Following accumulation between 2007 to 2013 we have popped to the 2016 highs of 1.463 where we met resistance at a significant level. PA then dropped to back-test the 1.21847 to 1.25890 area. Natural progression would suggest we rally back up to test 1.43210 and assuming continued bullish momentum, break through on the second attempt. […]
Author archives: bigbadfox
EURUSD Opportunities For The Week Ahead
EURUSD weekly has recently hit a significant level at 1.08734 which caused the pop to 1.11813. After distributing and making a double top on 21st Oct – 5th Nov, we headed back down to test 1.09994. We are nowin the process of back-testing 1.10729. This week I will be looking for short scalps on lower […]
AUDUSD Dropping Fast
Following on from my general higher time frame analysis PA has been very bearish over the last few days and we are now close to testing the key level of 0.66740 – 0.67480 once again. We should get some buyers / profit takers at this level assuming lower time frame PA displays slowing of momentum. […]
Trade #4: Time To Seek BitMex Alternative?
Last week my long orders were triggered at 8755 on BTC. I expected a reaction as we approached the weekly doji at 8750. This level also lined up with some lower time frame levels on the leg we are retracing. I entered at 8755 with 400, my first target was to sell 300 at 8900 […]
Trade #3: Prolonged EURUSD Scalp
Lots of discussion points on this one. Lets start by looking at the daily chart set up. The main focus here is the solid cyan line at 1.10560. This level has strong significance, not only being a previous swing-high, but also has importance on lower time frames. The red level is our primary invalidation point. […]
A Good Level Beats MACD Divergence All Day
This morning I’ve been looking for scalping opportunities on the lower time frame EURUSD chart. I’ve reinforced my opinion that the number one priority when looking for trades is identifying significant levels. The MACD is at best a lagging indication tool for momentum change, and at worse can actually hamper your trading decisions by creating […]
EURUSD Now Bouncing?
Yesterday saw a larger-than-expected pull back on EURUSD. From the 2-week chart we can see the significance of 1.10628 labelled above in purple. The high of the candle that made our recent low. Zooming into the 1-day time frame I have highlighted the congested area that I expect price to fall to if we break […]
Trade #2: Quick M6E Long Scalp
I’m still expecting a EURUSD to push higher either this week or next. I think 1.11230 needs to be tested on the monthly time frame. But it’s important to not form a bias around this. I’ve marked quite a few levels where long scalps are possible as we retrace the up-leg. The red level at […]
Trade #1: Bitcoin Short
Bitcoin price has been flat and with low volume for the past few days, not perfect trading conditions. But here I see a short opportunity was we approach 15-min leg start. I plan on taking 75% profits as a scalp at around 9300 and letting the rest run. Easy stop-loss above swing high. Blue lines […]
AUDUSD Intermediate Outlook: Long Scalps Soon!
8-Hour Following on from our higher time frame analysis we can now try to follow the price action on intermediate time frames, starting with the 8-hour chart. We are starting to see signs of distribution and MACD divergence at our current level of 0.69105. This suggests we get a pull back here. But remember that […]