riffster21

riffster21

Hi guys, this is a daily chart view of the market barometer. I'll try and post one of these each week. We don't always get a lot of useful info from the daily barometer, but today we do. The JPY is extending up. Remember, this is a 'daily' time frame (think slow motion). The JPY has a LOT of room to run to the upside before it would be considered over extended....

riffster21

Hi guys, the NZD is headed neared over-bought. Not sure why, but it is. Kind of a random move for this currency, so I figured I would post an update. What does this mean? Nothing long term. The NZD has a ton of room to run long term (bottom chart), but the NZD will bounce soon on the short term. Wait for the pull back, then enter if you are buy the NZD. This is...

riffster21

Hi guys, the short term barometer (top chart) has an 'unnatural' pattern. I've see this before. After a quick push like this, the market usually snaps back in the other direct. These pushes are usually quick with very little consolidation. Just like now. On the long term (lower chart): the EUR and AUD are over extended in opposite directions. The EUR is...

riffster21

Hi guys, the GBPJPY is pushing on down trending resistance. This could be a nice place to go long if price break above a hold. If we see a rejection, we can short for a smaller trade. I always wait for candle confirmation before entering a break-out. This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.

riffster21

Hi, for this layout, the short is my standard short term (15 min) and the bottom is my standard long term (4 hours). The GBP is over extended on the short term and ready for a small consolidation/correction. The EUR is over extended on the long term and is finally ready for a long term corrective move. The EUR may give us one more push before the turn, but it will...

riffster21

Hi guys, I am posting from one of my layouts (and I've never done that before), so I'm sure what or how many of the charts will get posted? If you see what I see, we have my standard short term (15 min) above my standard long term (4 hour). You can see how the short term shows the details of the last long term USD push up. We should see USD weakness moving...

riffster21

Hi guys, as I mentioned in my GBPAUD post, most of the GBP pairs are forming wedges. I will trade the GBPJPY exactly the same as the GBPAUD: This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.

riffster21

Hi guys, most of the GBP pairs are forming sideways wedges. Sideways wedges are harder to predict vs descending/ascending wedges. However, we can still use the outside of the wedge as a signal to buy or sell. I wait for a confirmation candle formation to occur before I enter (i.e a pullback with an engulfing supporting candle or a supporting flag). In addition,...

riffster21

Hi guys, this is a long term (4 hour) Market Barometer Update. The JPY is over extended. If it pushes higher, it will quickly bounce. The JPY may strengthen a bit more, but should weaken for a few trading sessions after the next push. The other currencies are grouped between the 60-40 area. We should see some pretty large moves form during the next few trading...

riffster21 Updated 

Hi guys, as I mentioned yesterday, we would some strong 'directional' moves. Those moves are finished and the Market Barometer is consolidated (again). We should get more 'strong directional' moves. Probably in the opposite direction this time. Why opposite direction? Because the Market Barometer over extended and we usually get a reversal after a huge over...

riffster21 Updated 

Hi guys, ugg, I tried to catch it, but it bounced too fast. The USD just touched the trend line, then bounced pretty hard. This USD sell off might be finished (at least short term). This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.

riffster21

Hi guys, this could decide where the EURUSD will go today. If we stay above this level, we should continue to grind higher. If this level fail, jump in short. This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.

riffster21 Updated 

Hi guys, this is more of a lesson for those of you who use the Market Barometer. Here is a screen of what the chart looked like before I turned all of the other currencies off: This is a 4 hour view. Notice the 2 different trend lines. The AUD broke below the first, but has not punched through the second (long term trend line). Before opening a trade, wait for...

riffster21

Hi guys, This is a long term update (4 hour). Most of the currencies are inside the 60-40 range (blue box) or headed towards it. This is a sign of consolidation and is always followed by large moves or swings. Expect some nice moves during the next couple of trading sessions. One or more of the currencies will being to push outside the 60-40 range. This will...

riffster21

Hi guys, aren't these JPY pairs fun (**uneasy cough). Seems like just yesterday that we were waiting for the USDJPY to break below the box range in January. Then everyone flipped bullish after the quick retreat from 112ish area. I guessing that now everyone will flip bearish now that we are below up trending support. We'll see. I am waiting for a push up near...

riffster21

Hi guys, the GBPUSD has a nice bullish engulfing 4 hour candle. I am still waiting for resistance to fail before I enter, but everything is screaming bullish at the moment. If we weren't so close to resistance I would probably jump in. This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.

riffster21

Hi guys, the EURUSD broke above February's down trending resistance. The resistance level held for a couple weeks. Now we are forming a short term consolidation before the next leg... up? or down? I will wait for a pull back, then enter long with a target near 1.6800 and a stop just inside support. This is not investment advice, just my opinion(s). Please trade...

riffster21

Hi guys, after a nice sell off, the JPY is beginning a consolidation. We should see some gains from the JPY over the next couple of trading sessions. Many expect another push up from the USDJPY. Based on this indicator, I'll say short for the USDJPY for the next couple of trading sessions. We'll see who it right :D This is not investment advice, just my...