Blog and Updates

Snapshot: GBPUSD, NZDCAD & EURJPY

GBPUSD Price moves in a never-ending cycle of these things, followed by those things, and then these things again, and so on. See below: These things are the impulse/trending moves. They dominate your screen; they close strongly, they often don’t have much wick (the candles) and price moves. Those things are your retraces or consolidations […]

Weekly Snapshot | May 28

EURUSD If the EURUSD started closing above 1.1730 on the daily timeframe, I might think that the downtrend was in trouble. For now, though, the bears still look firmly in control – no longs for me. Can price keep going down after it’s gone down so abruptly? Yes. My strategy is to wait for minor […]

Weekly Snapshot | 7 – 11 May

EURUSD Last week saw the 1.2070 level fail to hold EURUSD, with price managing to dip into the 1.1900 zone before slowing. While price remains under 1.2070, I favour the short side – with either a retest of 1.2070 from below (1) or short entries on a daily close below 1.1920 (2). GBPUSD Similarly, on […]

GBPJPY: The sleeping dragon

I want to start off with a general market concept that is very important for all to understand. Here we see a weekly GBPJPY line chart going back to 2012. I have marked up two areas across the chart, namely: consolidation and expansion. Don’t read too much into the shapes I have drawn to show […]

Weekly Snapshot | April 9 – 13

This week we’re looking at four markets: EURUSD, EURCAD, EURNZD and NZDUSD. EURUSD The shared currency has had a lacklustre 2018 so far, and whether you feel the consolidation is best represented by the box I’ve drawn in, or the wedge structure, your conclusion is the same: Nothing much to see here. We need price […]