Uncharted-FX

Uncharted-FX

Silver was a trade executed on the daily chart. I will cover the set up in just a sec. I want to point your attention to this 4 hour chart. Price broke out of resistance, and then pulled back to retest it as support. Buyers stepped in heavily when futures opened. Why is this zone important? The Daily chart broke out of a trendline/wedges, and broke above our...

Uncharted-FX

Money running into Bitcoin. Is it institutional money frontrunning the digital currency which means government can tax and track all money? Or is this a move out of fiat money? My followers know my opinion, this move is what I have been predicting since last year. The currency war is in full affect, as central banks attempt to weaken their currencies for inflation...

Uncharted-FX

We have continued to sell off on Friday, and things were looking like price was going to confirm a lower high on the daily chart. Remember, in order to confirm a lower high swing in a new downtrend, we NEED a lower low close. Take a look at the Dow chart. We have been watching this support at 27500 for weeks now. So far we have held it. BUT take a look at the...

Uncharted-FX

So the big news has been the GBP and how Brexit could be seeing a re-write, with Prime Minister Boris Johnson sending in a bill to parliament. The Pound has weakened considerably. Making multiple swing waves in its trend. First up, the GBPUSD is at a major support zone on the daily chart. Not just a support zone, but a FLIP zone (an area that has been both...

Uncharted-FX

USDNOK has been one of my favourite Dollar pairs I have kept tabs on ever since the DXY was showing signs of a reversal. This market structure analysis can be used for ANY MARKET since ALL MARKETS move the same three ways. USDNOK was in a long downtrend with multiple lower highs and lower lows. Price then began to base/range/consolidate. This was a sign that the...

Uncharted-FX

If you have been a follower of my work, I have been saying that stock markets will only be moving higher as it is the only place to chase yield in this world. We are setting up for a parabolic move higher. The past two trading days, saw big drops on the US equity markets...amusingly, the perma bears are back, and the financial media quickly shifts their stance...

Uncharted-FX

USDSEK on the 4 hour has been in a major downtrend with multiple lower highs and lower lows. We hit a major support zone on the daily chart at 8.6000. From here the downtrend is beginning to exhaust with no new lower lows. From here, it seems we are setting up for a double bottom pattern. A quintessential reversal pattern. I am awaiting for a break above the...

Uncharted-FX

In previous posts, I have given my case on GBP pairs. GBPCAD, GBPAUD, and GBPNZD to be more exact. They have all been good trades so far on the 4 hour charts, BUT on the daily chart, we are still setting up for multiple higher lows! With GBPAUD on the daily chart, you can see we have been in a downtrend with lower highs and lower lows until we hit a big...

Uncharted-FX

Most of my followers know my take on Gold and Bitcoin when it comes to the macro environment we are in. We are deep into the confidence crisis. A confidence crisis in governments, central banks and fiat currencies. I have said you NEED to be in Gold and Silver, and I think holding cryptos is prudent too. In terms of the confidence crisis: Governments are broke....

Uncharted-FX

A few weeks back, I spoke about the GBP pairs being on watch for a reversal. They have been on an extended downtrend, and we are now awaiting for an imminent reversal. This is just market structure and the way all markets move. Let us start with GBPAUD. We hit a major support zone at 1.78, and there was an opportunity for us with the fake out trade. A nice wick...

Uncharted-FX

NZDCAD is setting up to be an Uncharted trade. First of all, we have had a nice uptrend with clear higher lows and higher highs. We then hit a major resistance/flip zone at 0.8950. We are seeing some rejection so far, but I am awaiting a proper pattern. It seems like we can make a head and shoulders like pattern here, once again it is a trend exhaustion and...

Uncharted-FX

The equity markets are showing quite the divergence as the charts of the US major indices are beginning to look different for us technical traders. The Nasdaq has been doing its own thing. Many analysts saying the move in tech has been a bubble. The debate is whether it is fund managers chasing “growth” stocks, or is it really the new retail Robinhood crowd...

Uncharted-FX

The big debate is whether you are Team Gold or Team Bitcoin. A lot of the Bitcoin and Crypto enthusiasts believe Bitcoin is a safe haven and is the digital gold. There are times it has acted alongside Gold as a safe haven, but more times than naught, Bitcoin does NOT follow Gold and act as a safe haven. Regardless, I think we can all agree that is not fiat which...

Uncharted-FX

Very nice market structure patterns with the GBP pairs this week. Market structure tells us that all assets move in certain waves, and these waves repeat in cycles. Certain currencies have their time for a trend and the GBP seems to be primed for its trend. GBPUSD had a nice downtrend with multiple lower highs. We hit support at 1.23, and from there created a...

Uncharted-FX

Last week was all about fear vs greed. Which side would win. By the end of the week, we can see that the fear side has gotten the edge. What do I mean by fear vs greed? Well first off, those are the two primary emotions which effect markets. Those that are technical look at price action as the accumulation of these emotions. That is what is really being displayed...

Uncharted-FX

GBPAUD is indicating a shift in trend and market structure. We have had an extended downtrend with multiple lower highs and lower lows. As we all know price does not move up or down forever. Trends have cycles, and perhaps the trend here is exhausting. This means we would be looking for a long trade and the beginning of an uptrend. So first of all, we have hit a...

Uncharted-FX

My readers and my followers know about the first chart I look at every morning to predict stock market movements. The bond markets. Specifically, the 10 year yield (TNX). Remember, bond price and yields are negatively correlated: when bond prices move up, the yields drop lower and vice versa. A lot the the money managing community rely on the asset allocation...

Uncharted-FX

The US Dollar is looking quite interesting currently. It has been smacked down the past few weeks, and as we market structure traders know, nothing moves down or up forever. Nor does price move in a straight line. All markets move in three ways only: an uptrend, range and a downtrend. And the US Dollar is showing some basing here. Here is the daily chart of...