Weekly Update

A walkthrough update of the two pairs we analyzed in detail on the weekend: the $cad and $chf. We found towards the end of this recording an idea and a possible trade that, as I'm writing this, is developing along our predicted lines and may, in an hour or so, produce some entry. If that is the case I will update this post when the results of that position.

Good Trading.

Weekly Analysis

This week I've gone into detail with the $/chf and the $/cad so we haven't moved through all the main pairs. Taking the time to explain some of these ideas or thoughts is often useful especially since most times I assume the fundamentals or mechanics are already understood, which isn't always the case. It's easy to assume things are more complicated than they actually are, or that we (or I) know more than we actually do. The simplicity of the situation and the ignorance we all possess as speculators has to be the first thing we consider before engaging with price action. It is a nice romantic ideal to view professional traders as geniuses or experts touched by god (or some such thing) but in reality we're all equally confused. One group is just better at managing the confusion. So the simplicity that is obvious (i think) in our thinking here in todays update on why we do what we do ought to demonstrate how unremarkable currency trading actually is.

Good Trading.

Analysis 23rd Nov

Hey, I've recently relocated up the coast and have yet to set up a proper office so I didn't have time to update our weekly analysis last weekend.

Aussie/$

Intersection of a daily low and trend line at 0.6475 is our key area this week.

Europe/$

1.1575 is my preferred area with 1.1540 possibly generated corrective waves. The lows at 1.1470, which wasn't mentioned is also important.

Pound/$

1.3107 is an immediate area price could accumulate and distribute orders. However 1.3175 at the daily high and 78.6 fib is my preferred area.

$/Swiss

0.8100 whole number and weekly low, daily high close to an upper descending trend line is our key area for this week.

$/Canada

Complex situation with uncertainty ruling over our perceptions here. Multiple areas are noted, we're not confident with any of them. Watching price move in real time is the only way to determine what levels are real and what they mean. I cannot be more specific than that at this time.

$/Yen

Looking for a higher low. Whereever price stops we will look for bullish waveunits within the structure available. If there is none, there is none.

Good Trading.