SteveTobin

SteveTobin

I have been using this GBP basket made up of the NZD,AUD,USD,EUR and JPY to guide my trades with the GBP this year. It has been very successful, it does mean I have to take 5 trades every time which needs a bit of careful risk management. Stops are also difficult so I tend to trade without stops and look to make a decision at the end of day. The basket has now...

SteveTobin

I have been trading the GBP short for most of the year, the cable appears to have cracked the kneckline of this Head and Shoulder pattern

SteveTobin Updated 

NZDUSD bounced of previously identified resistance, the pitchfork pattern has been developing since August 2015, the bounce coincides with the top of an ichimoku cloud. The trade has not yet shown a buy signal on the point and figure chart which argues against a long position. Inline with the majority of the evidence I will enter long at the open of the market in...

SteveTobin Updated 

USDCAD produced a bearish engulf on the weekly chart hinting at a potential upward change in direction. The pair issued a buy signal on the 1 box P and F chart and appears to be close to making a break on the daily. I will enter long on a close above 1:3137 which will clear resistance on the daily chart. target will be 1:36. US oil appears to be beginning a...

SteveTobin

Was the recent recovery for the GBP a dead cat bounce? Recent IMF downgrades and the significant reduction in investment added to an increasing inflation rate make this a very difficult time for the UK. The new government has added a Brexit ministry and a international trade minister showing that they are committed to enforce the recent referendum result. A...

SteveTobin Updated 

The pattern on the AUDJPY is interesting, it appears to be forming a Harami pattern indicating some reversal maybe on the way, I can not decide if it indicating a bullish or bearish reversal, the post brexit candles are quite unusual. I would really like to hear any ideas

SteveTobin

GBPAUD completed a head and shoulders pattern at the close of market. The break is confirmed by a MACD break and downward RSI. I have entered short targeting 2.00 the bottom of the ascending channel that has defined the pair for several months. This pair is super volatile and has lacked liquidity of late so care is needed.

SteveTobin

I am a medium term swing trader and have been trading this pair quite a lot of late, my previous trades and results are onthe chart. This short is really based on the fundamentals of dairy prices v metals prices as well as food imports to china v materials import. It is backed up by a nice technical break of recent congestion

SteveTobin

The USDCAD broke through the August high of 1:3343 overnight and held its break through to the market close. Positive RSI and a MACD crossover coincided with the break. I have entered long using the medium term uptrend as a stop level. The trade hopes to take advantage of ongoing risk aversion and increasingly hawkish fed speak. NFP data later in the week will...

SteveTobin

The GBPCAD appears to be tracing out a a rather untidy Head and Shoulders pattern after a false break of a channel top that has defined the pair for more than a year. MACD appears to be agreeing with a short trade and the measured target gives a good risk reward criteria. I will wait for a break of the neckline before trading

SteveTobin

A long term chart pattern appears to be approaching termination, a break could be quite decisive. Upside potential is enormous and a stronger dollar seems quite likely. I will be watching closely for a technical que to enter. These long term patterns are often very profitable!

SteveTobin

It has been a slow month for my trading system, USDCAD long, and NZDJPY short continue to make good progress. GBPNZD hit target. This is the first new trade opportunity for several weeks. The pair my have put in a double top at previous resistance suggesting that the medium term down trend may be returning. MACD is in a downtrend and RSI is good. The weekly...

SteveTobin

entered at market open, long USDCAD. My previous short on a failed break of the medium trend line closed a few weeks ago for -200 pips. This long is taken with the view that the medium term uptrend is back in play, higher high and higher low suggest this to be the case. Fundamentals look quite good, general risk aversion caused by Greece and the chinese stock...

SteveTobin

The AUDNZD long hit target for +750 pips. If it holds above the trend line I will re enter long, the conditions for a new trade identified on the attached image have been met, the only reservation is the overbought reading on the daily RSI it suggests a pullback is ahead however it is not enough for me to hold from trading. The balance of evidence favors further gains

SteveTobin

I took this long EURCAD position on the break of a head and shoulders pattern, i closed it for a loss on friday. The Euro rebounded impressively back above the neckline after the opening gap down. It appears to have stopped at a trendline. I have considered an entry but decided to wait. The risk of a substantial move in either direction just seems to big

SteveTobin

The AUDNZD long from May 5th hit first target overnight and half the trade closed for +700 pips. The pair is now at a significant resistance line that acted as support way back in Nov 2013 and resistance in 2014. I will hold long but I am watching carefully, RSI is overbought which adds to the likely hood of a pullback. Should the resistance break I will...

SteveTobin

The cable appears to have completed a medium term bottoming pattern (H&S or rounded depending on your view). MACD has turned higher and RSI is not yet oversold, ROC is gaining upward momentum. The pair has also issued a buy signal on the 3 box Point and Figure chart with a measured target of 1441 pips and stop loss of 555 pips. I will enter long at market open...

SteveTobin

With my existing AUDNZD longs sitting at more than +700 pips the pair is approaching another longterm resistance line highlighted by the Point and figure chart. A close above the line would present a good opportunity to enter, I will open another half size trade if the pattern is completed. The original trade is attached.