Up by 300pips, another 600pips to go?
If you have been following us closely, we have been spot on on our analysis. Makes trading looks simple... haha.... it is hard work, discipline and focus !!
The pair I am talking about is CADJPY. It completed the Bearish Bat pattern right at the top and has fallen 300 pips since then. It has now broken below the uptrend support TL. This could potentially mean a further fall.
If this pair can go below 87.40 support, we could be looking all the way down to the 81.64/83 levels where the bigger Shark patterns completes for a buy signal. This could see another 600 pips move to the downside. I would be looking for bearish setups to continue the shorting this pair.
Similarly for GBPCHF, could we be seeing the start of a new downtrend ?
What do you think of the weakening USD? Will it ever stop falling?
USDJPY Bullish Bat completing around the 107.93/108.29. This will probably take time to stabalize before it can reverse. Let's watch the 108 levels closely next week.
For those of you who are based here in Singapore, you are invited to my sharing session. This is where I will show you how I used Harmonic Patterns together with the various TA analysis.
Highly recommended to those who are serious in trading, bring your friends along too. See you soon on that evening.