Forex Setups

[Potter]

if you are into harmonics we have a bat here on the Geppy. See how it reversed in the PRZ (potential reversal zone). I might be a seller tho if it gets to the top of that channel as it is 2/3s up at the mo (not the best trade in the world, but its all I'm looking at until the US session overlap)

geppy bat.jpg

[Potter]

Trade update for above: Hit the T1 @ 1.4977, but I didnt enter as it was too much risk for me

[phillip]

Trade update for above: Hit the T1 @ 1.4977, but I didnt enter as it was too much risk for me

Good discipline to sit on your hands when the risk wasn't on your side. What indicator is that you use? Is it your own? The image is a bit hard to see the detail.

[phillip]

Cheers Mr Bernake!

Finally something to play from a technical perspective on the NZDUSD chart from yesterday.

We have broke the wedge to the upside and are retesting the trendline. Daily and Monthly support in the same area. Also the Daily pivot is higher than yesterday.

Its almost too perfect!

Well it was too perfect. AUD and NZD are officially too sick to even react to a nice technical setup. There wasn't even a hint of a higher low on the 15 minute chart and it just fell straight through. The wait continues.

The evidence is building though for the recovery rally IMO in these 2. AUDUSD has made a distinct weekly doji, classic sign of an exhausted move. The wait continues.. zzzzz

Ps this market is boring

audusd-sbweekly.pngaudusd-sbdaily.png

[Turtle Forex]

They will want to puff AUD a little bit before RBA on Aug 6...

It's anyone guess as to whether or not a the impending 25bp cash rate cut is already priced in or not. But we know what "makes sense" is not always the way the market reacts either.

[phillip]

Well it was too perfect. AUD and NZD are officially too sick to even react to a nice technical setup. There wasn't even a hint of a higher low on the 15 minute chart and it just fell straight through. The wait continues.

The evidence is building though for the recovery rally IMO in these 2. AUDUSD has made a distinct weekly doji, classic sign of an exhausted move. The wait continues.. zzzzz

Ps this market is boring

[ATTACH=CONFIG]133[/ATTACH][ATTACH=CONFIG]134[/ATTACH]

That Doji played nice! Near 200 pip rally off it. Epic move in this market.

audusd-sbweekly.png

[phillip]

This market still can't muster anything significant. Starting to wish I looked at Ranges more, as its been easy pickings.

The AUSUSD is slowly but surely trying to turn its ass around. 2 steps forward 5 steps back though, grr.

Potential Inverse Head and Shoulders to add to the Doji of 2 weeks ago. The wait continues for a break higher...

audusd-sbweekly.pngaudusd-sbh4.png

[phillip]

EURJPY is at an interesting cross roads. Long term trend line under threat.

This is the 4th attempt to break it (or bounce of it), so too late to play the bounces for anything more than a scalp IMO.

Another pair to watch for a break out.. the list grows!

eurjpy-sbdaily.png