Weekly Predictions and Ideas 6th May 2019

Welcome to another set of predictions. This week markets got really messed up over the weekend with many large gaps especially on the Aud and Jpy pairs. Makes the market look weird and it would probably be a very quiet week for me again. So lets get into the regular 4 pair portfolio.

On the EurUsd I do think we can still test the blue line level which would be the retest of the lows on the daily. However due to the break of the minor level I wouldn’t be looking for any shorts but I wouldn’t be surprised for it to bounce off the current zone we are in. GbpUsd broke above our killzone on daily and even though I would probably predict another retest lower but there is so many levels of resistance now showed by the red arrows and I am not confident enough to say which one so I wouldnt be surprised by a bit of consolidation for the time being. On the hourly I do think there is a bit of room up. However I don’t see a clear place to enter for the retest at least. The 2 zones highlighted you can argue are the formation of a killzone but not one I am comfortable taking as on the hourly I am in roatation.

AudUsd has just gapped into the huge wick/news whatever event occured a few months back. I cant see myself having any interest in this pair for a long time now unless we go higher. That highlighted zone did hold as predicted and I’d like to see a break aboeve befor looking for longs. GbpAud is at resistance and currently overbought on the daily. On the Hourly the zone is where I expect price to pullback to minimum. As it has been a strong move up I wouldn’t be surprised if we pushed back up for a retest of the highs at least.

So thats my portfolio. Like I said pretty much dead markets for me now and I can only scavenge 3 patterns to put on my 4hr radar so here they are.

They are all a long way out and some would probably get invalidated but nothing close on the radar. So there it is the weekly predictions, much more quiet and we will see how it plays out throughout the week and in the review on Saturday


Published by Lach Plays Trading

I'm a forex trader whos journey began January 2018 and has had its ups and downs but has taught me a lot about the markets and myself as a person. Documenting my journey and sharing my experiences for you to be able to learn from them and my prior mistakes. Fully transparent, not afraid to show losses or speak exactly what comes to my mind.

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: