Greetings. There are some setups worth watching in the coming days, such as the following:
GBPUSD: recent sell-offs are suggesting that more pressure on the trendline around 1.6150 is likely, and current lower-highs formation is intact – therefore keep an eye on the highlighted resistance zone if current recovery continues. I think it’s worth looking for selling opportunities around 1.6400 if the recovery extends higher and such candlesticks are exactly what to wait for. Selling on the break lower is also a decent plan, at least in theory.
- GBPUSD daily chart 6-13-2011
EURGBP: current sell-off is quite strong, as seen in the daily chart below, and the pair appears headed for more weakness – .8650/60 being the next important support zone.
- EURGBP daily chart 6-13-2011
USDJPY: 61.8% retrace value of last up leg is providing support at 80, which is under pressure since a week ago. Will it hold? Well, I don’t think so, and will carefully watch this 80 zone.
- USDJPY daily chart 6-13-2011
NZDUSD: uptrend is still strong if we look at the whole picture but maybe it’s time for a new correction, and this support zone at .8100 is quite fragile, so it’s worth to consider selling on break below with a target @.7800.
- NZDUSD daily chart 6-13-2011
AUDJPY: Risk sensitive pairs such as AUDJPY are being hurt by declining equities, so a break below 84.50 is possible – following USDJPY below 80.
- AUDJPY daily chart 6-13-2011
This is all for now. I’ll post an update in a couple of days and will most likely share some other setups soon.
Cheers!
You are really doing wonderful work. For the past two (2) trading days I followed your analyses, it worked perfectly. Though, I didn’t trade them because I felt it was not proper jumping into a trade base on someone’s analysis whom you have not confirmed.
I also know that we are human and some cases get the analysis wrong. So, traders must realise that forex can go wrong at times.
May God to continue to bless you as you tries to help traders out.
thanks, I don't advise anyone to do what I do etc., I'm just sharing some of my plans and setups I find worthwhile.
I guess that people get to know sooner or later that following anyone else is not the best thing to do in trading, but rather learn something from others.
GBPUSD is dropping like a rock after forming a pin bar yesterday at the resistance zone highlighted in the post
This is an excellent setup and very good to see a big picture from a pro trade. By the way, can I ask where you are located?
sure you can. Romania, not related to Dracula though :p