Gold XAUUSD Trade Setup for 24th March, 2014

Gold XAUUSD Trade Setup for 24th March, 2014

Hourly Chart

Outlook Trade opportunity

Have went long after a 15min pin bar from the 88.6 fib level, near term support. Looking for 1340+

Also is a cypher pattern

Cheers

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

EURJPY Forecast and Trade setup for the week 24th March, 2014

EURJPY Forecast and Trade setup for the week 24th March, 2014

Daily Chart

• Stochastics is having a positive divergence, however due the the market condition of the Nikkei index, I am biased to the downside

Hourly Chart

• Broken ascending trendline
• Negative stochastic divergence
• Ichimoku Clouds is nearing which could do as resistance
• I also see a cypher pattern complete right now on the hourly / 4hr

Outlook Trade opportunity

At writing this analysis, I have entered a short position targeting 139.90. However risk is high as we are trading close to support than resistance.

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Weekly Forecast and Trade Setup for 24th March, 2014

AUDUSD Weekly Forecast and Trade Setup for 24th March, 2014

Daily Chart

Note - the small Daily Candle is actually a Sunday (my brokers Timezone)

• After the news from the FED it performed a bearish day last Wednesday, However market performed a bullish pin bar on the following day, and the bullish momentum did carry on till Friday
• Also the Major crosses to the USD, the Aussie was the most resilient.
• Most importantly we have had already couple of days which we are closing at this strong resistance (Monthly Pivot R1, and this weeks Weekly Pivot), This shows to me that there is still strength to the upside
• I believe there is one more leg up towards the 0.92-0.925
• There is a ascending channel which we are in
• Note that there is this harmonic pattern (cypher) which completes around 0.93

Hourly Chart

• Chart is taken around noon Asian session (monday) - you will see the 4hr pin bar (news affected sell off but rebounded)
• The Ichimoku clouds on the 4hr, is not far away, and could provide resistance to push the market to trade above 0.91

Outlook Trade opportunity

Any pull back towards 0.9030 would consider to open longs

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Potential Levels to look for bounce / Scalp

AUDUSD Potential Levels to look for bounce / Scalp

• There are two levels today which has good confluence for a bounce
• The first one is at the 38.2 / 50% / 161.8 confluence (however this is done already and I have scalped this for 15pips
• The Second one is a 200ext / 61.8% / Daily Pivot S1

Tips -

Always take note of any economical news event on our provided calender below

EURUSD Forecast and Trade Setup 20th March, 2014

EURUSD Forecast and Trade Setup 20th March, 2014

H4 Chart

Looking for a bounce here from this falling knife ... as usual

• Broken ascending chanel

• Potential price to stall at the highlighted level / light blue level (1.375 approx)

• Overlapping Fib, + potential harmonic pattern completion

• US Dollar index is also close to my resistance

Cheers

Risk Level Medium to High - catching a falling knife

Tips -

Always take note of any economical news event on our provided calender below

GBPNZD Forecast and Trade Setup for 20th March, 2014

GBPNZD Forecast and Trade Setup for 20th March, 2014

Hourly Chart

Both charts is H1, (One with Pattern drawn in one without)

• We are trading into resistance, and with Price action performing minor pin bars, I was not too convinced to take a short due to the recent bullish momentum
• And the fact that price has been sitting around this area, is not appealing to me for a short

• I'd be more intended to short it at the confluence of the 78.6fib and 161.8fib ext and a trend line which also can be a bat pattern
• Stochs will also diverge if so

Outlook Trade opportunity

Short at 78.6

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD - What upcoming resistance do we have in play?

AUDUSD - What upcoming resistance do we have in play?

Daily Chart

• Fib Ext 127.20 is a strong resistance, and if we do break there, the next major is the completion of the cypher pattern.

You will see i have a Sell Zone which starts beneath this potential cypher pattern. Stops will be above 0.94 if i were to trade this for a medium / long term trade

I'll have a detailed analysis later guys.

Cheers

Hourly Chart

Outlook Trade opportunity

xx

Risk Level __

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Will It break into the 0.915-0.92 ? Today?

AUDUSD Will It break into the 0.915-0.92 ? Today?

Just a quick chart.

Cheers

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AUDUSD Example of Scalp during Asian Session 19th March, 2014

AUDUSD Example of Scalp during Asian Session 19th March, 2014

Wanted to show you another example of an easy scalp
Did not wait for a confirmation entry / noble entry on this one because of the strong level of confluence and the strong bullish momentum from the previous day

There was also a 5min stochastics divergence, and other TF stoch is also showing similar indication.

I risked 5% on this trade and got return 10% gain 

Cheers

EURGBP Possible Cypher Setup On the Daily Chart 18th March, 2014

EURGBP Possible Cypher Setup On the Daily Chart 18th March, 2014

Daily Chart

• The completion of this pattern is at the 78.6 which is also an area which has been respected as an S/R - This makes a higher probability if this trade was to take place

Outlook Trade opportunity

Bearish Cypher is looking good if market is to retest an important S/R area.

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD - LIve Update - as we bounce of trendline

AUDUSD - LIve Update - as we bounce of trendline

My bias since 2 wks ago for the Aussie is still towards the around the 0.92-0.93, therefore I am looking for clues if there is a continuation of an uptrend or if I am wrong.

• Bounced of the broken descending trend line, which could provide support and bounce?
• However I am more happy if prices retraced 20pips lower around the 0.9050 / 50% fib from yesterdays swing low to high

I have a small long position 

Cheers

USDJPY Level to watch today for a possible scalp? 18th, March, 2014

USDJPY Level to watch today for a possible scalp?

1 Hour Chart

Total of 3 x confluence / overlapping

Area to watch today is the Confluence levels of Weekly Pivot + fib 38.20 + Inverse of todays swing of 127.2 fib ext.

Also on the second chart, the same area is also the top of the kumo clouds which acts as resistance

Have drawn some predictions of possible stochs divergence.

Outlook Trade opportunity

Short Scalp

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

GBPUSD Forecast and Trade Setup for the week 18th March, 2014 - Gartley?

GBPUSD Forecast and Trade Setup for the week 18th March, 2014

- Do we have a Gartley? 

or could a deeper retracement is needed as price hits a fib 127.2 fib ext?

Weekly Chart

• Stochs is starting to diverge and crossing and close to trading below 80 (note we have been trading in a stoch's overbought for quite some time)

Daily Chart

• Price has stalled and rejected from the Inverse Fib Ext 127.2 of the big drop in 2013
• However we are still trading above new support / monthly pivot
• The next resistance is only spotted from a weekly, which we have highlighted in Yellow

Hourly Chart

• Current Stochastics is showing strength to the upside, however price action from last week suggest perhaps a lower low is in favour
• Although the Fib 38.20(from feb low to high) with confluence of previous resistance, and current monthly pivot  is extremely important level to hold if we continue to bullish trend.  It is possible for price to break this support as a false break and bounce back up. Reasons are
• We have an ascending trendline at a Fib 50 level
• We have a possible Bullish Gartley Harmonic Pattern also at the same area of the fib 50 and trendline
• If prices were to retrace back to the fib 50 level, Daily Stochastics could have a positive divergence which will strengthen the trade

Outlook Trade opportunity

Possible Bullish Gartley - And if so, would take partials if prices goes back to the broken support.

Risk Level Low to Medium

Tips -

Always take note of any economical news event on our provided calender below

Nikkei Forecast for the week 17th March , 2014

Nikkei Forecast for the week 17th March , 2014

Weekly Chart

• We are trading very close to the Weekly Clouds which could act as support.
• Last week was a very bearish candle (Engulfing)
• If current support is to break, the next level will be the 78.6 retrace then the 100 retrace 

Daily Chart

• Last Friday saw prices test the 88.6 fib level (from the Feb Lows to the March highs )
• My Bias for the Nikkei is to test the 14500 , if we manage to break above next resis will be 14800

Outlook Trade opportunity

I identified a cypher last week at the 78.6 however the price did went to 88.6 level,
If your long, i would TP at the 'B' of this pattern

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

USDJPY Forecast for the week 17th March, 2014

USDJPY Forecast for the week 17th March, 2014

Weekly Chart

• Last week's Candle action is pretty negative, however have closed the week pretty much eating all the gains from the previous week but not penetrating its lows
• Lower body of the Weekly Candle is flat for the last three weeks showing respect the 50% retrace level support
• Stochastics is rising 

Daily Chart

• On the daily, it is easy to see that the current support level has been respected 4 times (including Last Fridays)
• We have fallen back below the clouds
• Be aware that Stochastics is performing a lower low, but the price did not perform a lower low (we have same lows)
• My Bias is that the market could retrace to a fib 50 level / which is also where the clouds are

Hourly Chart

• Both charts are H4 -

• There are two obstacles to go through this week if market was to retrace back to fib 50/61.8 level where it is also where the Clouds are (more strength to act as resistance)
• Weekly Pivot and Monthly pivot both is between the 23.6 and 36.2 level, , and if we look left, there is minor s/r there

Outlook Trade opportunity

Since Friday Night, I have a long on the USDJPY .

Please also consider the Correlation between the Nikkei (I have an analysis on that as well)

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below

USDJPY Cypher scalp at support

USDJPY Cypher scalp at support

Outlook Trade opportunity

Potential to get long at 78.6 / cypher pattern.
Always know how to trade and know the rules for Profit targets 1 and 2 and beyond

Risk Level Medium to High

Tips -

Always take note of any economical news event on our provided calender below

Nikkei Possible Cypher / or some pause at least? - 14th March, 2014

Nikkei Possible Cypher / or some pause at least? - 14th March, 2014

H4 Chart

Outlook Trade opportunity

Possibly Looking for support confirmation on Yen FX pairs and go Long

Risk Level Medium / HIgh

Tips -

Always take note of any economical news event on our provided calender below

USDCHF Forecast and coming Potential Support level

USDCHF Forecast and coming Potential Support level

Monthly Chart

Daily Chart

• As we break previous support, There is a wide gap until I can see any support - (You maybe able to see on a weekly chart)
• Using fibs retrace and ext, i have identified a potential strong support level which also is few pips BELOW possible supply demand area on the weekly chart.

Summary

If Market is to get to those areas, there would be a possible trend change perhaps (should see the US Dollar Index chart to confirm)

Cheers

GOLD XAUUSD Trade setup - Potential Cypher 12th March, 2014

GOLD XAUUSD Trade setup - Potential Cypher 12th March, 2014

Daily Chart

• As gold pushes higher, Stochastic are diverging

• RSI also diverging

Outlook Trade opportunity

Short at the 78.6 around 1390

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Mid week update 12th March, 2014 - Have we found support?

AUDUSD Mid week update 12th March, 14

Daily Chart

Hourly Chart

• On the H4 chart we have a 200ma with current candle having a rejection
• Ichimoku clouds - H4 we have broken below, however notice the clouds being very thin, which is to say that the S/R of the clouds are weak
• At the same area, the second view of the H4 chart we have a 88.6 and weekly S1 pivot confluence
• We are trading very close to support on the H4

Outlook Trade opportunity

I will be happy to take Long position trade perhaps after a H4 candle confirmation candle

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Scalp Trade - Confirmed Entry with Noble setup

AUDUSD Scalp Trade - Confirmed Entry with Noble setup

Note - This is a 1 Min chart (i Don't usually post any 1 minute chart, but i know a lot of newbie looks at a smaller tf wanting fast trades)

• I took this after a very good bounce from this area (which i have caught with my "catching a falling knife post"
• My entry is my classic strategy ("Noble Entry" I do my high probability scalp trades - here is a blog post about it
• Now i only take trades when price retrace to a 78.6 - so to minimize risk
• Currently still in trade looking for close to 1:2 (risk reward)

Cheers

Update - Trade completed (approx 30min after trade)

• I've taken half postion off when it reached 1:1, then the rest to initial TP 

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Live aussie Scalp

AUDUSD Live aussie Scalp

Catching a falling knife...

• 88.6 fib, and fib ext of asian range
• and WS1 pivot

Not looking for much, just a scalp at this stage

AUDUSD Update 12th March, 2014

AUDUSD Update 12th March, 2014

Daily Chart and H4 Chart

• Daily, we are hanging in the upper side of the clouds (barely)
• Strong bearish momentum after the highs from last week (Giving back more than half of last weeks gain)

H4

• During Asian session, price held at the 38.2% fib level of the swing from the low
• A 78.6 fib retrace is a confluence of a 161.8 fib ext of the first swing of the retrace which gives it more strength for a bounce scalp trade

Outlook Trade opportunity

H4 - I would be looking closely at the 78.6 fib retrace today for a potential scalp

*Important Data is out tomorow

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Trade Setup for 12th March, 2014

AUDUSD Trade Setup for 12th March, 2014

Hourly Chart

• 38.2 from the Lows to high
• Few pips below is the overlapping Daily S1 Pivot and 78.6 of most recent swing 

Tips -

Always take note of any economical news event on our provided calender below