TFx_Forex Update

Traders

Read this if you want to outperform 98% of other traders by 10x:

How to spot breakout.

If price break support, the support will become new resistance, waiting for the price to come back to the zone, then we sell.

Action Insight Daily Report 9-23-22
Dollar and Yen Staying Strong on Risk-Off Sentiment
Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against Euro and Sterling, which are among the worst performers together with New Zealand Dollar.
Technically, as long as some levels hold, there is prospect for Dollar to extend recent rally before weekly close. the levels include 0.9943 minor resistance in EUR/USD, 0.6698 minor resistance in AUD/USD, 0.9694 minor support in USD/CHF, and 1.3343 minor support in USD/CAD. But that would depend very much on how risk market flares.
In Asia at the time of writing, Hong Kong HSI is down -0.85%. China Shanghai SSE is down -1.08%. Singapore Strait Times is down -0.83%. Japan is on holiday. Overnight, DOW dropped -0.35%. S&P 500 dropped -0.84%. NASDAQ dropped -1.37%. 10-year yield rose 0.198 to 3.708.

What is a Perfect Engulfing Candlestick?

A bearish engulfing pattern produces the strongest signal when it appears at the end of an uptrend.

The pattern is created by interpreting the data of two completed candles:

The first candle will depict the end of the established trend strength.

Type of Perfect Bearish Engulfing

The second candle in the pattern is the reversal signal.

This candle is comprised of a long red candle creating fresh downward price momentum.

This bearish candle should open above the close of the previous candle and close well below the low of the previous candle.

This strong downward movement reflects sellers overtaking buying strength and often precedes a continued fall in price.

The further this secondary/ bearish candle declines, the stronger the signal becomes.

Hammer Candlestick Pattern

The hammer candlestick pattern is part of a duo that is probably one of the most taught and looked at candlestick patterns on the internet.

The reason behind this is that it’s a really easy pattern to spot and is equally as easy to trade.

The hammer pattern can be found at the bottom of a trend.

They usually give a signal when the downtrend has become exhausted – no more sellers in the market – and the buyers can come in and bring the price higher.

That is exactly what the hammer pattern portrays in the background (selling pressure dropping and buyers getting involved).

This can be seen because for a hammer pattern to form, the price must be taken much lower from open, creating a lower low but during the trading session, the buyers take advantage of the weakness and bring the price back up.

This is Bullish Engulfing

As you can see it is easy to identify, but the close of the latest candlestick must close higher than the previous open. Ideally, you want it to close higher than the high, to fully – consume – the previous candlestick.

The engulfing candlestick pattern can generate fantastic opportunities when timed right.

Quick Action Summary of The Bullish Engulfing Pattern:

Where is it usually found: At the end of a downtrend, but can appear at any point.

Number of candlesticks to complete pattern: 2

What type of signal is generated: Reversal

Strength of signal: Strong

Final Candlestick Color: Green (Or whatever you choose for bullish)

What it means in terms of buyers/sellers momentum: The current sellers have been non-existent and buyers have driven the price higher than the previous candlesticks high and open – thus more buyers in the market = higher prices.

UPs ARE MY WATCH LIST of currency pairs to be traded for this coming weeks

Is involved the following pairs
GBPJPY
XAUUSD
NZDJPY

the blackline will be your take profit areas
make sure the first leg touches the psychological level and the second leg touches the trendline and closes below the psychological level before you enter

the strategy is very easy and highly profitable
the only issue is people don't know where to put their TPs

Your TPs should be the closest support or resistance area
Thanks

Action Insight Daily Report 9-16-22
Dollar Supported by Risk Aversion, Gold Breaks Down
Overall, Dollar remains the strongest one for the week, followed by Swiss Franc and then Yen. Risk aversion support these currencies, on the expectation of another jumbo rate hike by Fed next week. Commodity currencies are the worst performers with Kiwi having an underhand. Euro and Sterling are mixed for now, with Euro having a slight advantage, but that could easily flip.
Technically, a big move came yesterday as Gold dived through key cluster support at around 1680 (which coincides with 38.% retracement of 1046.27 to 2074.84). A long term double top pattern should be formed with tops at 2074.84 and 2070.06. A weekly close below 1680 will affirm this bearish case. The stage would then be set for deeper fall to 61.8% retracement at 1439.18 in Q4. Downside momentum could intensify if US 10-year yield could break through 3.483 high decisively to resume medium term up trend.
In Asia, at the time of writing, Nikkei is down -1.07%. Hong Kong HSI is down -0.52%. China Shanghai SSE is down -1.38%. Singapore Strait Times is down -0.06%. Japan 10-year JGB yield is up 0.0028 at 0.260. Overnight, DOW dropped -0.56%. S&P 500 fell -1.13%. NASDAQ lost -1.43%. 10-year yield rose 0.047 to 3.459.

You've decided to try something to change your life. Continue trading and your money will grow easier everyday🚨

Action Insight Daily Report 9-12-22
Yen Softens Again in Quiet Market, US CPI and UK Data in Focus This Week
Markets are generally steady in Asian session today. European majors are firming up slightly but there is no clear follow through buying so far. On the other hand, Yen is losing ground while commodity currencies are also soft. Dollar is mixed in the middle. Focuses are back to economic data this week, with particular attention on inflation data from the US, as well as a wave of data from the UK.
Technically, Yen might be ready to resume recent down trend. Break of 144.71 resistance in EUR/JPY will confirm resumption of recent rally. That could lead other Yen crosses higher. Corresponding break of 144.98 temporary top in USD/JPY would confirm the overall underlying momentum.
In Asia, at the time of writing, Nikkei is up 1.02%. Japan 10-year JGB yield is down -0.0002 at 0.251. Singapore Strait Times is up 0.33%. China and Hong Kong are on holiday.