Thread: Which pairs are you selling and why?

Could you inform us why you're selling these pairs?

Trade safe and prosper.

KP

Originally Posted by ;

USD/MXN and USD/ZAR, for carry trades. Might hop back into EUR/NZD, not certain.

I am not bearish with this pair atm. I shall wait for price action to reach the 160.370/164.240 place before looking for a southward turnaround and a market trading opportunity. That region is into the low of October 2016 in confluence with the 50 Fib retracement zone of the swing from the high of September 2015.

I might be incorrect. Trade safe and prosper.

KP

Originally Posted by ;

when gonna this pair will fall? There are many bearish sign on 4H chart but all are fictitious demoned. Whats your thought about Gbp/jpy? I m on brief

Originally Posted by ;

Could you tell us why you are selling these pairs? Trade secure and prosper. KP quote

Both appear to be in long-term downtrends (weekly chart). To be more specific, this NAFTA thing was killing USD/CAD and USD/MXN. I may be incorrect about ZAR, not certain. USD continues to be criticised for a while. NZD is strong, CHF is weak; I have long positions in NZD/CHF and AUD/CHF, additionally for carry trading.

Originally Posted by ;

quote Both appear to maintain long-term downtrends (weekly chart). This NAFTA item has been murdering USD/CAD and USD/MXN, to be particular. I may be wrong about ZAR, not certain. ....

Noted.

Originally Posted by ;

quote ...I have long positions in NZD/CHF and AUD/CHF, too for carry trading.

Please stay on topic; this thread is about shorts; not longs. Read post #1.

KP

Originally Posted by ;

Please stay on topic; this thread is all about shorts; not longs. Read post #1. KP

Give it a break, it was a footnote.

Understood stay on subject.

KP

Originally Posted by ;

quote Give it a break, it was a footnote.

I've just finished my pre-week analysis of pairs in my watch list. Based on my analysis, I'll search for the opportunity this week to market EURGBP, EURJPY and USDJPY. Although I had a specialized bias on the market side for USDJPY a week, price action retraced northward and the markets were generally ambivalent (sideways) so that I stayed on the side lines. I am looking to sell the pair following the current northward retracement, which to me is a correction. I will give details later.

I might be wrong. Trade safe and prosper.

KP

Before I provide details on my technical prejudice towards the market on USDJPY, here is an update on NZDJPY. I specify a sell limit order on the NZDJPY last week only near the 50 Fib retracement zone of a recent swing back on the weekly time period and in an area which is in confluence with a horizontal resistance zone (79.673/81.286). It is also an area round the resistance line of a descending channel in which price action has been operating for a little while. What happens to price action around the zone within the next few days will decide whether I leave the order available. Based on my swing trading egy, the moment the order is triggered, the resistance line around 81.286 will probably be place for my funding protection (aka stop loss order).

Trade thrive and safe.

KP

Originally Posted by ;

The Yen seems to be strengthening against its major peers. I'm still bearish on USDJPY and NZDJPY Trade prosper and safe. KP quote

Here is why I'll try to sell USDJPY this week.

Over the weekly time frame, in February 2018, price action broke down a horizontal channel (magenta) where it had operated for quite a long while. On the H4 time frame, price action is functioning in an ascending triangle. The latest price action printed two bearish candlesticks but the order flow is under the control of bulls. In the circumstance of a weekly time frame with a bearish technical outlook and the longer descending trend on the H4 time frame (see trendline in red colour), price action is mostly on a corrective movement to retest a busted support zone round the 108.260 region and possibly reverse the zone as resistance.

I seem to market the USDJPY upon a northward retracement of price action to a area of value; a probable area being 108.260 or 109.270.

I might be wrong. Trade secure and prosper.

KP

I will look for the chance to sell the EURJPY this week following a northward retracement of price action.

On the H4 time frame, price action is operating in an ascending wedge (blue). Giving the context of the major tendency (looking left), there is likely to be a bearish turnaround following the corrective phase. The few sessions Friday published three bearish candlesticks; however, the order flow context is largely under the bulls. Besides, a micro support trendline (chocolate) remains in play. Nevertheless, there are a few hurdles for bulls to climb: wedge resistance trendline, flat resistance (minor resistance around 133.180; major resistance around 134.250) and resistance trendline (magenta). On the other hand, should the micro support trendline (chocolate) be broken down by bears, they might need to contend with the minor horizontal support (dark orange) round the 131.795 area before going to the wedge support trendline. A breakdown of the support trendline on a four-hourly basis, using a zone and retest reverse, is likely to give the impetus to get a bearish continuation.

I will look for a southward turnaround following bulls have been frued in their efforts to scale the northward hurdles I identified. But so long as price action remains operating from the ascending wedge over the H4 time frame (blue), I will step aside. I prefer taking a sell trade in the 61.8 Fib area (round the 134.250 area) or a significant break of the wedge support on at least a four-hourly closing basis.

I may be incorrect. Trade safe and prosper.

KP