Some of my forecasts
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Chf/jpy
I was calling for a reversal around 86.18 on this pair. We got it to 88.80, but that was nothing. I'm talking about a reversal on steroids.
Now you are going to think I've flipped. The good news was I'm wrong concerning the turning point.
Let me first introduce the readers to another point about my methodology, and even share some background. Many times I refer to OB/OS conditions, extreme conditions, and much more. First, let me make a point concerning common sense. If this pair is at an extreme reading and OB on the weekly at 86.18, would it not make sense it is even more so at 83.80. When extremes are hit, it makes for some explosive happiness. How many times have I said that, and then you turn around a few days later and find that is exactly what happened. Just like the USD/INR, this is exactly what is about to happen with this pair.
The part of this forecast that I missed it was I thought the thin weekly cloud would not be penetrated, but it did and the bottom got hit today.
Look for a reaction at 85.61 and 89.39. They should be taken out in favor of 92.13. That becomes a decision point. As of now, it is favored it gets ripped out, and then the move to 98.32.
BTW, I shared the background not to apologize for being wrong. I make a lot of forecasts, so I'm going to be wrong occasionally. This is to show the interpretation of the forecasts. If a market has hit extreme conditions, and then I am wrong, the expectancy for some explosive happiness has just grown, not diminished.
I was calling for a reversal around 86.18 on this pair. We got it to 88.80, but that was nothing. I'm talking about a reversal on steroids.
Now you are going to think I've flipped. The good news was I'm wrong concerning the turning point.
Let me first introduce the readers to another point about my methodology, and even share some background. Many times I refer to OB/OS conditions, extreme conditions, and much more. First, let me make a point concerning common sense. If this pair is at an extreme reading and OB on the weekly at 86.18, would it not make sense it is even more so at 83.80. When extremes are hit, it makes for some explosive happiness. How many times have I said that, and then you turn around a few days later and find that is exactly what happened. Just like the USD/INR, this is exactly what is about to happen with this pair.
The part of this forecast that I missed it was I thought the thin weekly cloud would not be penetrated, but it did and the bottom got hit today.
Look for a reaction at 85.61 and 89.39. They should be taken out in favor of 92.13. That becomes a decision point. As of now, it is favored it gets ripped out, and then the move to 98.32.
BTW, I shared the background not to apologize for being wrong. I make a lot of forecasts, so I'm going to be wrong occasionally. This is to show the interpretation of the forecasts. If a market has hit extreme conditions, and then I am wrong, the expectancy for some explosive happiness has just grown, not diminished.
Uhh, you said WHAT?
The other day I was talking to some kids from the school about trading. We were talking about different methods of trading and approaches to the markets. The subject of trading naked came up (Price action only with no indicators.). At that point a friend passed by, and overheard the conversation. We continue talking, and the subject matter changed. I was talking about how I was late to an appointment, and was telling them at least I was wearing my watch, so it served as an alert (I don't like wearing watches.). My friend passed by again.
When the meeting adjourned, my friend, who knows me real well, pulled me aside. He looked very concerned.
He starts with, "Paul, since when do you trade with no clothes on?"
I'm dumbfounded, so I respond with, "What?"
He says, "Maybe you were joking, but you were talking about trading and the only thing you were wearing was your watch." LOL.
I'm glad for real friends that will confront you with a situation rather than getting on the loud speaker with some major announcement.
Oh, I did have a chance to explain what trading naked is and where the watch came in.
The other day I was talking to some kids from the school about trading. We were talking about different methods of trading and approaches to the markets. The subject of trading naked came up (Price action only with no indicators.). At that point a friend passed by, and overheard the conversation. We continue talking, and the subject matter changed. I was talking about how I was late to an appointment, and was telling them at least I was wearing my watch, so it served as an alert (I don't like wearing watches.). My friend passed by again.
When the meeting adjourned, my friend, who knows me real well, pulled me aside. He looked very concerned.
He starts with, "Paul, since when do you trade with no clothes on?"
I'm dumbfounded, so I respond with, "What?"
He says, "Maybe you were joking, but you were talking about trading and the only thing you were wearing was your watch." LOL.
I'm glad for real friends that will confront you with a situation rather than getting on the loud speaker with some major announcement.
Oh, I did have a chance to explain what trading naked is and where the watch came in.
Eur/gbp
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As per my Weekly Forecast, I mentioned that this pair should find its way back into the daily cloud, and that is exactly what it has done today. Expect the climb to continue to the top at .8861. That will probably be another reversal zone for this pair.
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As per my Weekly Forecast, I mentioned that this pair should find its way back into the daily cloud, and that is exactly what it has done today. Expect the climb to continue to the top at .8861. That will probably be another reversal zone for this pair.
Usd/cad
This pair has finally hit the express north. As per my Weekly Forecast, I mentioned .9707 as being containment. It never needed it. It took off burning scratch and never looked back.
What we see happening now is a huge cloud break on the weekly, and entering SD channel extremes and ear popping territory on the 4-hour. It all adds up to the fact it is time to correct. The 4-hour tenken at 1.0137, the kijun at 1.0068 are both viable targets for the correction. Don't be surprised to see the daily TK combo holding at 1.0041.
The bottom of the monthly cloud at 1.1040 is now on the longer term radar.
This pair has finally hit the express north. As per my Weekly Forecast, I mentioned .9707 as being containment. It never needed it. It took off burning scratch and never looked back.
What we see happening now is a huge cloud break on the weekly, and entering SD channel extremes and ear popping territory on the 4-hour. It all adds up to the fact it is time to correct. The 4-hour tenken at 1.0137, the kijun at 1.0068 are both viable targets for the correction. Don't be surprised to see the daily TK combo holding at 1.0041.
The bottom of the monthly cloud at 1.1040 is now on the longer term radar.
Usd/sgd
As per request:
This pair is getting ready to drop a little further than it did after Thursday's peak. Still, it would pay to be careful on this one. This is because the bulls have taken over on the monthly.
I would expect the correction to take this pair back to the daily tenken at 1.2703 and the kijun at 1.2569. It will be the latter to definitely start looking for containment and a return to the UP.
Longer term, 1.3524 is on the radar, and then the pair will see just how close to the bottom of the monthly cloud currently at 1.4692 it can get.
As per request:
This pair is getting ready to drop a little further than it did after Thursday's peak. Still, it would pay to be careful on this one. This is because the bulls have taken over on the monthly.
I would expect the correction to take this pair back to the daily tenken at 1.2703 and the kijun at 1.2569. It will be the latter to definitely start looking for containment and a return to the UP.
Longer term, 1.3524 is on the radar, and then the pair will see just how close to the bottom of the monthly cloud currently at 1.4692 it can get.
Thanks for your concern !!!
I had hold on to the next day after Mr. Paul has advised me, but eventually got out at about 3:15 as not comfortable in long.( I was thinking overall trend is down, a big event coming up and Mr. Paul is telling to got out then I must be out at this time)
Thanks once again Mr. Paul, E1 and this forum. (Not for profit(Literally ??
:lol , but for evolving thought process and the overall learning outcome, I have got)
I had hold on to the next day after Mr. Paul has advised me, but eventually got out at about 3:15 as not comfortable in long.( I was thinking overall trend is down, a big event coming up and Mr. Paul is telling to got out then I must be out at this time)
Thanks once again Mr. Paul, E1 and this forum. (Not for profit(Literally ??
:lol , but for evolving thought process and the overall learning outcome, I have got)- Status
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