EURUSD has topped for now

Blue or green? Only time will tell

It is apparent that the wave 4 correction is still incomplete. If it is the blue “Flat” correction in play, then the forthcoming few weeks will most probably go into a sideways correction. On the other hand if this whole pattern is a part of the monstrous green triangle structure, we will see a very deep pull back to the downside.

Either way, EURUSD has topped and looking bearish for now.

A play in the GBPUSD with TradePips custom indicator

GBPUSD with a different vantage point Reading a chart is not so easy. And even so difficult when higher timeframes show a completely different story.  That is why top-down analysis has considerable preference among traders. Monthly view with the TradePips custom indi It is obvious that the trend has been (and still is) bearish for few years …

Where is EURUSD heading?

After a while It’s been a while since my last post. It’s because I have been quietly developing a custom indicator to spot directional bias as well as subtle changes in momentum for both directions. Let me just say, the results are amazing in testing and you can have a peak at it in this …

Post election volatility and upcoming low liquidity – a deadly combination…

It has been a while since my last update on this blog. Due to obvious reasons, I have been quietly watching the markets from the sidelines. A month after trump trumped the whole world with a surprise, forex markets have not yet fully absorbed or adopted to new conditions of the global currency. Post election volatility This chart is pretty much …