$NZDUSD Update

$NZDUSD D1 chart - Bounce from October low at the moment. Break below should target next support at 50% Fib retracement level at 0.7903 and I'm hoping to see 0.76468 after that.

GBPUSD Analysis

There is a good chance that cable had completed another minor correction phase from its last impulse wave. First target is around 1.5864 which is the 100% projection of 1.6744 to 1.6058 from 1.6546. Longer term projection is around 1.5445 which is the 161.8% projection. As for risk assessment, a break above 1.6100 will change my view regarding this trend continuation.

USD/CHF: Keep On Selling

Above is USD/CHF daily chart which showed my chart setup for USD/CHF. I shorted the pair again targeting 1.0717 level near 50% retracement of 1.0501 to 1.0923. The stop loss level is above the 1.0923 level. I also add a blue channel there based on the last three waves. Okay that is all for now. Happy trading!

GBP/JPY: H1 and H4 Chart

GBP keep on gaining against Yen after a reguler-hidden divergence combination on hourly chart. At the moment, GBPJPY is facing the resistance trendline but still maintain above 144.70 level. Further pull back may be seen until 144.00/30 area. 4-hour resistance trendline is now around 146.50, but 145.50 area is enough for me ;P

GBP/USD H4 and Daily Chart, Buy Now

My setup from my previous post didn't play right although the pair did made a lower low. Cable tested the 1.4781 support and reached as far as 1.4797. On daily chart, the candlestick make a reversal pattern (forgot what they call that pattern :P) and still forming a divergence in both 4-hour and daily chart. However, confirmation for uptrend in 4-hour time frame is above 1.5381. If you aggressive enough, you can buy now with stop loss below 1.4781, targeting 1.5381 first and 1.5581 (38.2% retracement of 1.6877 to 1.4781) after that. That is all. Have a nice weekend guys!

GBP/USD H4, Sell Below 1.4976

Above is Cable 4-hour chart. The pair broke the rising trendline and testing 1.4976 level at the moment. I'll keep my short position as long this level remain intact. Support suppose to be around 1.4872 (March 10th low). Ok thats all. Have a nice day guys!

GBP/JPY Break H4 Trendline

The pair reach 61.8% retracement of 143.59 to 132.00 at 139.16. It reversed since and made a nice bearish candle on weekly chart. It also break H4 trendline and the pair might continue the down trend. Support levels can be seen around 135.16 first and 133.88 next before testing 132.00. As for risk, I think 38.2 level (136.43).

GBP/JPY at 61.8% Retracement, Buy Signal

So the pair fail to break 137.80 and reach 61.8% retracement (135.50) near the support trendline. There are no signs of reversing yet but I already put my buy limit order :P Nevertheless, it seems like a good price to enter long. My stop loss is below 134.90. The target should be the resistance trendline again near 137.80 but I'm only going to take 40-50 pips.

GBP/JPY Reach Target

This is an update from my last post. The pair has reached target at 137.80. The trend in hourly is still bullish but I would wait a break above that 50% Fib level to confirm another move up. Another resistance is around 139.16 which is 61.8% Fib level. On the other hand, GBP/JPY might go down to the support channel again or look for 50% to 61.8% retracement (between 135.5 and 136.00).

GBP/JPY Update

The retracement from Friday reach 61.8% and formed a double bottom. It has been moving up since. First target it the 50% level of the 5-wave down from 143.59 to 132.00 at 137.80. Stop loss around 136.

GBP/JPY, GBP/USD, and EUR/USD Update

These are the update for GBP/JPY, Cable, and EUR/USD from my last tweet about chart setup.


The pair finally break a side after going sideway since it reach 132.00 low. I missed the first breakout of 134.02 but luckily I got another opportunity. The pair reached 2nd target (which is also the neckline) after NFP data released. I think we'll see corrective movement in hourly next week before it reach 50% fibo level (137.80). Otherwise we'll see a reversal signal and we can start selling the pair again ;)


GBP/USD
Cable still moving inside the corrective channel, support by 1.5000 level. I think we can still targeting the 50% fib level around 1.5300 next week. I have closed my position yesterday along with my GBP/JPY position. So I think I'm going to wait for a dip near the support channel before buying this pair.


EUR/USD
The euro still moving between 50% and 61.2% Fib level. I am just going to stay out of this pair until a significant break occurs.

EUR/USD Reach Target

The pair has reach the target mentioned in previous post and found support at 1.3582. The pair retrace back to 1.38 since the open of this week market. It has not been clear yet of the retracement pattern this time, but I think the down trend ain't over just yet. On daily chart above, we can see that 1.3800 area was a serious support level around June last year, and even at weekly chart we can see a clear break from 1.3800. First target is the 61.8% retracement of 1.2457 to 1.5144 at 1.3483. You can see other levels in the chart above.

EUR/USD Bearish View

Above are EUR/USD monthly and daily charts. I tried to count the wave on monthly chart which suggest that the pair is on the third correction wave (c). The bottom of wave 4 is at 1.1639, just between the 50% and 61.8% retracement level of 0.8225 to 1.6037.

On daily chart, the pair already broken 61.8% extension of 1.5140 to 1.4217 from 1.4577. The 100% projection is around 1.3660 and 161.8% around 1.3090. Set your stop loss and let the pair fall guys!

GBP/JPY Reached 23.6% Retracement

The pair has retraced 23.6% of 139.26 to 149.14 at 146.81. There are several support level here, broken trendline and 38.2% level of 118.80 to 163.06 (blue Fib) at 146.16. Break of these support levels should target 50% and 61.8% level. On the upside, first resistance is the falling trendline before testing 149.14 high.

GBP/JPY Near 113%, Cable Still In Range

Above is GBP/JPY 4 hour chart. It is pretty much the same with the one from the previous post. As expected, the pair went to 143.74 and tested 141 support again. However, it failed to break 141 area and reversed instead. The pair broken several resistance and now near 113% (yellow Fib) following the US unemployment release on Friday. Break of 113% (149.38) could bring the pair up to 23.6% level of 118.80 to 163.06 at 152.62. Failure to break this trendline could bring retracement to 146.20 area first, but I'll update on this since we don't see any sign of the top.

GBP/USD
Cable had a perfect negative correlation with GBP/JPY after the NFP release. The pair broke the support trendline and reached 1.6430 (38.2% level) before closing the week at 1.6474. I expect another ranging moves between that S/R lines (see chart) next week, at least until UK interest rate announcement.

GBP/USD And GBP/JPY Bounce From 50% Level

Cable has reached the target mentioned in previous post while GBP/JPY broke the TL and went further down to 140.93 support. I am expecting GBP/JPY retracement toward 143.74 and Cable ranging between 1.6292 and 1.6466. For the downside, break of current lows should target the next Fibonacci level which is 61.8%.

Cable: Wait For Retracement Or Below 38.2%

After making a higher high from the previous week and formed double top formation, Cable broke the trendline/target from my previous post and touched 5th Nov low before closing at 1.6500. I think the pair will definitely test this month low at 1.6261 near 50% Fib level and the another support trendline.

Entry
I am anticipating 2 scenario of retracement toward the broken trendline: a lower low to 38.2% level at 1.6430 first or straight retracement to test the broken trendline near 23.6% level at 1.6601. The third scenario is a smooth move to 1.6300 area. So, I will enter short near 1.66 if Cable retrace or below 38.2% Fibonacci at 1.6430, 70 pips from current price.

GBP/JPY Targeting The Lower Trendline

The Pound lose against the Yen to 147.31, following the triangle break and 148.40 support. My key support level is around 146.46/74 (near 50% level of 139.70 to 153.22), which is my target for current position. Next target is the rising trendline from daily chart near 61.8% level at 144.86.

GBP/JPY and GBP/USD H1 Setup

Just a quick update for GBP/JPY and GBP/USD hourly chart setup before the week starts. GBP/USD reachead 50% retracement after went as high as 1.6843 on Monday.The pair bounced from the falling trendline on Friday and I plan to enter on trendline breakout. GBP/JPY had a similar move with GBP/USD, tested the resistance on Monday, tested the support after that, and closed near the week open. Anyway, the is the same with GBP/USD. Thats all. Have a nice day guys! oh one more thing, I can't upload the chart from blogger so click the links below ok..

http://pic.gd/ae7dfd
http://pic.gd/1b6e30

38.2% Target Reached, 50% Next

From last post, GBP/JPY finally reached target at 148.06 (38.2% retracement) after 3 days. It crossed above initial SL actually but remained below the neckline. The pair bounced after slightly breached the 38.2% level as high as 149.29 now and touched the falling trendline. I shorted the pair at 149.17 targeting the 50% level at 146.46. Notice that that level set near 38.2% level of 118.8 to 163.06. I put my initial stop loss around 149.7.