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NZDJPY Range Box Effect

Daytrader21 Przesłano 14 Maj jako Analiza NZD/JPY, Cel: 90.8400, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #Elliot Wave #Correction #NZD/JPY #Range Box #Price Structure
NZD/JPY has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the
bottom will use the middle of the box from beneath the price action where mos…
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Daytrader21 16 Maj

Update 1: Next week support level stands at the 88.00 level and previous swing low point, which is also wave X of our double zig-zag pattern, From here on we should expect either consolidation without the low to be taken our or a move straight to the upside.

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Daytrader21 22 Maj

Update 2: Since last week nothing much has happened as the market was moving inside a narrow trading range between 89.30 resistance level and 88.30 support level. The market may need another retest of the 87.00 level before going higher and resume the wxy pattern

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Daytrader21 29 Maj

Update 3: The 88.00 round number and support level has been again retested but we couldn't break below it. Look next week for a rebound. Right now we're in a tight range between 88.00 support level and the big round number 90.00 which act as resistance.

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Trading The UK Elections

Daytrader21 Przesłąno 8 Maj  w #Trader's blog #Gbpusd #UK Elections #Seassonality #Election Cycle #Price Structure
Usually since today is NFP report I would have write about that but I'm not in the right mood, so instead of doing that I'll take the time and talk about my last trade which it happens to be long GBP/USD. At this point you may think: what a lucky guy I'm since cable shoots +300 pips to the upside. Well if you haven't read my blogs from this month you probably have no idea that I have the innate ability to turn every great trading idea into something that is really frustrating.
My account balance…
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