Lonny Strike / Blog
6:00 AM Get up and have breakfast. Check emails to make sure that the overnight cron jobs (automated tasks) ran successfully the night before. These are for downloading financial data and uploading our own internal reports. More on that later. 7:00 AM Head in to Mayfair on the Tube...
Prices are testing support at 1272.98, the 76.4% Fibonacci expansion. A break below this barrier on a daily closing basis exposes a falling channel floor at 1267.98, followed by the 100% level at 1257.63. Alternatively, a reversal above the 61.8% Fib at 1282.47 targets the 50% expansion at 1290...
The USDJPY pair as you can see broke much higher during the course of the week as we clear the 103 level finally. This was an area that had been significant resistance over the last year, and as a result we feel that the market is in fact starting to break out...
“The miserable trading conditions in USDJPY are probably explained by its long term Elliott wave position. That is, the rate has been mired in a corrective 4th wave all year. The good news is that wave 4 probably ends soon. Keep focused on the Elliott channel...
All eyes are on the Fed. When will it begin to raise interest rates? Some say next summer. Others think sooner, in the first quarter of next year. A few Fed governors insist that will be too late, that the Fed needs to act before year-end...
Key points made in the video: 1. It took Gary about 6 years of diligent study before he became consistently profitable 2. Understanding the Wyckoff method -- interpreting supply and demand in the market based on price action and volume -- via a mentor was the key for him 3...
USD/JPY Technical Strategy: Flat Support: 103.53, 103.05, 102.75 Resistance: 104.00-12, 104.30, 104.54 The US Dollar is hovering near the highest levels in five months against the Japanese Yen after rallying the most since mid-March earlier in the week. A daily close above the 104...
Richard 'Dick' Diamond has been trading the markets for over 35 years having started out on the floor of the American Stock Exchange working for his father's brokerage firm. JP (Justin Pugsley from mahifx.com): Can you tell me about your background and what got you into trading...
What does the turn in price look like? In the following chart, a supply zone for a short entry was highlighted with the yellow box, and the blue arrow indicates where a good short trade could have been entered. This is the expected “turn in price...
AUDUSD has been in a steady downtrend as the latest test of the falling trend channel resistance is showing downside FX momentum. This marks the third impulse wave lower, which might last until the bottom of the channel at the .9150 minor psychological level...