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Top trade idea for December 2nd, 2016 – EUR/USD

The Euro is thinking about completing a bullish head and shoulder pattern. It’s doing so as markets head into the US Jobs data and the Italian referendum this weekend. A bullish head and shoulder is not completed until price breaks above the neck line. Given the potential for volatility surrounding the jobs data and referendum, […]

Top trade idea for December 1st, 2016 – USDCAD

We’re still looking at the USDCAD pair as the latest OPEC saga didn’t bring anything new to the pair in the sense that price is not going anywhere. That being said, back on the daily chart above, the pattern seems to be virtually unchanged. OPEC agreed to cut oil production starting with next January and, […]

Top trade idea for November 30th, 2016 – EUR/CAD

Despite oil’s massive rally on the back of the OPEC news, the Canadian dollar, which tends to correlate strongly with oil prices, has hardly moved against its major rivals. Indeed, the USD/CAD momentarily turned positive. The EUR/CAD is still down on the day, but it too has held its own relatively well. One has to […]

Top Trade Idea for 11/26/16 – EUR/AUD

  Mathematics is a pure and perfect world. Markets are not. While there are rules for defining technical factors and indicators, sometimes the art of technical analysis requires traders understand what the rules  mean  if they want to avoid crowded trades. This brings us to EUR/AUD. The downward move in EUR/AUD that began mid 2015 […]

Top trade idea for November 24th, 2016 – USDCAD

Back to the USDCAD pair today as the pattern that the market forms here is quite a complicated one. In the end, it turns out that this is a triangle that has for the e-wave a triangle of a lower degree. The whole structure is a very complex one and results in more than thirteen […]

Top trade idea for November 18th, 2016 – Platinum

What interests me about platinum today is a potential double bottom pattern The US Bond sell-off has lost momentum this week. The market is making up its mind about whether to extend the sell off after a brief pause or stage a corrective rally. Precious metals are likely to follow this lead. If bonds do […]

Top trade idea for November 17th, 2016 – EURAUD

The EURAUD cross shown above is forming a contracting triangle that is supposed to be part of a larger correction for the b-wave of a bigger degree. That being said, this contracting triangle should be a bullish one, but the e-wave is most likely not completed yet. The thing is that price should not break […]

Top trade idea for November 16th, 2016 – EUR/USD

EURUSD is turning sharply lower now from 1.1300 area, where pair might have finally accomplished a big and very long sideways pattern in wave IV. It was a triangle pattern which is pointing now to new lows as price keeps trying to make a decisive break beneath the wave D swing low at 1.0847. EURUSD, […]

Top trade idea for November 11th, 2016 – AUD/USD

Capitulation. A market phenomenom that should be on every traders’ radar. This market dyanamic has many different expressions, but the underlying principle remains. A market direction is widely accepted as inevitable. It is the consensus trade. The market fails to move in the “right” direction, and then moves the other way, catching out all those […]

Top trade idea for November 10th, 2016 – GBPCHF

The GBPCHF cross is looking bullish here as it may benefit from two factors moving forward: one will be the overall sell-off in the CHF as the USDCHF major seems poised to break the parity level, and the other one will be the GBP resilience. The US election brought both a panic and a relief […]

Top trade idea for November 4th, 2016 – EUR/USD

EURUSD heads into tonight’s US jobs data with its chart interestingly placed As the Daily chart above shows, yesterday’s peak was neatly at the support of the recent major triangle pattern. If the Euro starts to fall away from here, it will constitute a classic pattern “retest” where old support acts as new resistance. 4 Hour […]

Top trade idea for November 3rd, 2016 – USDCAD

Before taking a look at the chart above, please consider two things: it is on quite a big time frame, the weekly one, and it is being made exactly one week ago. The reason why I chose to make the chart a week ago is due to the fact that this pattern here requires the […]

Top Trade Idea For November 1st,2016 – Crude Oil

Sharpdecline on crudeoilsuggeststhat market cansee more weaknessnow in wave C of B/2, especiallyoncethechannelsupport line is broken. Crude OIL, Daily Regardingthe 4h chart, weseeCrudeoilturningsignificantlylower, nowtradingclose to thelowertrendline line ofanupwardchannelconnectedfromthe39.50level, whichcan be brokensoonifweconsiderthatcurrentpriceactiondownfrom 52.00 is strongandlookingimpulsive. As such, we arenowlooking at a possiblewavecountwhichsuggeststhatenergy is stilltrapped in a consolidationphaseof a big wave B/2. We are looking at wave […]

Top Trade Idea For October 28th, 2016 USD/JPY

I’m not renowned for my general observation skills. My girlfriend often jokes that if she wants to hide something, she’ll put it right in front of me. Similarly some of the best trades are so obvious they’re overlooked. And buying the USD as the Fed heads toward a December rate hike may be one of […]

Top trade idea for October 27th, 2016 – NZDUSD

The chart above is the NZDUSD pair and it is showing a contracting triangle that seems to form at the end of a complex correction. Having said that, it means that it will virtually have no measured move as no limits on the future price action can be imposed. In plain English, it’s a tricky […]

Top trade idea for October 26th, 2016 – AUD/JPY

The Australian dollar rose further overnight after domestic consumer inflation data came out stronger-than-expected. CPI rose by 0.7% in the third quarter compared to 0.5% expected and 0.4% in Q2. After the post-data rally, the Aussie has been unable to climb further in the European session and the bullish run could end quickly if investors […]

Top trade idea for October 21st, 2016 – USD

Markets appear to have made up their mind about the US election. The US Dollar/Mexican Peso exchange rate is back to its medium term trend and looks a chance of falling below it in coming weeks Traders have adopted Dollar /Peso as an election trading proxy because Donald Trump’s policies are seen as damaging theMexican […]

Top trade idea for October 20st, 2016 – AUDNZD

Above there is the AUDNZD cross that is shaping up a bearish setup that most likely started with the last move above 1.07. The idea behind this trade is that the current move should be one destined for parity, so it should be no wonder the take profit is close to that area. Trading with […]

Top trade idea for October 18th, 2016 – USD

USD indexwas in  big sidewayspatternunfoldingsince start of 2015; slowandoverlappingpriceactionwith a personalityof a contra-trend movementthatlookscompleted. Wesee it partlyas a flatcorrection in blackwave IV, a threewavestructurewherefinalwave C should be madebyfivewaves. Well, wehaveseen a nicedeclinefrom November of 2015 counted in fivelegs, but as anending diagonal as shown on a dailychart. That’s a reversalpatternthatalreadycaused a strongbounce in May, so […]

Top trade idea for October 17th, 2016 – EUR/AUD

Trading opportunities for currency pair: the price has left the triangle formation downwards. The trend line was broken with this departure. The target for the downward movement is 1.3774. The time the target regions will be reached is from 11th to 28th November of this year. As our entry point we need to look from […]