Thursday, November 14, 2013
Doji on Daily chart of GBP/USD
A Doji formed today on the daily chart of the GBP/USD. Look for short opportunities if you are not already short. Happy Trading!
GBP/USD Short Trade still valid. Be Patient.
GBP/USD Short Trade still valid. Be Patient. Remember we are trading off of a Weekly chart pattern.
Tuesday, November 12, 2013
Evening Star Candlestick Pattern - GBP/USD, Weekly Chart, Short GBP/USD
An Evening Star Candlestick ( Bearish ) pattern has formed on Weekly chart of GBP/USD. Fibonacci Profit Target levels on chart. Initial profit target is 38.2% Fib. level of run up from 1.4812 to 1.6259 at 1.5707. Stop is above Doji in Evening Star pattern.
Tuesday, September 10, 2013
GBP/JPY Butterfly Pattern - Weekly Chart
GBP/JPY Bearish Gartley has turned into a Bearish Butterfly. 1.272AB = CD, projects point D to be 156.43. 1.618AB = CD, projects point D to be 158.83. We are in between these points right now. If price exceeds 158.83, I would close the trade. Otherwise, be patient. Happy Trading.
Monday, September 9, 2013
GBP/JPY Gartley Pattern - Weekly Chart
Bearish Gartley Pattern has formed on Weekly chart of GBP/JPY. This may turn into a Butterfly pattern but is worth trading at this point. Stop-loss is set above 156.71, which is point X in the pattern. I use the average daily range of the pair I am trading to help determine how far away to place my stop-loss. Some charting packages call this ATR (Average True Range). You can leave it on the default setting. The value usually doesn't change significantly. ATR(14) = 152 pips and ATR(100) = 177 pips. See chart. Happy Trading. : )
Tuesday, June 4, 2013
EUR/USD Short trade Update - Still valid - Great Symmetry!
EUR/USD short trade off of Daily chart is still valid (Bearish Gartley). The time symmetry looks even better now. See earlier post and charts. Stop(s) should be above point X. The FX market may be more volatile from now into Friday because of ECB on Thursday and Non-Farm Payrolls on Friday. Give the trade room to run. Manage your risk! Also, there is a nice Doji candle that formed after the D point candle.
Monday, June 3, 2013
Sunday, June 2, 2013
EUR/USD, Daily chart: Bearish Gartley still valid
Bearish Gartley pattern is still valid on Daily chart of EUR/USD. See definition for Bearish Gartley Pattern
Thursday, May 30, 2013
Tuesday, May 21, 2013
EUR/USD - Bullish Engulfing Candlestick Pattern
A Bullish Engulfing candlestick pattern has formed on the Daily EUR/USD chart. Also, a Bullish Butterfly pattern has formed on Daily chart. Will post chart soon. Happy Trading!
Sunday, March 31, 2013
Will USD/CAD continue down?
USD/CAD looks like it will go down and test 20-period EMA (Weekly chart) at 1.0085 over the next few weeks. In addition, this is around the 38.2 % retracement of the run up from 0.9632 to 1.0341. See earlier post about the USD/CAD short trade. See previous USD/CAD post.
Friday, March 22, 2013
Bullish Butterfly pattern on GBP/USD
Bullish Butterfly pattern on GBP/USD - Weekly chart (not quite textbook, but good enough). Also, a nice Bullish Engulfing candlestick. Happy Trading!
Monday, March 18, 2013
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