The indecision in the market that I mentioned on Friday is clearly evident in the weekly candle chart which closed with a long legged doji midway between the 9 week and 40 week moving average.  The high of the week failed to match the previous week’s high suggesting that we are now entering a week [...]

As it’s a new week, I’ve taken the weekly chart in order to provide a different perspective on our trading for this week. As I mentioned last week, my long term trade was stopped out, so I am now looking to re-enter the market at some point, and as a general rule, I use the [...]

The breakout to the upside that we saw two weeks ago, continued last week with strong momentum in the volume, and a wide spread up candle on the week, which provided significant trading opportunities on an intra day basis. As I mentioned some time ago, I entered the market with a long position some weeks [...]

Last weeks wide spread up candle, suggests that the uptrend is likely to continue this week, following the breakout from the sideways price action of the last few weeks, with prices now above both the 9 week and 14 week moving average. There is little resistance directly ahead on the weekly chart, so there is [...]

Last week’s candle was interesting, not because it has given us a clear signal, but more because it has provided the first sign ( a small difference I know, but important nevertheless). Firstly the closing price on the week closed above both the 9 day and 14 day moving averages. Secondly the price fall was [...]

Last week’s candle for the dollar yen, has at last provided some respite from the remorseless sideways movement of the last few weeks with a sharp move up on Thursday, leaving us with a wide spread up bar on the week. The closing price on Friday penetrated the 9 week moving average, but not the [...]

Last week’s candle was an up bar, but unfortunately one that tells us little about the future direction for the yen dollar pair, other than we can probably expect more sideways movement this week as it hovers between 88.00 and 91.00. As I mentioned in one of my reports last week, we do have the [...]