EUR/USD triple treat

On Monday, this blog piece laid out a strategy to go triple short EUR/USD. A key part of my overall strategy is identifying higher reward to risk ratios, and this set up ticks the box, with each entry risking between 50 and 100 points against potential gains of 500 to 900 points. The triple short […]

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Chart Signals – Friday, June 26

Asia Pacific indices Australia 200 failed to hold above a Fibonacci cluster near 5,655 and has been knocked back toward 5,620 from a lower high near 5,700. Next support possible near 5,600 then 5,555 a Fibonacci level. Japan 225 continues to slide back from 21,000 with resistance falling toward 20,830 and the index trading near […]

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Chart Signals – Thursday, June 25

Asia Pacific indices Australia 200 has dropped back to retest 5,670 as new Fibonacci support as is common following a breakout. Initial resistance has emerged near 5,700 followed by 5,790. RSI above 50 and rising indicates upward momentum increasing. Japan 225 looks like it may have peaked. An early run at 21,000 faltered short of […]

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“It Can’t Go Further!”

How many times have you heard the sentence “”it can’t go any higher/lower”. It is usually said before an almighty blowout of one’s trading account and I have to be honest and tell you back in the early days I too suffered the pain caused by this common misconception – ‘the markets can’t go further!’ […]

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Chart Signals – Weds, June 24

Asia Pacific indices Australia 200 continues to rally, driving up through 5,670 to clear a Fibonacci cluster with support climbing toward 5,655. RSI clearing 50 confirms the upturn with next potential resistance near 5,790 where a Fibonacci test and previous high cluster. Japan 225 is breaking out today, clearing 20,640 and driving decisively higher toward […]

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Chart Signals – Tuesday, June 23

Asia Pacific indices Australia 200 keeps advancing with the index clearing 5,600 and trading near 5,635 with next resistance at a Fibonacci cluster in the 5,655 to 5,675 zone. RSI moving back above 50 signals momentum turning upward. Japan 225 has broken out of a short-term downtrend and up through its 50-day average near 20,225 […]

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EUR/USD – triple short

A hard deadline looms for Greece, with payments to the IMF due by 30th June. Default of some kind is looking more likely, yet EUR/USD is going through another bought of strength. The recent rises put the pair at a point where traders may wish to start scaling into a short position, despite a short term […]

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Chart Signals – Monday, 22 June

Asia Pacific indices Australia 200 remains on the rebound with 5,555 emerging as new higher support with next resistance near 5,600 then a Fibonacci cluster near 5,650. RSI still needs to regain 50 to confirm the upturn. Japan 225 keeps rolling over and forming a rounded top. Resistance has dropped from near 20,225 toward 20,190. […]

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Chart Si9nals – Friday, June 19

Asia Pacific indices Australia 200 faltered short of resistance near 5,600 for the index and 50 for the RSI, but has held 5,500 as it continues to base build around 5,555 a Fibonacci level. Next resistance on a breakout at a Fibonacci cluster near 5,655 with next support at a Fibonacci cluster near 5,455. Japan […]

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Chart Signals – Weds, June 17

Asia Pacific indices Australia 200 keeps creeping higher as it tries to build a base. Having rallied up off 5,440 through 5,500  it has regained 5,555 a Fibonacci level and rallied on toward 5,580 with next resistance near 5,600 then a Fibonacci cluster near 5,655. RSI gaining on 50 suggests downward momentum easing and an […]

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