Let me start of by saying that symmetry in Harmonic Patterns is not a requirement. It's simply fuel to the fire. It's all the more reason to believe that it'll successfully play out. The strongest patterns bounce off convoluted areas of harmonic ratios. In this example, not only do we have the Bat formation, but also an AB=CD within the Bat's CD leg. This could...
The past few days I've shared my trades that the yen will continue declining in value, and that now was the time to short it. Specifically, I have trades on to go long AUDJPY and CADJPY, and a pending order to go long GBPJPY. And now, I'm adding a long NZDJPY trade to this as well. By now the setup is familiar: the pairs were all trending up, but have recently...
We've been waiting for the bearish Cypher on USDJPY for a while now and as the market churns legs for multiple other advanced patterns have been created as well. The smaller bat is the only one on my current radar with the others in the back of my mind for a possible completion later in the week as we get into more oft he fundamental announcements.
We've been seeing CAD strength, as well as JPY weakness over the past few trading sessions......and so long CADJPY was only a matter of time. And now, the time has come! :) I'm going long at 94.33, where we have a support level that recent candlesticks are forming a wick around, suggesting buyers are stepping in to defend. Also of note is the presence of the 50...
The Yen has been building in strength through the summer. Here price has entered in to a small range(within a larger downtrend), with price being rejected at the .618 fib retracement and the resistance line, which created a confluence of resistance. Recent candle wicks show rejection at the 101.800 level, so I suspect this retracement may becoming to an end. ...
Friends, As twitted yesterday (See: "$TNX reached forecast support last month; now threatens loftier rally - Watch $USDJPY" here: twitter.com), a discreet break of overhead resistance indicated a potential rallying to new highs. This comment concerned a simple analysis of the benchmark 10-Year US government bond ($TNX) relative to the current positively...
The 6J is officially dead in the water. We will avoid this until we see defined breaks. See our last posts for break areas. If you think you "must" trade it...understand it's going to be choppy ride and it will most likely eat your trade account. Be patient and find a better instrument to trade. Keep your powder dry.
Like a rolling surfable wave that builds up before it crashes, the technical indicators tell us that the AUDJPY is about to fall.
Everything is said on the chart. One can see my previous analysis published. It looks like we can buy at around 101.5 and sell around 103.5 The swing trade model.....
The 6J has broken out (minor) to the downside and we are at the go-no go area. Aggressive traders will sell this area. We are being very cautious due to the recent false breaks. We choose to sit this out until we see a better break. What does that look like? If we break 9725 on the down side we will nibble (very small) to the downside. If we break 9920 on...
I use the currency forecast poll and compare my own view on the market with the experts who get paid for their forecasts. In this case I have used the USDJPY. I believe that the technicals signal a move down to about 101.5. Here is what the pros say: www.fxstreet.com I also use the awesome oscillator. When we see the awesome oscillator move below the zero line,...
Would only take a target 1 to the 38% fib level. Since the overall daily chart has a gigantic Bearish crab pattern. I've already scaled out of my short position after spotting this pattern. My overall bias on CADYEN is bearish. If we can get a rally and drop, i'll scale in another lot. let's see what happens.
1. Support Broken. 2. Macd increasing momentum down. 3. CCI falls out of Channel. 4. Falling RSI, 5. Starting to drop 20 MA, at the moment platau though should fall shortly. GDP increasing in Japan and return to inflation.
Friends, Here is a short update: Since the signal announcement this yesterday, the $Yen plunged gradually, then precipitously towards the forecast TG-1 = 101.631. This signal followed a preceding bullish signal that say all three targets getting hit consecutively, before we turned to this short-term short opp. At this point, TG-1 remains in force and intact,...
There are many commentators and fundamental analyst as they continue to review and propagate how brilliant Abenomic is and how they will continue to flood the world with YEN in the form of Japan's version of QE, YEN will continue to weaken beyond anyone's expectation and warped view of seemingly continued massive USD strength going forward. I this this is over...
Friends, As indicated in recent predictive/forecasting model commentary, USD has gained strength. Applying a EW model, one might appreciate a supportive argument for the proposed bullish bias of the predictive/forecasting model. Fundamentals also suggest strengthening of the greenback against a continued dilutive monetary policy. Net outlook is BULLISH for...
After watching the Japanese Yen trend lower for more than 77 weeks it appears we are now starting to see the smatterings of a bottom coming in on the currency. While it may be a bit early to 'pound-the-table' I do see an interesting opportunity presenting itself within the options space. According to my very strict WCTS model, I can only consider a long position...
Friends, TRADE PROFILE: Only three days ago, I took the opportunity of a long entry based on a daily chart which confirmed support near the 87.350 level. A layered analysis comprising my prop predictive analysis and forecasting favored a bull directional bias with a series of bullish targets of moderate-probability quality. Despite being a technical analyst, I...