Free Live Trading Workshop, London – 27th January 2016

Hi everyone,

First of all, a belated Happy New Year to you, and wishing you all the best for 2016!

I am presenting a free trading workshop in collaboration with Trade With Precision the week after next in London, and you are invited!

Read a little more about it here, and feel free to register to attend- I look forward to catching up with you then!

There are limited seats, and they will fill up fast.

Here is the link to register:

http://member.tradewithprecision.com/free_live_trading_workshop_london2016

tradersWorkshop

 

Best,

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GBPUSD Review – something for us all to remember

Hi Guys

Well, last week was memorable, the interesting common factor in these market anomalies is that the early warning signs are there in both the technicals and the fundamentals, so although these events are shocking to the market they’re not entirely surprising.

A quick review of last week’s analysis for GBPUSD, which failed to continue higher after breaking above the range.

It’s important to remember that even though your criteria for a market bias may well be met, if there isn’t enough genuine underlying market momentum in your favour, then it’s unlikely to push through.

Strong momentum is what we want when price consolidates before a potential break out in the direction of the trend. This is why it’s preferable to allow price to pullback and test the broken level and confirm it as either support or resistance before considering whether the set-up is valid; the level gives us the where, the right price action signal is our when and how we enter the market.

If I had one criticism of last week’s GBPUSD analysis, it’s this, the close of the 08/16/15 Weekly candle that had just broken above the range, had not quite exceeded the high of the 07/26/15 Weekly candle at 1.5689. In basic terms, bullish momentum was potentially drying up. See Weekly chart below.

 

GBPUSDW230815 REVIEW

 

As I’m sure you’ve noticed markets are a bit of mess at the moment, but I will be posting any charts that start to show clarity.

 

Layla x

Week of 23/08/15 GBPUSD Overview

Hi Guys

I hope you all had a good weekend, here is our first market analysis for the week ahead.

As a general rule, our focus will be on the Dollar pairs, but this is an evolving blog, so in time new elements will be added. Our intention is to give you an overview of each currency’s potential direction bias and horizontal levels. At this stage it won’t be about the specifics of getting into a particular trade, in time that will be addressed separately.

Thank you and have a good week.

Layla.

 

GBPUSD

Since finding soft support (a combination of bounces and breaks) at 1.4600, GBPUSD has formed four higher lows and three higher highs indicating increased buying momentum. We now have a Weekly candle that after five weeks has fractionally pushed above the average Daily range level of 1.5675 (marked in pink) and closed higher at 1.5686.

It would be logical for price to potentially pull back into the Daily 10 MA at approximately 1.5630 before attempting to continue higher, however we can’t rule out a momentum move without a retracement. Either way should bullish sentiment persist GBPUSD’s next potential resistance zone would be a combination of factors consisting of a large cycle (Weekly chart) 50. Fib level, the Weekly 200 MA and a strong level (more bounces than breaks) at 1.5900.

 

GBPUSD Weekly Chart

GBPUSDW230815

 

GBPUSD Daily Chart

GBPUSDD230815

AUDNZD trade alert!

Please evaluate this for yourself before making the final decision!

This is a very short post, guys- apologies.

I’d consider a buy order, to go long on AUDNZD, entering above the high of today’s close bar, so I would place the order on Monday morning.

My stop would be below the most recent low e.g. 1.0340, with at most, 2% of my account risked.

The trade will have to run for up to 3 or even 6 month, or with a target of 1.3500.

Why am I looking at this?:

  1. All time low.
  2. Bottom of historical range.
  3. Strong reversal bar today,
  4. Weekly rejection bar.
  5. Monthly rejection bar in formation. (this could change)
  6. Bullish divergence on Daily chart.
  7. Bullish divergence on Weekly chart.
  8. Bullish divergence on Monthly chart.

 

Hope this helps,

Adam