (ADP Nonfarm - not NFP)

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Unfortunately I couldn't upload a chart with some notes to explain much more better the current situation

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