Open trading account 
"The market can stay irrational longer than you can stay solvent" and this aphorism is more true than ever if you look at GBP/JPY. Since mid April this market has gone in straight line for 10 consecutive weeks posting the longest weekly green run since 1995. We didn't had 10 green weekly candle since 1995 when the yen hit a peak of under 80 yen per dollar. Taking in consideration this long stretch and the fact that this pair looked extreme overbought I was expecting to see some retracement a…
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GBPUSD Fractal Map Part 2
Cable's price action looks quite familiar and it's a fractal of the 1992-2000 price action (see Figure 1). We can see that the massive sell off in the 90's resemble the sell off that we had in 2007-2008 and going forward both sell offs have seen a 66 months retracement. Not only that the price action looks similar but also time wise this fractal looks similar. This fractal will suggest that eventually we'll have
to see another major swing low below 1.3490 before the market to enter in the next p…
to see another major swing low below 1.3490 before the market to enter in the next p…
NZD/USD Bearish Flag (part 2)
This is a continuation post from 2 months ago forecast which has not yet reached the final target projected of the bearish flag formation posted on the weekly chart. NZD/USD is posting and interesting bearish flag pattern on the weekly chart which is basically a continuation move. After we failed to make another high above 0.8850 during the last summer we have sold of without any kind of retracement however this doesn't mean we should have a pullback, quite contrary this bearish flag is absorbin…
GBPUSD Fractal Map
Cable's price action looks quite familiar and it's a fractal of the 1992-2000 price action (see Figure 1). We can see that the massive sell off in the 90's resemble the sell off that we had in 2007-2008 and going forward both sell offs have seen a 66 months retracement. Not only that the price action looks similar but also time wise this fractal looks similar. This fractal will suggest that eventually we'll have to see another major swing low below 1.3490 before the market to enter in the next p…
NZD/USD Bearish Flag
NZD/USD is posting and interesting bearish flag pattern on the weekly chart which is basically a continuation move. After we failed to make another high above 0.8850 during the last summer we have sold of without any kind of retracement however this doesn't mean we should have a pullback, quite contrary this bearish flag is absorbing all the bids. Usually you measure the length of previous sell off and project that move to the downside in order to find the next leg target.
If we project the prev…
If we project the prev…
AUD/NZD Multi-Decade Support Level (part 5)
AUD/NZD is approaching a multi-decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the monthly chart and the strong sell of from the past few months. Since April 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement. But since we hit the 1.0500 level market has started to bottom and move inside some trading boxes, on top of each other. However…
Why are XXX/JPY Currency Pairs Rebounding?
Last week I've been giving out my own analysis on the yen pairs,arguing that we may see a rebound in the XXX/JPY currency pairs, you can find my blog post here: Still Confused about XXX/JPY Sell Of? What's next My whole analysis was around the point that Nikkei index which was at an important pivotal point is about to resume the uptrend and thus dragging the XXX/JPY pairs in the direction of the main …
Still Confused About XXX/JPY Sell Of? What's Next
Still confused about XXX/JPY sell of? Read my blog. If you're confused about recent development in XXX/JPY pairs let me bring some light on what's happening currently with yen pairs. I've been forecasting this retracement in the xxx/jpy pairs since last year, you can check out my blog post here: FX Market Outlook - JPY (part 1)
- Figure 1. 1989 USD/JPY fractal for today's price action.
AUD/NZD Trade pattern idea
AUD/NZD is approaching a multi decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the monthly chart and the strong sell of from the past few months. Since Aprill 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement.
On the Daily chart we can see much more closer the recent price a…
- Figure 1. AUD/NZD Monthly chart, Multi Decade Support level.
On the Daily chart we can see much more closer the recent price a…