Good morning everyone.

How was your week ?

Judith and I had a look at the market on Monday and made a list of pairs we wanted to focus on for the week.

I had limited screen time this week so dint really trade myself……I left that to Judith 🙂

Our list had the following pairs (also mentioned in the webinar on Tuesday)

  • Euro/Dollar to short

  • NZD/dollar to short

  • Euro/GBP to short

  • Aussie/Dollar to short

  • Aussie/JPY to short

  • GBP/JPY to long later in the week.

Some of the levels I called on Monday did trigger entries and did give pips…..one that stands out will have to be the Earth and Sky short on the Aussie/Dollar that at least got to the main profit take area (last week’s low).

However – looking at some of the other charts this morning one thing I picked up was the fact that we struggling to have follow through.

The levels we called this week were once again spot on……but the lack of follow through is really annoying !!

Follow through brings profit !!!  Lack of follow through makes it difficult !!!

Let have a look at some notes before the weekend starts and as homework you have to go visualize better markets for next week……………

Remember……….

My notes for the past week: 

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1) Euro Dollar on the DAILY chart:

Notes:

We long on the 4 hour chart and mixed on the daily chart if we look at the direction indicator. Last week we only closed plus 5 pips higher than the opening so we very flat so we can’t even fib that.

My plan will be to look for shorts between 1.1662 and 1.1738 areas as we have some roadblocks here that can give resistance…..this is also the neckline area for that head and shoulder pattern that broke to the downside.

Otherwise I will re look to long from 1.1474 and 1.1393 again where we a daily 200 EMA and MS2 pivot waiting to give support.

Tuesdays notes:

I will stick to the above plan. Price dropping and we getting closer to the support areas.

Fridays notes:

Still in no man’s land and we had a range of only a 100 pips in this no man’s land area……I will stick to the above plan.

 

Price once again just camping out at the 4 hour 55 EMA at 1.1628.

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2) Euro JPY on the WEEKLY chart:

Notes:

Sitting on my hands with this pair. If we look at the weekly chart we can see how the Bollinger bands is closing plus we sitting at loads of EMA`S plus we have MACD divergence….so all warning signs for a possible deep correction on its way.

Tuesdays notes:

I will stick to the above plan.

Fridays notes:

We sat on top of the daily 55 EMA at 132.00 for most of the week.

 

My plan will stay as above……first support roadblock at 131.00 and then between 130.29 and 129.72 where we have some EMA`S and MS2 waiting to give support.

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3) Euro GBP on the 4 hour chart :

The daily direction Indi is mixed on the daily but short on the 4 hour – however we closed plus 43 pips higher than the opening of last week so we can’t fib to get a short zone.

Notes:

We have a roadblock at 0.8904 and 0.8915 where we also have a bear trend line coming down so this will be areas for possible shorts while it holds as resistance.

Keep an eye on what the GBP/Dollar is doing as its negative correlated with this one.

Tuesdays notes:

Judith and I got out of our short on this one. Looks like we finding support at the 0.8800 level for now.

I will re look to short again from the roadblock area we have at the 200 and 55 EMA at 0.8897 and 0.8910  if price slows down there.

Fridays notes:

Keeping an eye on the resistance roadblock we have between 0.8889 and 0.8900 where I will re look to short from.

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 4) GBP Dollar on the 4 hour  chart:

The direction Indi is long on the daily but short on the 4 hour. Last week we broke all the EMA`S to the downside and we currently underneath it so I will give the 4 hour a go for a short zone.

Currently I have an Earth and Sky short zone between 1.3180 and 1.3250 with areas to keep an eye on at the 38.2 fib at 1.3147 and 1.3169 and 1.3192 resistance areas where after I will re look to short this pair again.

Possible counter longs at 1.3003 and 1.2974 support levels.

Notes:

Currently in no mans lands so wait for price to come to you.

Tuesdays notes:

Price pulled back nicely to our area of business and found resistance at my 1.3169 level I called. Price already gave confirmation and we dropping away from the short zone.

I will re look to short if we get back up to the 200 and 55 EMA`S starting from 1.3160 and 1.3188…….otherwise if we don’t get the pullback and price keep on dropping then I will look for support at 1.3040 and 1.3005 where I will re look to long again if we find nice clean support here.

Fridays notes:

The 1.3169 just under the 50% fib at 1.3180 was a key resistance this week. Price tested this level twice this week and dropped back…..however we didn’t have enough volume/momentum to push it down to last week’s low at 1.3040 where we want to take the main profit.

 

While the 200 EMA at 11.3181 holds my bias will be to look for short.

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5) GBP JPY on the WEEKLY chart:

Notes:

Sitting on my hands with this pair. If I look at the weekly we can see last week on my platform we closed with a perfect doji candle……0 pips from last week’s opening to closing……and we sitting at a cluster of EMA`S at the moment so warning signs that we might be running out of steam here with bullish moves.

Tuesdays notes:

I will stick to the above plan

Fridays notes:

Looks like we trapped in a triangle  – that is why we only had a range of a 100 pips within this triangle so its building up for a break out.

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6) Aussie Dollar on the 4 hour chart:

Currently I have an Earth and Sky short zone between 0.7674 and 0.7707 areas to keep an eye on at the 38.2 fib at 0.7674 and 0.7685 and 0.7698 resistance areas where after I will re look to short this pair again.

Possible counter longs at 0.7616

Notes:

This one is on my wish list this week.

Tuesdays notes:

This one had a nice correction to our earth and sky short zone…..and found nice resistance at the 55 EMA at 0.7685 level I called.. Price gave confirmation to short and we already reached the first target at last week’s low at 0.7639.

Second support and profit take at the WR1 pivot where I will re look to long again as it might also be a double bottom area.

We made new lows so follow price with your fib to get the adjusted trading short zone.

New short zone currently between 0.7678 and 0.7704 with areas to keep an eye on at 0.7678 and 0.7690 for possible shorts.

Fridays notes:

This was the earth and sky short of the week. Price found resistance at the 62.5 fib at 0.7692 and dropped to our profit take at last week’s low

 

Currently we are back in the short zone but be careful as I feel we might move higher to the WR1 pivot at 0.7707 where I will re look to short again.

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7) Aussie JPY on the daily chart:

Notes:

Possible shorts from the roadblock at the high at 80.00  and possible longs from the support roadblock at 86.14

Tuesdays notes:

Price found resistance at the roadblock resistance EMA`s and dropped back again.

My plan stays the same as above.

Fridays notes:

Big roadblock for this one at the 87.66 area. My plan stays the same as above.

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8) Dollar JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between  113.83 and 113.40 with areas to keep an eye on the 113.83 and 113.77 and 131.61 and 113.40 support areas where after I will look to long this pair.

Possible counter shorts at 114.71 resistance levels.

Notes:

Currently in no man’s land so wait for price to come to you.

Tuesdays notes:

Price dropped into the zone and found support at the 55EMA at 113.77 level I called and gave a long setup.

Currently we slowing down so keep an eye on volume/momentum on this one. If we run out of steam we can fall back again so if you in a long set up….protect your entry.

Otherwise….plan will still stay the same as above.

Fridays notes:

Price found support at the 55 EMA in the early part of the week and gave some pips but there was no follow through and we dropped back again but this time past the long zone.

 

I will keep an eye on the 200 EMA at 113.00 for support followed by along set up.

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9) Dollar CAD on the DAILY chart:

Notes:

We long on the 4 hour chart and mixed on the daily chart if we look at the direction indicator. Last week we closed MIN 62 PIPS LOWER than the opening so we can’t fib the 4 hour chart to get a long zone.

My plan will be to look for possible short set ups at last month’s high at 1.2911…..

Otherwise I will re look to long from 1.2600 again where we had the inverse head and shoulder neckline and some EMA`S that can give support again.

Tuesdays notes:

I will stick to the above plan.

Fridays notes:

Price dropping back and we entering the long zone. I will look for long set ups as long as the MS1 pivot at 1.2577 holds as a support area.

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10) Dollar Index on the DAILY chart :

Notes:

We long on the 4 hour chart and mixed on the daily chart if we look at the direction indicator. Last week we only closed plus 7 pips higher than the opening so we very flat so we can’t even fib that.

My plan will be to look for shorts between 95.35 and 96.00 areas as we have some roadblocks here that can give resistance.

Otherwise I will re look to long from 93.77 again where we had the inverse head and shoulder neckline and some EMA`S that can give support again.

Tuesdays notes:

I will stick to the above plan.

Fridays notes:

Still in no man’s land on this index and I will stick to the above plan.

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See you all later alligators.

Regards

Pierre

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