Hello everyone,
The setups that I showed you yesterday remain valid but still un-triggered. If you’ve been following them, you will see how they are still within their respective consolidation areas. I am particularly liking how NZDUSD is floating above 0.7900, the key level I mentioned yesterday.
My sound alarms are in place and ready. As soon as there’s any significant move in the charts I will let you know!
Cheers,
-HECTOR-
Hello folks,
I am seeing a number of setups worth following and I wanted to share them with you all. Mostly they are based on GBP-weakness (I am seeing heavy GBP-weakness in the long term charts) so I am just waiting for the respective Sterling-crosses to breakout from their respective congestion areas.
Let me know show you a video of those setups I will be keeping an eye on throughout the following day.
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Today I spotted a text-book flat-top triangle breakout in the Kiwi (NZDUSD). This currency pair has been finding resistance around the 0.7950 level ever since November 07 and today my sound alarm went ape letting me know that finally the Kiwi had broken free of the resistance-chains. I was expecting to see a major market reaction upon this breakout since like I said that level had been holding price below for about three months!
So I was hawking the shorter time frames for an entry, which showed up in the shape of a breakout-pullback-formation of a flat-top triangle in the 30 minutes chart. Upon entry, price cruised north smoothly for about +20 to +25 pips, breaching the 0.8000 psychological barrier. However, around the second half of the London session, price dived once again below that 0.8000 and I decided to bail out, manually exiting the position. I cannot really explain why, but my gut feeling raised the red flag in the back of my mind. I mean, I was really expecting a HUGE bullish day today after the breakout of that three-month-long resistance roof and failing to sustain the 0.8000 sort of gave me the creeps. I guess it’s one of those things you perceive when you’ve been in this business for a while.
So all in all a tiny -9 pip loss on this trade. But seeing how the Kiwi has continued to drop in the following hours I can safely say that this loss certainly has a sweet taste to it, doesn’t it?
Let’s watch the video!
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One of my Sunday evening routines (other than watching Real Madrid soccer matches!) is to scan the long term charts in order to gather some impressions as of where the market is heading, or at least what the bias on the Daily/Weekly charts looks like. It’s something I have been doing for ages and in fact I recommend you folks to consider investing 30 minutes of your weekend rest into it. It does help understanding where we are in the charts before the weekly trading frenzy kicks off.
Anyway, I am spotting a severe GBP-weakness across the board on the Daily charts and I will be keeping an eye out for a possible long-term GBP-short position. I lay out those setups in the video below.
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Hello everyone,
I currently have four setups on my watch list that I will be following over the next few days. All of them are presenting congestion areas within their respective trends, and as usual I will be scouting for a possible breakout in the direction of the trend. If that eventually happens, I will be preying for my typical breakout-pullback-continuation pattern to trigger my position.
I’ll keep you informed!
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