Monday 29 August 2016


EURUSD, WEEKLY 
TECHNICAL ANALYSIS

The price is now reacting to the red 21 Simple Moving Average support zone. A close below the moving average can lead price into the purple trendline support marked T. Close below T can lead price into support zone around 1.05480 marked S. Close below S can lead to resumption of the larger down trend. Close above R disqualifies the setup

Sunday 28 August 2016


AUDUSD, DAILY
TECHNICAL ANALYSIS

The price is now being held by a blue support trendline marked T. Close below T can lead price into support zone around 0.73138 marked P and close below P can lead price into support zone around 0.71356 marked S. Close above R disqualifies the setup.

Friday 12 August 2016



NZDCHF,DAILY
TECHNICAL ANALYSIS

The price is reacting to a daily 21 Simple Moving Average support and supported by the blue trendline T. Close below T can lead price into support zone marked A around 0.68879. Close below A can lead price into support zone around 0.66986 marked P. Close above R disqualifies the setup

Thursday 11 August 2016


SELF DISCOVERY


It was and it will always be. The world was consisted of predators and prey. You were either hunting or running. Victims and victors, poor and rich, law makers and law abiding citizens, kings and servants, winners and losers. Everything with its opposite.  


Luckily enough, we are not born gazelles that our fate is sealed. We are special, we have the power choice. Fortunately or unfortunately, the choices are just two, you either choose to be a predator or a prey. But we all know where the highest numbers are, always, just simply because by default if you don't choose you have to be in the largest numbers.


Sunday 7 August 2016



AUDUSD,HOURLY
SHORT TERM TECHNICAL ANALYSIS

The price is reacting to previous zone of congestion(support). Close below trendline T will immediately land price into P support zone around 0.75855. Close below P may lead price into support zone around 0.75391 marked L. Close above K resistance zone disqualifies the setup.




Friday 5 August 2016


ADVANCED TECHNICAL ANALYSIS

USDCHF MONTHLY CHART 

Advanced technical analysis involves the following:

  • Signs of exhaustion on the major trend
  • Analysis of the major swings on the pair and how long they have been lasting
  • Analysis of the corrective moves and how long they have been lasting
  • General conclusion and current probable status



Signs of exhaustion on the major trend
The pair is showing signs of bearish exhaustion but no signs of major bullish movement just yet. So a position trader would have to sit around for some time but the pair still gives some good swing and day trades. For those of you familiar with the Elliot wave theory, Since break of the uptrend around 2002 when a major support green trendline marked Y was broken, the pair has completed the Elliot cycle(NB. My wave label is not as per Elliot theory) and has had 3 clear major swings with the 4th failing labelled 1234. The strong hammer at end of 3rd wave also showed strong rejection of low prices. And if you look clearly the trend is rounding. All these are signs of exhaustion in the major down ward trend.

Analysis of major swings
The major swings have been averagely lasting for a year and moving averagely over 2857.8pips. The momentum or speed on the major swings 1,2 and 3 was very strong that it gave chance to another 4th swing which failed. You can clearly see the speed of movement of price very slow in wave 4 as compared to other waves after the corrective move where sell entries with red arrows are indicated. This indicated a more weakness in the sellers. But still the bullish movement is not yet confirmed strong. Analysis of major swings helps you not to get out of trend too early or too late.

Analysis of corrective moves
The correctives on the above picture are highlighted by the gray ellipses. The corrective moves have been lasting averagely 2.5 years.  All the corrective have majorly been clearly two waves. Observing all this helps you not to enter the new trend too early or too late. And you can clearly see how entries were consistently on break of trendline of the 2nd wave within the corrective move

General conclusion and current probable status
The downtrend is exhausted but there are no clear signs of a major bullish movement just yet.
The momentum on the last up ward swing marked yellow is weak as compared to the previous upward swings marked yellow, therefore this makes red trendline resistance marked R a strong zone to hold the price.
Now price is held in a triangle between trendlines R and T. Close below T may lead price to retest the support trendline marked S and break and close above R can lead to a major movement to resistance zone around 1.13480 marked M.
If it reaches end of triangle before break of any the trendlines, it still remains a risky setup.