04/09/15 Market’s Overview before closing.

Market’s Overview.

EURJPY : price has started an UPward corrective move on H4 Time Frame and it will possibly close above Tenkan Sen at 133.80 price level or even go above Kijun Sen at 134.25 before reversing and continuing its Fall. I wouldn’t advise you to trade the correction, but if you want to do so, go to M15 TF , BUY after a strong Bullish Price /Tenkan Sen Cross with Tenkan Sen going UP, STAY IN while M15 Candlesticks close above Tenkan Sen and EXIT when a bearish M15 Candlestick closes below Tenkan Sen. If you consider Entering Short -in case you missed yesterday’s move- do that on Monday after you make sure that Upward Correction is over.

AUDUSD : an UPward Correction has started in an extremely Bearish Environment. I suggest you wait for the price to make an upward statistical validation move towards Median Bollinger Band at 0.7000 price level or even approaching Kijun Sen on H4 Time-Frame at 0.7029 before looking to SELL as it will most possibly reverse and continue falling (unless it changes direction) That will happen on Monday.

USDCAD : although price has made a bearish cross below Tenkan Sen, it’s still balancing on Tenkan Sen level on DAILY TF. But if it makes a strong Bearish KUMO Breakout on H4 TF, falling down to 1.3176, the Take-Profit Target can be reasonably placed at 1.2857 where price will find Support on the Upper Border of the KUMO on DAILY TF. So we have to WAIT to see the Bearish KUMO Breakout on H4 TF and that will most possibly happen on Monday.

GOLD : get ready to position yourself Long, (BUY) on Monday going for 300+ pips as GOLDen “baby” will shoot for the Upper Bollinger Band price-level on DAILY TF.

Have a great Weekend !

Sofia

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