Quiet quiet markets. Not the best way to start of these weekly predictions and ideas but I have managed to put a few things on your radar. Before I get into them I want you to pay attention to my reasoning and explenation behind them as some of these opportunities are more ‘forced’ than normal simply due to the nature of the markets recently and the way I personally analyse them.
I will start off with my portfolio to just get it out the way because I see absolutely nothing on them that would put me on alert for anything. Of course every morning I have to check for FTB signals but aside from that this week is clean. Heres an image splitting my 4 pairs into the Daily and 1hr time frames. I trade 4hr patterns on 2 of these pairs but nothing on there either for me.
On GbpUsd I really just haven’t got any interest right now but wouldn’t be surprised at a bullish break up as we have a flag type pattern setting up. On EurUsd we did break below on daily which had me interested in a short but I have been stopped out twice now and the red line was my limi and we have closed above. I do have a bearish bias still but will need a break below the green line and a pullback to get short and look for retests of the 1.12 evens at least as a secondary target.
AudUsd has some similarities for me to EurUsd in terms of Daily breaking a structure level and I believe we can go and retest the green line. However it is just a mess overall consolidation and I would be quite fussy on how I can get involved to go lower. If we break the baby blue line it is an opportunity but the darker one would be preffered to be broken. Again I’m planning on just sitting and waiting. GbpAud is really messy for me. It’s combined the 2 pairs with least interest together. We did break and close above the red line and I think theres room to carry up to 1.90 but due to the yellow box being a dt then the v bottom getting broken I’d like to wait for another break above. If we break lower there might be a conservative shorting opportunity.
So that was my portoflio. As you can probably tell from my ‘if this then maybe that’ approach it shows the interest I currently have on my portfolio. There is always opportunities to force but I’d like to have more confidence and reasoning behind my trades. Now that’s done heres a few opportunities on other markets which I picked out to keep an eye on
AudCad is quite interesting and I’m really curious to see what happens. As you see on the Daily it is beautiful consolidation. Don’t we love the mess and indecision. However through all that it looks like there might be an opportunity in there. We have a Head and Shoulders pattern formed. Even though it is not after a bearish trend, the moves have been quite impulsive. I believe we can come slightly lower to the green zone and push for a retest of the highs and eventually up to the red zone. However I would be very cautios off that orange zone. A lot of inside structure if you look back a few weeks it has been well respected and we have had a strong rejection just now. Again it is not the best opportunity out there but it is something and I really want to reitorrate that theres a difference between a good and potential trading opportunity and just a likely possibility. Thats probably how I would differentiate between my posts. Opportunity vs likely possibilities.
And to finish things off heres 3 advanced patterns I see setting up on a few more random pairs. I will be taking them on a demo account just for practice and forward test before I backtest them if I choose to.
So there it is. My first weekly predictions and ideas. Let me know what you liked or disliked about it. Do you want more detail or less. Anything you guys want let me know and I will see how I can help.
Make sure to stay up to date on my social media where I will post how some of these play out and opportunities to get involved.