Bonus Charts




Bonus Charts


Monday 17th January

There is a possible buying opportunity on ADA with a strong bounce at the $1 support zone. I will keep you posted if we look to purchase this coin over the coming days.

Friday 14th January

The AUDJPY has possibly setup a lower high inside a potential triangle formation. Keeping our eyes on the rising channel structure for any breakdown play.

Thursday 23rd December

The USDCHF is finally moving south after a number of attempts. Once the 0.9160 support is broken it should open the doors for a much deeper correction. Our targets remain at the 0.8930 support level.

Monday 20th December

There is still downside pressure on BTCUSD along with the majority of risk-on assets. The break of the rising trend line support indicates a change in trend so we are watching for a move into the 40,000 support. The MACD and RSI are showing some signs that a bottom is near however it is far too early to call just yet.

Thursday 9th December

The AUDNZD is tracking well so far with both of our open positions. Our initial target is at 1.08 however there is the potential for this to run a lot higher. From an Elliott wave perspective, there has been a completion of a 3 wave correction which began back in September 2020. For this bullish scenario to hold any weight we really need the 1.06 resistance taken out. Until this level is taken out there can still be a bearish move. A new high above this level will indicate a much larger rally is unfolding. The rally from March-September 2020 is in a clear 5 wave impulsive rally so, in theory, a similar structure should now occur. Time to sit tight and see how this plays out over the next couple of days.

The USDCHF is starting to move south, we need to see some follow-through over the next day or two. Our second entry is not too far away which should help the profits on the way down. The USDCAD is also moving lower as expected which is indicating USD weakness across the board.

Monday 6th December

We are watching for a bounce higher on the USDCHF for a shorting opportunity. This appears to be a bearish pennant structure after creating a fake breakout above the structure last week.

There was a large pullback across the crypto market over the weekend, possibly a decline to wipe out leveraged positions which tends to occur before a major leg higher. The XRP bullish count is still valid until the 0.51 support is taken out which is the invalidation point. We are watching for a long trade set-up, ideally once the declining trend line is broken to the upside.

Friday 3rd December

The VIX (volatility index) has surged higher during the risk-off market move over the past week, however, it has reached a major resistance zone. Technically the VIX should decline from here which would provide some relief for risk assets. If the VIX declines from resistance it could lead to a recovery across stocks and JPY pairs.

 

Tuesday 23rd November

The USDCHF is trading inside a pennant formation and a breakout, either way, will occur over the next couple of trading sessions. This is on our watch list for a trading opportunity.

BTC is trading inside a rising channel structure. The pullback in the market is still in favour of the bulls until the rising trendline support is taken out. If the channel structure is broken to the downside there is a higher probability of a much deeper correction.

Tuesday 16th November

GDX is edging higher alongside gold prices. We are expecting this to be a long term play over the coming months. Once a breakout above the bull flag formation occurs we can sit back and relax on this position.

GBPUSD – The GBPUSD is approaching the lower end of the declining channel structure. No set up here just yet, momentum is still in the bearish direction.

Monday 8th November

XRP is tracking well, our SL is at breakeven so we need to see a bullish continuation to the upside. 1.3892 is our first target, however, if this level is taken out there should be a large impulsive move to the upside. We will see how it plays out this week, if 1.3890 is broken 1.7 will be our next target.

Thursday 21st October

The NZDUSD is possibly setting up a very bullish outlook, but this would require a major devaluation of the USD. Taking a look across the board, there are a number of central banks ahead of the FED in their policy outlook. The UK, NZ and CAD all appear to be closer to raising interest rates so bets are growing that these central banks will shoot first. This would lead to strengthening across all pairs against the USD and will play into the DXY bearish bias. The NZD, AUD and CAD are all in high demand due to the risk on market sentiment and bullish commodity market. The JPY has been the worst performer of the week indicating investors are risk-on.

Monday 18th October

We have been tracking the AUDNZD for another long trade opportunity. It appears as though it has finished its first 5 wave sequence to the upside after completing a longer-term ABC corrective structure. We are expecting a large move to the upside over the coming weeks, just a matter of timing the long trade correctly. There is a possibility of a slightly deeper correction in the short term. I will keep you posted once this set-up is ready to go.

Wednesday 6th October

The AUDJPY is finally moving to the upside and the NZDJPY is also setting up a bullish picture. There is a nice inverted head and shoulders formation followed by a retest of the broken bull flag structure. With the JPY pairs setting up a bullish move to the upside, we can expect the stock market to take a technical bounce. This suggests the market could stabilise over the coming days. JPY weakness generally indicates a risk-on environment, resulting in risk assets performing well, from crypto through to stocks.

Friday 1st October

The AUDJPY rallied as expected and would have hit our TP set last week. I am looking to reload on this position today, but only if the market breaks the 80.90 resistance. There is a clear 5 wave rally and a possible ABC correction in play, which indicates a bullish trend. I will keep you posted once a trade set-up is ready to go.

Tuesday 28th September

The AUDNZD is breaking out of a falling wedge structure which suggests a bullish reversal opportunity could be in play. This is a trade setup we are looking to buy into later this afternoon. The NZDCAD would have been a great trade, just unfortunate we were stopped out at breakeven. NZD weakness is coming into the market as expected.

Tuesday 21st September

We have been watching the NZD for a reversal opportunity and the AUDNZD is finally picking up some momentum. Taking a look at the NZDCAD there is also a possible shorting opportunity, which suggests NZD weakness could be coming into the market. The AUDNZD has set up a large 3 wave decline, labelled ABC. Once a breakout from the falling wedge occurs we will be looking to go long for a swing trade. This could provide significant upside over the next couple of weeks with targets above the wave 1 top.

Monday 13th September

The NZDUSD has set up a technical pattern called “dark cloud cover” on the weekly charts. This is a bearish reversal pattern. Price action opens above the close on the candle previous but closes lower. This has worked fairly well at spotting reversal opportunities on the NZDUSD previously. This is technically setting up a short trade opportunity for the week ahead. I will keep you posted once we look to enter the trade.

NZDUSD 4 Hour Chart

The 4-hour chart has set up a lower high which indicates a change in trend. There is also a possible 3 wave correction – bearish.

Monday 6th September

The USDCHF is back down to the 0.9118 support. Technically this still ticks the box for an inverted head and shoulders structure – suggesting a move to the upside. Obviously, the DXY in decline is not helping this pair, however, due to the risk on market sentiment, the CHF should devalue due to the decreased demand for the safe-haven currencies.

Friday 3rd September 2021

RIPPLE – Potential breakout here on ripple (XRP). The inverted head and shoulders structure played out as expected from earlier in the week. Cryptos tend to have a positive run over the weekends so let’s see if it can crack the 1.3830 resistance. If so it should open the doors for a move towards 1.7080.

DOGECOIN – similar set up here to Ripple. The inverted head and shoulders structure played out from earlier in the week. Doge appears to have also broken a bull flag structure. We are bullish on Doge whilst it trades above the wedge structure.

Wednesday 1st September

The USDCHF has been range-trading for a week or so, but it ticks the box for a long trade. The inverted head and shoulders structure indicates a potential move to the upside. Also, keep an eye on a breakout of the pennant structure to the upside.

Monday 30th August 2021

XRP (Ripple) is looking rather bullish from a technical perspective. An inverted head and shoulders structure is setting up alongside a bull flag structure. We can see the recent correction is in three waves labelled a-b-c, which also indicates a move to the upside. There is a really nice risk v reward on this set-up as we can expect XRP to break the 1.400 highs. over the coming weeks.

Looking at JPY crosses, they all look set for a bullish run higher. The declining channel formation on the NZDJPY looks set to break to the upside, which would suggest another risk-on move in the market is around the corner. We will be waiting for any pullbacks on JPY pairs to possibly go long. Ideally, we would like to go long on the AUDJPY or NZDJPY. First, there needs to be a breakout above the negative trend line.

Wednesday 25th August

The EURJPY is testing a negative trend line resistance. A break above here will give us the green light to go long towards the 130.60 resistance initially. The JPY has been in low demand throughout the early stages of the week. We are set up on the GBPJPY, but keep a close eye on this pair also.

Tuesday 17th August

The GBPUSD is trading inside a possible bull flag structure. This would indicate DXY weakness over the coming week. We will only look to trade this if there is a breakout to the upside of the flag structure. The stop loss would need to go at the swing low of 1.3788. I will keep you posted.

Thursday 12th August 2021

GBPUSD had a nice bounce near the 1.38 support. There is a possible inverted head and shoulders structure in play, but we will wait for a break above the negative trendline resistance. That will indicate a large rally to the upside is on the cards.

Most charts are indicating DXY weakness could take place over the next couple of weeks – USDCAD, EURUSD and the NZDUSD.

Monday 9th August 2021

The GBPUSD is tracking okay so far. We need to see an acceleration to the downside. Technically the 1.3790 support could set up an inverse head and shoulders formation. Keep in mind the UK is recovering from the Covid-19 virus quicker than other parts of the world and the BoE is also looking at bond tapering soon. So the GBP is actually rather bullish at the moment. Once the GBPUSD reaches 1.3850 we will look to move the SL to breakeven.

Tuesday 3rd August 2021

The AUDNZD is approaching a fairly important trend line support. This level has provided a reversal opportunity, however, due to the RBA statement today it is too early to call. The RBA is expected to take a dovish tone due to the Covid-19 outbreaks. We will see how this plays out initially and may enter on the LONG side if the opportunity presents itself. The big move will take place if the RBA actually takes a more positive tone than the market is expecting.

Tuesday 13th July 2021

The AUDJPY could have bottomed as the market has set up a bullish divergence on the RSI which has predicted reversal opportunities previously. We are on the AUDNZD for a long trade so I will not post a trade set-up on the AUDJPY, but this looks fairly nice and ticks the boxes to buy into.

Finally a breakout above the falling channel structure for the AUDNZD. Once the retest has completed there is another opportunity to go long in the market.

Friday 9th July 2021

AUDNZD analysis is still valid. I understand some of you who trade with Fusion markets were stopped out due to the spread. Our trade on Focus is still active which is frustrating. To re-enter the position wait for a breakout above the negative trend channel with the SL below the most recent swing low.

Thursday 8th July 2021

EURGBP is not playing ball at the moment, but the bull flag structure is still intact. Hopefully, we see a break above the 0.8590 resistance over the coming sessions.

Tuesday 6th July 2021

The GBPUSD has possibly set up a bullish breakout. We have a pretty full portfolio at the moment, once we close down a trade this could be an option to go long towards the 1.4000 resistance.

The AUDNZD is still trending lower inside a possible bull flag structure. Once the market breaks the 1.0727 resistance we can look to enter another position. Hopefully, this comes today with the RBA interest rate decision and statement. The structure is overlapping and very messy which does suggest a correction rather than a trend.

Friday 2nd July 2021

The AUDNZD trade is still valid. We can count a five-wave rise which is a bullish sequence and a possible abc correction. There is also an inverted head and shoulders formation in play. Hopefully we see some upside throughout next week.

Monday 21st June 2021

AUDCAD is setting up a possible head and shoulders formation. There has been a falling wedge breakout, which looks very similar to the breakout previous. To enter the trade I would like to see a move above 0.9400.

The AUDNZD is on our watchlist for a long opportunity. There is a possible triangle formation, and based on the impulsive rally from March 2020-September 2020 and the current corrective structure, we favour a move to the upside. A breakout above 1.0900 will be a key buy zone.

EURGBP –  We are tracking a possible bull flag structure on the EURGBP which could move towards the 0.8735 resistance initially. I will keep you posted on any active trade .

Thursday 3rd June 2021

AUDCAD is trading down the negative trend line support. We will leave things for the time being.

Tuesday 1st June 2021

The RBA provides the next interest rate decision and statement today at 14:30. The AUDCAD has a falling wedge structure leading into a key support zone at the 61% FIB retracement. It is too early to buy the pair, however, we will be looking for any breakout post announcement. Interestingly, the NZDCAD has the same structure prior to the RBNZ last week and broke out to the upside. We will be looking to position prior to the 14:30 announcement in the trading floor.

Wednesday 26th May 2021

The AUDNZD has broken down leading into the RBNZ interest rate decision and statement later this afternoon. We will be looking to move our SL to open prior to the event.

Wednesday 19th May 2021

NZDUSD is looking very similar to the AUDUSD with a possible head and shoulders formation in play. With this set up we would like to see a break below the rising trend line support before considering the trade.

Sunday 16th May 2021

I posted a set up on Tesla a few weeks back and it has been unfolding nicely over the past couple of weeks. To be honest, I am never a fan of shorting a stock as it is risky business. What we will now wait for is the correction to end around the 400-450 zone. This will provide a great entry to buy the stock outright, and possibly execute a leveraged position. Tesla appears to be leading the market, especially the NASDAQ.

Friday 30th April 2021

Crude Oil – We were stopped out this week going short on crude oil, however, I am still in the camp of seeing further downside here. The bear flag structure is still in play. The USDCAD is still under pressure and is approaching a major support zone. Once the USDCAD bottoms there could be a large reversal meaning a stronger USDCAD and weaker oil prices. We will remain on the sidelines for the time being.

Wednesday 28th April 2021

The USDCHF is in an interesting area. The pair have returned to the base of a rising channel formation. Technically this could be a nice entry for a buy position, however, we are long on the USDJPY and short on the AUDUSD therefore it may not be wise to go long here as well. Let’s track this to see how it unfolds.

Tuesday 27th April 2021

JPY is weakening across the board leading into the BoJ interest rate decision and statement at 1pm this afternoon. Interestingly, the AUDJPY is setting up a possible pennant formation inside a large rising wedge structure. A breakout to the upside would suggest a move towards the 86 resistance is on the cards. However, keep in mind the US stock market is becoming very toppy, therefore there is a risk of a large pullback soon which would push strength back into the JPY. In the short term, JPY weakness should continue to play out.

Monday 26th April 2021

The CADJPY is trading beneath a negative trend line resistance. The US stock market looks bullish, therefore we may see a risk-on sentiment meaning a weaker JPY. Watch out for any possible breakout to the upside here. Targets can be found at 87.10-87.50 initially.

Friday 23rd March 2021

 

TESLA is showing a potential bearish set up here. The overlapping nature of the recent structure suggests the stock price is in an ABC correction meaning price can revisit the 500-400 lows.

Wednesday 21st April 2021

The VIX has broken to the upside of the falling wedge structure as highlighted last week. This has created a risk-off sentiment in the market (in the short term), traders have moved into safe-haven currencies like the USD and JPY with global equities declining overnight.

Tuesday 13th April 2021

AUDCAD – Firstly, we are long already on the AUDJPY and AUDUSD so I wouldn’t recommend going long here just yet. Ideally, we would like to see a breakout above 0.9590 before committing to another AUD long trade. From a technical perspective, there is an inverted head and shoulders formation in play so we can use the 1.618 fib extension as a target if there is a breakout at 0.9740.

Friday 9th April 2021

Taking a look at the AUDJPY on the shorter term, it appears as though a bullish set up is forming. We will be looking to build into a long position once the 83.85 resistance is taken out, we will also be looking to add to the position once the 84.30 resistance is broken.

Thursday 8th April 2021

The AUDJPY is currently trading on a key trendline support. Looking at the formation at the top of this trend, there is possibly a head and shoulders formation in play. However it is too early to call a top in place. Equities are looking VERY high, and we are expecting a large correction over the coming weeks. We can not rule out a final push higher on the AUDJPY into the wedge formation before the breakdown.

TESLA

We decided not to go in for a long position on Tesla, purely due to the current formation on the price action. This overlapping structure can be considered a correction rather than impulsive. If this is a corrective structure it would suggest Tesla could be heading lower. Tesla is possibly ahead of the rest of the tech stocks, we are expecting a final push higher on the NASDAQ before a larger correction.

Thursday 1st April 2021

We have been watching Tesla for buying opportunities as the stock dropped roughly 40% from its most recent high. This appears to be huge discount and buyers may look to step back into the market. The question is has the correction finished. The breakout on the tech NASDAQ looks bullish from a technical perspective. Tesla has also broken out of a possible bull flag structure after bouncing on a key trend line support.

Friday 26th March 2021

GBPUSD – The pair broke down from the rising trend line support, however, we are yet to see a confirmation on the breakdown. I would like to see a retest and rejection. IF the GBPUSD breaks back above the trend line we can look for long opportunities in the market.

Wednesday 24th March 2021

EURNZD – The pair had a huge run higher breaking out of the falling wedge formation. VERY gutted I missed the trade on this one, well done to those who traded the pair on their own from the previous analysis. The EURNZD could be approaching a key resistance at 1.7000

Thursday 18th March 2021

The AUDCAD is testing a negative trend line resistance. The overall trend is bullish, therefore once a breakout occurs we may see a continuation to the upside. We are waiting for a breakout to potentially go long in the trading floor.

Tuesday 16th March 2021

GBPUSD – If the DXY breaks beneath the bearish level we can expect the GBPUSD to benefit. Technically, there is an inverted head and shoulders formation suggesting we could see a break above the neckline at 1.4000 over the coming weeks.

Monday 15th March 2021

EURNZD – weekly charts have set up a very interesting candlestick formation. There has been three weekly inside bar formations which is VERY rare. I guess this is potentially why the currency pair has been pretty frustrating to trade over the previous weeks. Price is compressing between a very tight range, and we see this being our HOT chart, there could be an explosion on the pair soon. The falling wedge formation suggests price could surge higher once the 1.6670 resistance is taken out.

EURNZD 4 Hour Charts are showing the pair trading at a key resistance zone. There is also a negative trend line resistance coming into play. We will be keeping a close eye on this pair for long opportunity once the falling wedge formation is broken to the upside.

Friday 12th March 2021

EURNZD

The EURNZD is still toying with the idea of a bullish breakout. For this to happen the market would need to turn towards a risk off sentiment (meaning a rally on the DXY). This pair has been very frustrating over the past couple of weeks as the price action has been trading in tight ranges.

Technically, a breakout above the bull flag structure would give the green light to trade towards the 1.6750 resistance zone.