Gbpchf Video Analysis

This was a video I recorded  on Gbpchf  few days ago, someone might find it interesting

Bearish Momentum Could drag Gbpyen to the South

I have been watching this pair for some time now and I think there is something interesting emerging. 

With proper trend analysis, one could say this pair is on the downward trend on the daily chart. The recent bullish push could end soon for the bearish trend to resume.

Going by my normal wave and pattern recognition , I see a possible end of wave 4 to resume wave 5 downward.

The recent upward push is as a result of an ending diagonal/wedge pattern which is now at the sub-wave 4 of W-3. There is also a strong resistance (172.40-172.60) that could hold price against further push up to the W-1 region.

I will wait for a good bearish engulfing bar to sell at the resistance zone mentioned above with my stop loss at 173.00 ( where W-1 will be altered). My final target- Support zone ( 169.50).

On the other hand, if price pierce the resistance zone mentioned and move in the region of W1 I will withdraw the sell order. If price broke the resiatance trendline upward, we could see a deep bullish correction or even reversal.
I will watch as price tell me what next to do.

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Possible end of Usdcad correction for the continuation of the BULLS

I have been expecting a wave 4 correction since July 30th when I had the last update on the usdcad continued bull move after an expected correction. 

Now, the correction looks like completed and I am expecting usdcad to push to wave 5 at 1.1050.

Long entry isn't bad but stop loss should be below 1.0820.The analytical chart below could prove helpful

This analysis is for educational purpose only and care should be taken in interpretation.

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Why Nzdyen bull should continue

With a potential double bottom on daily chart, we might see a real move up. Get the gist with the analytical charts of daily, 4 hour and 1 hour time frame below

This analysis is for educational purpose only and care should be taken in interpretation.

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How to Join the Usdcad Bull Party!

On July 6th, I predicted a bullish move of this pair and it hasn't disappointed a bit as I have been picking profits along the way, hope someone is doing the same?. You can read that analysis HERE

For those that didn't join the party, I perceive an opportunity to be a part at a crucial level that promises a beautiful risk/reward.

I still maintain a general bullish bias on this pair, but as we all know that markets retrace at some crucial zones to change its movement or resume.

I will be going by my usual wave counts and harmonic pattern analysis.

Starting with 1hr time frame, a crucial gartley will be completed at 1.0875-1.0890 ( a potential reversal zone ) and resting on different resisting horizontal and diagonal lines.

On the 4h chart, there is an end of wave 5 pattern about to be completed, probably at the zone mentioned earlier, if that should be the case, a reversal is imminent to drive price to indicated ''Quick target zones'' before the bullish move resumes.

In other words, price broke 1.0820 in high momentum,  a retest follows and the bulls continue.

The expected short bear is for short nap trades and if 1.0820 is bridged downward in high momentum, well, the party might be over.

Conversely, if the aforementioned reversal zone is broken high and high, the bus is not waiting now and it's all well.

Note: Make sure you understand this analysis before interpretation. It's not a call for trade. It's the view of a trader and caution should be taken.It's for educational purpose and not a call for trade. You can contact me if you have any questions

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You can also post your comments and questions below

Eurusd Short and Long term Analysis

Hi folks, it's been long I haven't posted here. I am sorry for not have been around. Of course a lot of things have happened. Recently deepened myself into some studies. I just love my charts- like my wife . 

Well, here is my analysis on the most popular pair-Eurusd

Taking into account the H4 elliot wave analysis on the bearish move from 1.3700, wave 3 is about to be completed after completing a 5-wave elliot swings and resting on a diagonal support, a push to 1.35100 resistance is thinkable and highly probable in order to give us a wave 4, from where we can sell again for large profits.

On the daily chart, 1.3510 was bridged convincingly and a retest is possible for a further push  down to 1.3300 ( A support)  and 1.3100 ( convergence of nearly 1.618% extension of wave 1 from 2 and a level of support).

I expect Eurusd to retrace and them push down. I am still strongly bearish but I am going to take a bull short aiming 1.3510 or lower
The analytical charts below on H4 and D1 will give you a clearer picture.

NB: This analysis is risky and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.E-mail-sanmiadeagbo@yahoo.com

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Why Selling GbpChf is not a bad Idea.

This bearish run on this pair is imminent and it's just a matter of time. With mouth-watering patterns forming, potential pips are to be made shortly with the weekly, daily and 4hourly charts embracing the bears.

On the weekly chart, a successful BAT has just been concluded just at the roof of a strong resistance trendline.

On the daily, a bearish BUTTERFLY is completed with an engulfing bearish candlestick pattern forming.

The terminal zone ( 1.5280-1.5380) is a very strong price reversal zone.
In the analytical chart shown below, I analysed with the D1 chart only in order to see a PICTURE ( how a BAT  is pregnant of a BUTTERFLY) and all these are happening at the roof of a channel. Thinking bearish in this case isn't bad at all.

Going by the 4 Hour chart, an end of wave 5 Wave-pattern has been successful at the same resistance level afformentioned. and unsurprisingly, 4H has responded to the bears in its own way waiting for the big boys to join the move to provide an explosive run before the bulls will wake up, if they wake at all.

With all these, I see price coming to 1.5185 ( short term), 1.500,1.4920 and 1.4816 before the bullish would gather momentum to counter the move. If the rising pink trendline on D1 is broken down-side, price could be broken loose to 1.4150 and below. It's just a matter of time.

NB: This analysis is long term and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.

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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Why I bought Usdcad

Let me start from the bigger picture- the weekly chart. This pair is setting to form a potential 61.8% gartley pattern at 1.170 and its neighbourhood and  wave analysis in support of this potential makes this thought stronger.

Going by the wave count which started July 2011; wave 3 has successfully completed at 1.1266 and price retraced to the present level ( a potential wave 4) and I am expecting price to push up from here or anytime soon and break the wave 3 to form a wave 5.

1.1700 is a very strong price magnetic zone due to the convergence of Fibonacci extensions and retracement  (check the weekly analytical chart below) and a Resistance . Wave 5 could potentially end there.

How are we sure, to a certain degree, that wave 4 will be formed there. This can be answered by zooming down to the daily time frame.

Now, to the daily time frame. Price has successfully completed a gartley pattern (check the daily analytical chart below) and I expect a big move up.
I started buying on 3^rd of this month and I’m still holding on with stop loss at 1.0560 and targets at 1.0800 and 1.0950 for the time being. I expect price to break 1.1280 to form a new high at 1.170 or thereabout .

On the other hand If price go down to break 1.0500 with high momentum, this analysis is invalid and I might have to look again.

NB: This analysis is long term and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.

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NzdYen Outlook

This pair if forming clear wave patterns. we recently have a bullish retracement which could be the end of Wave-4. 

The speculated end of Wave-4, which is supported by a strong resistance formed by the confluence of horizontal and diagonal trendlines, should make us prepare for southern move below the low of wave -3. 

We can take profits at different prices if the bearish move is actualized.

The Analytic Chart below speaks what I have in mind better.

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Cable bearish look

Cable's drastic bullish move which started on 21st March ended with more than 500pips at 1.6995.

 The price has since taken a correction to the downside with beautiful swings at good levels.

The present bearish move could still continue till 77.8% retracement of the bullish move at 1.6560-1.6600 before fresh bullish move could continue. 

If price penetrates below 1.6468, the bears might be preparing to take over.
Presently, price has formed an ABC zigzag Gartley pattern (50-61.8% fib-level) at a strong resistance formed by 2-diagonal trendlines. 

Any move from this level to the downside will suggest that Wave-3 is not yet completed ( at least its minimum projection).

Going by this thought, it's not bad to speculate that wave 3 could occur at 1.6560-1.6600 which is a magnetic zone for price due to different projections that converge there. 

A new buying interest should be expected there after we might have exhausted profits at different levels along the way.
A break above 1.6850 will make this scenerio invalid and might force price to resume the bullish run.

Perhaps the analytic chart below can explain better to you

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EurYen Analysis and Outlook

Those that sold this pair in late April and early May and stay long enough should be dancing ( I wish I was one of them). A nice bearish move from Euryen.

Recently we are having a bullish correction push which could end at a major level for the bears to resume. Good and patient traders that are not in any position in this pair will be waiting. Yours sincerely is one of those people.

This pair, presently is trying to break the Resistance 140.00 and we can see some pins forming around there. 

I see the big picture at 141.00- 140.50 level. This level will complete a deep bat harmonic pattern and together with the strong bearish resistance trendline, we have a magnetic CONFLUENCE  area. 

We might not be able to know correctly where this reversal will be but we can predict possible levels, lay AMBUSH and act accordingly

I will wait for a bearish signal at this level and pull the trigger when I see something convincing enough. If this should happen and the bearish move resumes, then we can host a party of Euro and Yen pips and ride down , down and down........

Conversely, if price breaks the aformentioned level in high momentum, well the bull might take over and we can now re-analyse.

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AudCad Analysis.

Of recent, this pair has been experiencing nice wave movements up and down. The medium term is bearish!

The recent upward push we are experiencing might be a correction after which the bearish move will resume.

The reversal level indicated below signal a possible end to a potential wave-4 movement. This is not just a movement but a 3 swing ABC wave pattern movement or what many harmonic traders know as Gartley harmonic pattern if the fib-ratios are added. The fib-ratios added make the indicated reversal zone,a strong magnetic area for price to reverse.

There is a potential gartley forming under a strong trendline and a rough resistance, so the outlook is bearish
Presently, market is looking like wanting to reverse from this level which could possibly happen but care should be taken before entry as there is room for more pips upward.

My entry strategy has not pushed me to sell yet and when it asks me to...well...who am I?
If the entry is satisfied and Aucad decides to move in this direction, we might see Audcad dropping below 1.0000.

On the other hand, if the aforementioned resistance reversal zone is broken upward with a strong momentum, the scenerio will be invalid and we could see this pair soar to 1.0254.

The analytical chart below explains more

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BRING ON THE NFP

I was going out this morning expecting to come back and see signals for Eurnzd sell. None of my entry strategy rules was satisfied.

I flicked through other pairs when I saw a nice opportunity to ride Usdcad. I bought more lots than I usually do because of the small volatility of this pair

It paid out well as my first TP was hit and the second was about to

While I expect this pair to rise higher, there are two barriers - 0.09100 and the NFP.With profit locked and more to come before Friday...I can say '' BRING ON THE NFP''

EurNzd Update

If you have been following this blog closely, you would have noticed that this pair has not yet reached the minimum projection level for wave 5 mentioned on 29th April ( read here) .

The wave 5 move started strongly expectedly didn't go straight to hit 1.56s and below, which are the projected levels.

Presently, we have an abc 61.8% gartley zig-zag correction pattern resting on a strong resistance and with D1 formed a pin and a doji candles at this level, it's not poor thinking that Eurnzd might soon fall and 1.55s are the targets.
 An aggressive trader might want to sell from here while a conservative one would wait for a break of 1.5935 support formed by the up trendline on 4H.
 I will wait for my entry parameters before activating a sell and take profits at 1.5780 and 1.5550.

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My Result for the month of May

Total number of trades: 9
Won trades: 5
Half winner: 1
Lost trades:2
Breakeven: 1

Results in pips:

Won trades:
Gpbaud: +350pips
Audnzd: +150 pips
Eurnzd: +250 pips
Euraud: +200pips
Gbpusd: +120 pips
Total pips: +1070

Lost trades:
Audnzd: -25pips
Usdchf: -75pips
Gbpaud: -1pip ( break even)
Total pips lost: -101pips

Net pips: +960pips

Running trade: UsdJpy closed half trade with 45pips, second part running at breakeven

I hope next month will be better than this

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.

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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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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