thetradeWELL

thetradeWELL Updated 

From my previous post regarding potential Bearish Shark forming on the EURNZD (see Related Publications ->) a shooting star pattern might be forming right around the 1.97500 level. I usually don't trade candlestick patterns, but will look for a handful of certain ones around areas of fib confluence, S/R, S/D, and divergence. The Kiwi is weak relative to all other...

thetradeWELL Updated 

Looking at a potential Bearish Shark forming on the EURNZD. I'm seeing divergence, but anticipate a bullish move up towards 1.975. I've placed a couple short limits at 1.975 and 1.98, but will short the market if I see a signal on the lower timeframes.

thetradeWELL Updated 

A Bearish Bat is forming on the EUR/JPY custom timeframe chart (18hr). I'm expecting price to push through 172.00 and possibly through 173.00 before reversing. I've put in a few limit orders. If price sharply reverses I'm just going to short the market.

thetradeWELL

Looks like EURUSD is forming a Bullish Butterfly pattern as the Dollar strengthens across most pairs. I'm looking for the pair to continue decline into support around 1.0575-1.0675, consolidate and possibly dead cat bounce before proceeding towards the 1.05 range. I'm also looking for the 14-period RSI to enter oversold territory during this time, which I project...

thetradeWELL Updated 

Pretty precarious short trade on the Swiss/Yen. The years long uptrend has been exhausted for ages, but with the Yen's across the board weakness, price has steadily climbed. I entered a short on the 28th and added a lot on the 29th. Technically, I did get a signal from my indicators, but they haven't did very well against any Yen pairing as of late. We'll see how...

thetradeWELL

A couple days back I wrote that the NZD/USD was up against the roof of a descending channel. I anticipated a breakout and entered long @0.60995. Short, medium, and long term indicators support a strengthening Kiwi against the USD.

thetradeWELL Updated 

Price on NZD/USD has stalled at the top of a descending channel on the Weekly chart. If the current trend continues with strengthening Kiwi and retreating Dollar, we should see a bullish breakout forming over the next couple weeks. Price has broken above 0.60, but it still remains to be seen whether we'll see a strong close above that level.

thetradeWELL Updated 

I am currently long AUDCAD with +480 pips across two lots. Price has reached an untested supply zone and is also up against a 78.6 fib extension and 50.0 fib retracement level. I am going to go ahead and scale down my positions, take profit and move my stops to trail from break even. Short, medium, and long term indicators support both a strengthening Aussie and...

thetradeWELL

Long off what appears to be a potential triangle breakout to the upside. Not my typical trade setup, but price is currently holding steady above the monthly pivot.

thetradeWELL

Short opportunity developing, with an entry below @91.124. I've already entered this trade earlier, based off other factors. I am now looking to add to this trade if price closes below the above mentioned entry point.

thetradeWELL

The tradeWELL FX algo printed a countertrend entry-with-trigger on long NZDCAD on 08/01 with entry between 0.80885 and 0.81135. Initial target at 0.82750 with stop at 0.79020 trailing. The pair completed an orthodox head-and-shoulders pattern. Market sentiment is neutral, slightly favoring the bulls.

thetradeWELL

The tradeWELL FX algo printed an entry-with-trigger on long GBPCAD on 08/01 with entry between 1.56667 and 1.56917. Initial target at 1.59838 with stop at 1.53496 trailing. I actually entered late and into the 1.575 resistance. Recent price action forming what appears to be a cup-and-handle with fairly distinct rounded bottom. Counter-trend trade, so precarious.

thetradeWELL

Entered a short position on AUDNZD after eyeballing test, retest, and rejection of price around the 1.11750 area. Price is currently trading below the weekly pivot, however it has been ranging into this asymmetrical triangle pattern. The system I traditionally follow did not print an EWT (Entry-with-trigger), but I am getting some divergence along with CCI...

thetradeWELL

System printed an entry with a trigger today on AUDCAD @ 0.89793 with initial target of approximately 220 pips @ 0.91786. Stop is placed @ 0.87300, trailing. I actually entered this trade early and am up 70 pips. Today's candle close above the trigger line will indicate an entry based solely on the rules of the system. Supply/resistance area above around...

thetradeWELL

Entered a long position on EURUSD @ 1.02499. EURO has obviously been up against strong headwinds, getting battered all the way down to parity with USD recently, so this one is a counter-trend trade. Technically, my system has printed an EwoT (entry without a trigger) and a close above 1.02936 would be the technically valid trigger. Area of resistance around...

thetradeWELL

Monitoring a potential Lobster XABCD pattern developing on the EURCHF. In heavily oversold territory, but sentiment still favors bears over bulls. Will need to see a definitive break above the downward trendline.

thetradeWELL

Monitoring a bullish cypher setup on EURAUD. Anticipating a deeper move on the C-D leg into area of demand, prior to potential move to the upside.

thetradeWELL

LONG ENTRY on GBPUSD with the following stats: Entry @1.37959 Target 1 @1.38951 Target 2 @1.40564 Trailing Stop @1.35260 Will pull in stop to trail from break even if/when Target 1 is hit.