Weekly Forecast (FX)

EUR/USD

First time I posted a picture with this much of indicators...
my aim is to present a triple crossing, and a reversal candlestick pattern on Daily Chart for EUR/USD.

Weekly Chart: Bearish
Daily Chart: Bottom up Reversal, next resistance 1.4370, strong resistance 1.4470.

Short Term: I am bullish on EUR/USD, I entered Long last Friday, but were killed with a stop loss of 20 pips, when market make a long slim leg at bottom.

This bullish momentum shall last until 1.4370, or max 1.4470.
I seek for Short at both of these levels, ultimate stop 1.4500.

However, for short term, I will trade Long.
Monday: Long 1.4230, SL 1.4200, TG 1.4370, if position hold on well, then will add another position to long and will move target to 1.4420-70.

GBP/USD

I covered the short position at 1.6130 last Friday, it has been a long while since I get more than 300 pips in 1 single position, I tried to short twice, during breakout, but were killed twice too.

Holding on to the 1st short at 1.6450, for a position over 2 weeks result in 320pips profit is rare for the past few months of trading.

I tried changing time frame, learning to apply power wave, and trade only with wave target price, it is not an easy transformation.

I learn something new, and I am applying it to my trading -> print the chart out.
It makes a little difference, this little difference is profound. I will now constantly, easily, without the need of coming to my blog to check my trades... I am reminding myself of my long term view on the market, with the printed chart.

You can try this at home. :)

GBP/USD has more downward pressure, but with Friday's indecisive candle, I suspect a little bit of pull up to 1.6320.

Monday is a good day to trade for Long for quick profit enter during mid day and close position at night, I will pay little attention to Tuesday 4:30pm - public sector net borrowing, Wednesday 4:30pm MPC Meeting Minutes, and midnight after 12:30am due to US FOMC meeting.  I prefer to watch and observe for the opportunity to Short if market already trading above 1.6300 region.

Support 1.6050, breaking below 1.6050, next support 1.5850 (target in 2 weeks).

all timing are in MY/SG time (GMT+8)