AudNzd breakdown on short time frame

I have been watching this pair for some time now and never took any action bacause I was not sure of the pattern it was about to form.

After riding high on this pair from my analysis on 5th May (read here), I predicted a downward move (read here) and labelled 1.0641 as my projected magnetic zone to search for buying signal. 

Price has been moving downward since then in complex wave patterns but my level has not been reached.

I believe this level could still be reached and I am watching closely. Meanwhile I saw a good market structure to profit on H1.

The recent bearish retracement is getting to be a deep one and I have marked 1.6090 and its neighborhood for a strong magnetic zone to search for buy signal
Recently on H1, we have seen the successful formation wave 1,2and 3. Wave 4 about to complete after forming what looks like complex reversal pattern; and with a bearish gartley.
I intend selling this pair to ride to 1.6090 if the the rising channel breaks downward.

UsdJpy Bearish Movement Continuation

I have gotten my hands really dirty watching this pair since yesterday. I wanted to wait till the end of today before posting. A friend of mine alerted me on facebook and I thought I have to put the analysis together for those who care for it. Now let's go

I benefited from the long bearish trend which started in April picking 220pips( though I didn't share here).                                                                                       The  bulls take over for a minor retracement and at a point I sold ( check the analysis here) and was stopped out at break even. Shortly afterwards, it dived down and my eye balls were rolling for missing a party i was suppose to be part of . This is Forex!

Presently,on the H4, we have confluence of events between 101.87 and 102.05 which is the level that should end the second correction of the downtrend that started in April. At this same level, we have a retest of the triangle and a channel formed by wave 2 and the efforts of the market to drive down to wave 3.

Market hasn't gotten to the minimum projection for wave 3 so the recent up-move could be a mere correction. A strong move downward is expected to break 101.10 and 100.75.

On the H1,we saw the end of wave 5 of the downward move that started on 13th may which is being corrected by an ABC-61.8% (at the reversal zone mentioned) zig-zag wave correction. Coupled with this is the potential formation of a deep crab harmonic pattern which is expected at the reversal zone mentioned.
The reversal zone mentioned should be a very strong magnetic zone for price indicating the continuation of the trend. Market is expected to react at this zone and i will watch out for reversal signal with my special entry strategy

On the other way, if price breaks the zone with a high momentum, then something else is happening and all this long analysis could be rendered invalid.

The analytical charts (H4 and H1) show the levels...Check it out

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Now EurAud is saying something!

This pair, in the recent months, has been moving southward with beautiful wavy patterns. I don't think it is ready to stop doing that despite the recent upward push.

Going by my wave count, wave 4 has completed and a move to the region of 1.4560 suggests that wave 5 is ruling. With the recent up-push, it appeared that wave 5 could be through. But a proper look suggests that wave 5 has not reached its minimum projection level.

Presently, we see this pair resting on a very strong resistance ( with the convergence of 4 parameters) after an ABC-61.8% harmonic reversal pattern successfully formed ( at least potentially) on H4. This suggest that wave 5 has not completed yet and a strong move is now expected downward to 1.4560 and 1.4140 ( for the stretched term).

I am expecting a candlestick bearish pattern on H4 and some other parameters to align  and then sell this pair expecting large move.

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The Bears may not be done with GbpAud yet.

On 4th May, I forecast a bearish move of this pair and the move was just right. I hit my secong target with 350pips and the last part of my trade was stopped at +235pips. Not a bad result at all.

The downward move was quick and massive, broken the first trendline (in magenta colour). 

At the moment of typing this information, price retraced fast to retest this trendline and a sumptuous pin was formed on 4H and 1H with a Gartley ABC correction of the last bearish move.

I will sell from here and hope I can take my full target at 1.7500 but I will take profits along the way and ride with the trend if market decides to move this way.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor, fund manager  or  Get 1 year free signal and trade what I tradee-mail-sanmiadeagbo@yahoo.comFacebook- sanmi Adeagbotwitter- ForexelytePhone no: (234)08134820569

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UsdChf not ready to break the channel

I can't remember the last time I traded this pair but I won't overlook the set-up it's forming at the moment.

This pair has been in a bearish channel since october 2013 and it's not broken yet.

Presently, after a flat correction pattern formed, we could see this pair continuing the bearish trend and probably break out of it.

Looking at the daily chart closely, a pin bar reversal candlestick bearish pattern has just been formed at a very critical level. Markets rarely ignore this kind of set-up. I will look to ride this pair downward. I hope I can enjoy it

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UPDATE ON AUDNZD

Seriously,this pair is looking so good to me with elliot waves and swing patterns forming into place. After having a ride up with beautiful pips, I predicted a dip on 8th May, you can read here. 

Though I didn't trade this dip and those that traded should be enjoying their trades now if their stop loss was not too close. They still have the opportunity to ride to 1.074 or thereabout for minimum of 80pips (that isn't bad at all).

But I see a new buy interest at the level 1.076 -1.073 and a great bull ride should continue from there. This zone is very magnetic with a potential deep ABC correction/bat pattern.

I will watch out for price action at this level and anticipate a bullish set up with my entry strategy. You can also watch out for this level.

Get the feel with the analytical chart below

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GbpUsd Bullish set-up

After a long bullish move from March, this pair is forming a dip. This could be the second bearish retracement ( i.e wave 4) of this bullish trend.

This bearish dip looks exhausted and it's just a matter of time that the bullish move continues.

With reversal zone, formed by the confluence of various fibonacci extension and retracement drawn from key levels, at 1.6560-1.6700; we could be in for the end of wave 4 ( which shouln't dip into the wave 1 region below 1.6700) and the resumption of wave 5 which should close above the top of wave 3.

I will watch for bull signal at this zone for a long trend to the upside and if this should happen..woow! that will be a party of pips.

If a reversal signal is not formed at this level and price breaks through with a high momentum, this scenerio will be invalid and I will look at somewhere else

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AudNzd renewed Interest

Woow!..What a wonderful experience I had with this pair over tha last two weeks. A whooping 300pips in less than two weeks is not bad, Is it?.

I highlighted a particular zone for reversal on Monday and predicted two possible scenerios (read here) and price reversed just right there to fulfil the second scenerio. The bias now ( at the moment,based on the present data) is bullish.

After that upward move, price appears to have formed a bearish correction pattern which could end between (1.0760 and 1.0730) after which the bull continues its movement.

If the afformentioned level is broken on a high momentum, the bears could resume and second scenerio will be violated and invalid. At the moment, the 2nd scenerio is still in control until price movement proves otherwise.

If you are a short term/intraday trader, you might look at selling to the zone but medium-term guys could wait for a renewed buy signal at the level (well if the market agrees with us)

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AudNzd Forecast and Analysis

I cashed out 150pips from the current bearish move of this pair ( It was a fast trade that I enjoyed; I didn't put the analysis here. It was a fast trade that I shared with few of my friends). This pair looks promising to trade because of the swings and high magnetic zone it's formed.

While I will admit that the overall trend, at least based on the present data, is bearish; I still believe that this market could swing up. I have two scenarios

Ist Possible Scenerio:

The recent ABC correction of the 5-wave bullish move is weakening and a bullish run could emerge from 1.0610 to 1.0650 which is a very strong support level from trendline analysis and fibonacci harmonic point of view.

If this level will hold, we could see market fly really high above 1.0900 provided the recent bearish move is a correction and that will be a whole lot of pips in the bag

2nd Possible Scenerio:

The recent bearish move could be a call for the bearish trend to continue and expected bullish move at 1.0610-1.0650 zone could just be a correction ( Wave 4) which could end at 1.0750 and its neighbourhood and surge the bearish run further and if the old wave 1 is broken down....BOOM, the bearish trend continues and AudNzd deepens

I will watch for price action at these levels especially the zone discussed

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GbpAud bearish signal.

I predicted an upward move of this pair on 21st April before I concluded on a region ( read it here) where I would consider selling.

This level has been reached bearly two weeks after and I have discovered a sell signal to ride this pair to 1.7490 at the minimum.

I will be trading the end of wave 4 ( head and shoulder neckline retest) and the beginning of wave 5 which I expect to break the rising trendline.

If the rising trendline holds this pair, the bullish move could continue.

As we anticipate and perhaps trade the prospective bearish movement, we should keep an eye on the rising trendline and observe how price react to it.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor or fund manager

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