Prabhu.Ram

Prabhu.Ram

Hello traders! The smaller ABCD within the bigger ABCD that we had noticed yesterday has achieved it target at 1.2520 today in the early european trade. We may see some consolidation at this level. But the context for the larger ABCD with the target at 1.2595 and the wedge target that we have been discussing for quite some time now are all in context. Our move...

Prabhu.Ram

Hello traders, today has been a great day, targets on AUD/JPY, GBP/JPY and now the EUR/CAD has been achieved. If you recall, we had predicted a move up to the 161.8 Fib extension of the harmonic ABCD pattern. It has happened with the early European trade today. That gives us a cool 290 pips to be content with. This is an important target and we should see some...

Prabhu.Ram

Hello traders, this is an update to yesterday's analysis where we had moved the S/L to 1.2410. Though the market threatened that level, it did not hit it and today it has shown a significant intent to break above the recent confluence resistance at around 1.2480. I expect the market to challenge the high at around 1.2590. there are three moments at this level. It...

Prabhu.Ram

Hello traders, I am again happy to announce that the short trade we had embarked upon when the pair had broken out of the wedge pattern to the bottom has achieved its wedge target and as well as the target of the harmonic ABCD pattern which we had used as a confidence builder for our short position to reach its logical end. in the current session after the pair...

Prabhu.Ram

Hello traders, I am happy to announce that the short trade I had proposed when the price was at 99.70 has completed and it is currently at the 61.8 Fib Support. 30 pips away is the Lower border of the smaller trend line. I expect some pull back from this level before we can arrive at any further entry. But I do not advice on a long entry based on the smaller...

Prabhu.Ram

Hello traders! In the morning we had noticed the support around 1.2433 and had recommended a placing of stop loss below 1.2410. The market has managed to hold on above that so far. The weekly support is exactly at 1.2400 and that is an important support area for our long trade. It is normal for the market to attempt consolidation around such important areas. Now,...

Prabhu.Ram

Hello traders, Over the last week, the pair has shown some intent to stay on top of the wedge and thats a good sign for the upward continuation. I believe that it is time to move our stop higher and save our profits. After testing the previous consolidation at around 1.2360, the pair has formed another support area for us. It is around 1.2432. I suggest that we...

Prabhu.Ram

Hello traders, With our EUR/USD and EUR/CAD ideas underway and going without any threat, I am not looking at another promising opportunity with the GBP/USD. There is a common feeling that probably the USD has topped out and all pairs are looking at a retracement across the board. To support our position here, its again a wedge pattern. Quite similar to the...

Prabhu.Ram

Hello traders! The initial target has been hit and hit convincingly! Now the eyes are set at the next target at 1.4571. Cheers! Happy trading and happy pippin!

Prabhu.Ram

Hello traders, This is an update to the short trade we had taken up on this pair from the breakout of the break on the lower side. We had fixed on the target for the wedge pattern at 182.90. After yesterday's price action which saw the pair retest the upper borders, it has formed a reliable ABCD pattern as shown in the chart. Most interestingly for us, the 100%...

Prabhu.Ram

Hello traders! We have been following the short trade on this pair for quite some time now and it has worked perfectly. We had a short entry below the upper border of the trend channel at 99.70 and its close to 200 pips now. If you have not entered short yet, now is a good chance because after consolidating below the smaller trend channel, it has shown a close...

Prabhu.Ram

Hello traders, After showing some signs of hanging in within the wedge yesterday, the pair has exploded today. It has achieved our initial target of 1.4340 and set for new highs. The nest two targets are 1.4416 and 1.4571. If you dont hold a position already, The current level is a good entry. BUY @ 1.4340 with S/L @ 1.4264 T/P first @ 1.4416 and second target...

Prabhu.Ram

Hello traders! Now that we have been following the pair closely all week, its time to review our position as we near the close of the week. With developments yesterday and the price returning into the wedge, it is important that we have our levels clear. The context for the long position is still intact to begin with. It is common for the markets to nudge around...

Prabhu.Ram

Hello traders! This is an update to the BUY call I had given yesterday on the pair. We see that the pair missed our target by a mere 15 pips during today's earlier session. The conflict however is the upper border of the wedge pattern. If the pair has already tested the upper border, It may be a good idea to exit the trade at this point. It has pocketed over 100...

Prabhu.Ram

Hello traders! This is the next update on the pair we had discussed yesterday. The short trade is doing well and the development now is, the price action has broken into the smaller trend channel and also broken the .38 fib support in the process. From the entry we had proposed, it has picked up over 220 pips so far and the next logical support area is the 50%...

Prabhu.Ram

Hello traders! The break out from the wedge has happened and EUR is continuing to show some good strength across the board. There are two upside targets for the pair. First is the wedge pattern target which is at 1.2855 and then it is the 50% fib retracement target which is at 1.2974. 50% retracement is the most common and often tested retracement for the...

Prabhu.Ram

Hello traders, After looking at the recent price action and the new found strength in the EUR, I believe it is time to look for further action with EUR pairs. Currently, I see a bullish ABCD pattern in play and the target for this is just above a trend line I have shown above. Now, whether this pattern goes on to form a classic wedge or not is something to be...

Prabhu.Ram

Hello traders, I am back to update the situation with the AUD/JPY. With JPY showing strength across the board yesterday, it did bring AUD down comfortably and it tested the upper border of the smaller trend channel within the larger channel. Interestingly, it is also the 38 support from the previous bull move. I expect the pair to continue moving down after some...