Hi everyone.

Whats up and whats down this Friday morning?

Well, we had a bit of tug of war going on at our entry areas this week with price pulling back to close to comfort to our stop area……but we managed to survive……just !!!

The Euro/Dollar had a big tumble this week and dropped right past our Earth and Sky long zone and by the looks of it might be on its way to the mother in laws dinning room table (4 hour and daily 200 EMA`s) at 1.0813 and 1.0797. If that is the case, the this will be a key support area to keep an eye on for next week.

One of the counter trades of the week will have to be the GBP/JPY. This one came very close to the WS2 pivot point at 148.20 with MACD divergence showing warning signs on the 4 hour and 60 min chart , that there is a possible correction coming up. This counter short gave us well over 120 pips…….currently hitting support right now on this one.

As for my Earth and Sky zones……it was only the GBP/Dollar that triggered from the 50% fib in the early part of the week giving 60 odd pips to last weeks high area before a pullback again……..BUT the week is not over. We hitting Earth and Sky zones right now and one that I will be keeping an eye on will have to be the Dollar Index as we hitting key resistance here this morning that can set the pace for the Dollar pairs later on today and next week.

 

 

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Let’s have a look at my notes from Wednesday……followed by today’s notes.

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1) Euro Dollar on the 4 hour chart:

Price dropped right past the Earth and Sky long zone without any confirmation on the smaller time frames to take a long……so that kept us out of a bad trade.

Currently we are at last week’s low and WS1 pivot so possible support can be here for this pair……..but do be careful. I have a feeling this bearish move is not done yet and that there is a possibility that we can go visit the cluster EMA`s at the WS2 pivot at 1.0813.

If that happens…..then this will be my area where I will re look to long this pair.

Fridays notes:

 

Price dropped right past our Earth and Sky long zone this week without any confirmation to long. Price also took out last week’s low at 1.0875 and by the looks of it, we are on our way to the WR2 pivot and mother in laws ( 200 EMA) dining room table for supper at 1.0810.

If that is the case, then I will re look to long from here if we find good solid support.

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2) Euro JPY on the 4 hour chart:

This one made a new high after my write up on Tuesday so we had to follow it with our fib to get the adjusted zone for the week.

Currently I have an Earth and Sky long zone between 122.92 and 122.11 with areas to keep an eye on at the 123.00 and 122.64 support areas where after I will re look to long this pair again.

Possible counter shorts at 124.77 and 125.00 and 126.00

If we make new highs without the correction….follow price with your fib to get the adjusted trading zone for the week.

Fridays notes:

 

This one is just hanging around no man’s land…….also possible triangle on the 4 hour chart.

I will still look for possible counter shorts from 124.77 and 125.00 and 126.00 and possible support at 123.00 where we have a weekly main pivot, psychological level and 55 EMA waiting. I want solid support here before I will re look to long from this level.

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3) Euro GBP on the DAILY chart :

Currently I have an Earth and Sky short zone between 0.8450 and 0.8520 with areas to keep an eye on at the 0.8450 and 0.8500 and 0.8510 resistance areas where after I will re look to short this pair again.

Possible counter longs at 0.8298

By the looks of it, the buss left the station already last Thursday…..so we will have to wait for a pullback and then a possible re entry.

Fridays notes:

 

As I have said….this bus left last week Thursday already from the 0.8500 level. Price needs to pullback once again to the level before I will re look to short this one. We have also 2 x 200 EMA`S waiting here plus a 55 EMA so it’s a big roadblock.

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 4) GBP Dollar on the 4 hour chart:

On Tuesday I said:

Currently I have an Earth and Sky long zone between 1.2908 and 1.2869 with areas to keep an eye on at the 1.2908 and 1.2888 support areas where after I will re look to long this pair again.

Possible counter shorts at 1.3000 and 1.3026 l

This one touched the 50% fib to the pip where after it was of like a rocket reaching our target at last week’s high in no time.

I will be keeping my eyes on the counter trade levels over the next day or two.

Fridays notes:

 

As I said, this one touched our 50% fib and was of like a rocket….reaching last week’s high in no time……here we burned once again and price dropped back…..and with yesterdays news, dropped like a stone right past our Earth and Sky long zone.

We did find support at the WS1 pivot then but I am a little careful of this pair right now and will re look at it next week only.

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5) GBP JPY on the 4 hour  chart:

This one made new highs after my write up on Tuesday morning so we had to follow it with our fib to get the adjusted trading zone for the week.

Currently I have an Earth and Sky long zone between 145.84 and 144.83 with areas to keep an eye on at the 145.53 and 145.17 support areas where after I will re look to long this pair again.

Possible counter short at 148.00 and 148.20.

Fridays notes:

 

This one did find the resistance at the psychological level 148.00 where after it dropped like a stone with the help of yesterdays news that came out.

Currently we hitting the 34 EMA and 38.2 fib at 146.47 but I will prefer if we can get to the 55 EMA at 145.84 where I will look for solid support and then a possible long set up.

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6) Aussie Dollar on the 4 hour chart:

This one made new lows after my write up on Tuesday morning so we had to follow it with our fib to get the adjusted trading zone for the week.

Currently I have an Earth and Sky short zone between 0.7443 and 0.7500 with areas to keep an eye on at the 0.7427 and 0.7443 resistance areas where after I will re look to short this pair again.

Possible counter long at 0.7336 and 0.7300

We have MACD divergence showing up……so possible correction on the cards.

If we make new lows without the correction….follow price with your fib to get the adjusted trading zone for the week.

Fridays notes:

 

Price found support at the WS1 pivot at 0.7336 and currently pulling back. We have our first roadblock at the 55 EMA at 0.7408 so possible shorts might set up from here…..otherwise if we break to the upside, re look at 0.7446 and if that breaks to the upside –  0.7494 where the mother in law is waiting.

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7) Aussie JPY on the 4 hour and daily chart:

I don’t like this pair at the moment…..don’t like the way how it is not respecting the 200 EMA`S at 83.69/73.

Fridays notes:

 

Dint like this pair at all this week.

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8) Dollar JPY on the 4 hour chart:

This one made new highs after my write up on Tuesday morning so we had to follow it with our fib to get the adjusted trading zone for the week.

Currently I have an Earth and Sky long zone between 112.75 and 111.97 with areas to keep an eye on at the 112.75 and 112.33 support areas where after I will re look to long this pair again.

Possible counter shorts  at 114.11 and 115.00

If we make new highs without the correction….follow price with your fib to get the adjusted trading zone for the week.

Fridays notes:

 

This one found resistance after a huge bullish move this week just on the other side of the WR2 pivot at 114.11 where after it dropped back.

I will still prefer a big correction on this one to at least the psychological level and 55 EMA at 113.00 where I will re look for possible support where I will then look out for long set ups again.

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9) Dollar CAD on the DAILY chart:

Price camping out at the 4 hour 55 EMA at 1.3666 and last week’s low area so possible longs set ups can be on the cards……however, be careful – if this level breaks to the downside we can drop back to the monthly main pivot and mother in law 200 EMA waiting at 1.3500 where I will re look to long this pair!!!

Possible counter trade at 1.3817 area.

Fridays notes:

 

This one just camped out at that 4 hour 55 EMA for most of the week with no real movement. however, be careful – if this level breaks to the downside we can drop back to the monthly main pivot and mother in law 200 EMA waiting at 1.3500 where I will re look to long this pair!!!

Possible counter trade at 1.3817 area.

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10) Dollar Index on the DAILY chart :

Currently I have an Earth and Sky short zone between 98.88 and 100.58 with areas to keep an eye on at the 99.66 9 38.2 fib and EMA`S) and 99.88  resistance areas where after I will re look to short this index again.

Possible counter longs at 98.33 and 97.90

Fridays notes:

 

Price pulled back nicely and we now at a key resistance level here at the 38.2 fib and 2 x 200 EMA`S and monthly main pivot so possible set ups can be on the cards from here if this levels holds as resistance.

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Regards

Pierre

PS: Make the video clip bigger to spot the levels more clearly!!!

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