Well, this is nor a simple weekly update neither Monday anticipation indeed. I wanted to make the posts concise with previous.
As said before just the analysis will be made with no real trades until end of 2015. This allows to start the 'what if...' game and try to make the system clear and even more simple.
For this Friday's sum up only two MAs were left on the screen and PA levels were added as necessary with the rule that recent price level value the most. The results are below. Please note that this way trading allows to prepare and wait for great setups. Rush and randomness is always plays against the trader so should be avoided. Clear setups, RR minimum 3 or higher. A simple recipe for success.
For this Friday's sum up only two MAs were left on the screen and PA levels were added as necessary with the rule that recent price level value the most. The results are below. Please note that this way trading allows to prepare and wait for great setups. Rush and randomness is always plays against the trader so should be avoided. Clear setups, RR minimum 3 or higher. A simple recipe for success.
Good luck!
Remember what Jesse Livermore said regarding excessive trading: 'Money is made by sitting, not trading.'
EUR/USD
See how price behaves on MAs and last PA marked in red horizontal lines. Possible head and shoulders formation.
EUR/JPY
Too choppy.
USD/JPY
Price started uptrend. After pullback to 21 - 89 zone (see price level) uptrend should resume.
GBP/JPY
Price residues in uptrend chanel. The uptrend should resume but pullback can go lower than 21 - 89 zone.
GBP/USD
Price is in downtrend in D1. Current up move to 1.5250 level should be considered as pullback.
GBP/NZD
Price stays in uptrend and rejected ~2.34 level. After pullback trend should resume.
NZD/USD
Price rejected 0.65 level, now consolidating.
AUD/USD
Price rejected 0.7 level. Possible head and shoulders formation. Now can consolidate or up move can start.
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