Trend line breakout (TL b/o) trades have been the safest of the longer time-frame trades over recent weeks and there have been literally hundreds of pips on offer helped by just the NZ$ alone. A few other TL b/o trades kicked in yesterday and even a few TC signals have triggered although I’m cautious with the latter.
GBP/NZD daily: this TL b/o trade, flagged and noted in earlier posts here, has gone on to deliver over 900 pips. I posted on Sept 27th that this TL b/o trade, whilst not giving a 4hr chart TC signal, did give a daily chart based TC signal. I still think the S/R region of 2.30 will eventually be targeted but watch out for NZD Business Confidence data in two hours:
NZD/USD 4hr: this TL b/o trade has given 70 pips BUT watch out for NZD Business Confidence data in two hours:
A/U 4hr: this TL b/o trade has given 40 pips BUT watch out for AUD Trade Balance & RBA Interest Rate news later today. There is obvious resistance ahead:
A/J 4hr: this TL b/o trade has given 60 pips BUT watch out for AUD Trade Balance & RBA Interest Rate news later today:
GBP/AUD daily: like with the GBP/NZD daily, this pair looks like it will trigger a daily TL b/o trade. Watch for impact from the RBA today though. I’m wary here as this could also be a Bull Flag setting up and any dovish RBA commentary today could help trigger the Flag pattern scenario:
EUR/NZD 4hr: this TL b/o trade has given 120 pips and a new TC signal from my 8pm candle yesterday BUT watch out for NZD Business Confidence data in two hours and any impact from EUR ECOFIN and the ECB Draghi speech later on Tuesday:
E/N weekly: I did tweet about this pair yesterday though saying some mean reversion sure looks due. This chart makes me wonder if the NZ$ might help deliver yet many more pips? It is over 800 pips down to just the 50% fib of this recent swing high move!
U/J 4hr: this has triggered a new TC signal off my 4 am candle BUT I will wait for any channel breakout first. Once bitten twice shy!
EUR/AUD 4hr: this also has triggered a new TC signal off my 4 am candle BUT, here too, I will wait for any channel breakout first:
Other FX:
E/U 4hr: doing little. Watch for impact from Tuesday’s ECOFIN meetings and the ECB Draghi speech:
E/J 4hr: ditto:
GBP/USD 4hr: ditto here too:
GBP/JPY 4hr: ditto here:
Stocks: have rallied overnight and what a great 30 min chart trade this would have been for those in the US session:
Oil 4hr: still channel bound on the 4hr chart:
Gold weekly: no wedge breakout here yet:
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