A great week for TC signals.

Last week: It was a stellar week for TC with 9 trade opportunities presenting with Optimal-style TC signals. As noted last week, these are TC signals that trigger alongside a new trend line breakout and they generally offer a low-risk trade set-up having a high probability of successful follow-through with great Reward to Risk potential. This abundance was particularly welcome given the sparsity noted some weeks ago and is a reminder of how patience is needing with TC; as with all trading systems.

Trend line breakout & TC signal tallyit was another week of great trend line breakouts and new TC signals and these were noted on my site herehere, here and here:

  • GBP/NZD:  440 pips and an ‘Optimal’ TC signal.
  • NZD/USD:  130 pips and an ‘Optimal’ TC signal.
  • AUD/NZD: 95 pips and an ‘Optimal’ TC signal.
  • EUR/AUD: 200 pips and an ‘Optimal’ TC signal.
  • Gold:  140 pips and an ‘Optimal’ TC signal.
  • EUR/NZD: 290 pips.
  • USD/JPY: 70 pips.
  • AUD/USD: 90 pips.
  • AUD/JPY: 65 pips.
  • EUR/JPY: 70 pips and an ‘Optimal’ TC signal.
  • USD/JPY: 50 pips and an ‘Optimal’ TC signal.
  • GBP/AUD: 260 pips.
  • GBP/JPY: 130 pips and an ‘Optimal’ TC signal (on Friday).
  • GBP/NZD: 200 pips and an ‘Optimal’ TC signal (on Friday).

Next week:

  • FX Indices: The US$ index could only manage to print an indecision-style Doji despite the US rate hike. An update on both FX indices can be found through this link.
  • US Tax Reform: news outlets are reporting that US Tax Reform is looking more likely so watch for impact from this news.
  • Triangles: a number of FX pairs remain consolidating in weekly triangle patterns: AUD/JPY, AUD/USD, GBP/USD, NZD/USD and USD/JPY.
  • US Stocks: I wrote an article about some some technical patterns worth stalking and this can be found through the following link.
  • Brexit: remains in the news so watch for impact on GBP pairs.
  • XJO: ASX-200: the Aussie top 200 index has managed to close the week above the key 6,000 level but is still range-bound for the time being. Watch the 4hr chart Flag for any momentum based trend line breakout though:

  • NASDAQ-100: this index offered a great TC signal trade on Friday  for over 4 R:

  • NB: updates are brief over our summer holiday period (Dec-Jan).

Calendar: there is one Central Bank update next week with the BoJ and there is GDP data from NZD and the US.

Forex:

EUR/USD: The EUR/USD printed a small bearish coloured ‘Spinning Top’ weekly candle and remains consolidating in a 4hr triangle near the key 1.18 level.  Watch the 4hr chart triangle for any new momentum-based trend line breakout. There is no high impact EUR data but watch for impact from US data and US Tax Reform and Brexit news.

EURJPY: This pair continues to consolidate under the weekly chart’s 61.8% fib (135 level) but printed a bearish weekly candle. Watch the 4hr chart triangle pattern for any new momentum-based trend line breakout.

AUD/USD: The Aussie printed a bullish, essentially engulfing, weekly candle to close the week just below the key 0.77 level. Watch the 4hr chart Flag (looks a bit Bull Flag like) for any new momentum-based trend line breakout.

AUD/JPY: The AUD/JPY printed a bullish engulfing weekly candle but remains in a weekly triangle and closed exactly half way between the 87 and 85 S/R levels. Watch the 4hr chart triangle for any new momentum-based trend line breakout.

NZD/USD: The Kiwi printed a bullish, almost engulfing, weekly candle to close the week just below the key 0.70 level. Watch the 4hr chart triangle, and monthly 200 EMA, for any new momentum-based trend line breakout. Watch with this week’s NZD GDP data as well as all the US data.

GBP/USD: The Cable printed a small bearish coloured, almost Spinning Top’, weekly candle and remains consolidating near the 3-year bear trend line.  Watch the 4hr chart wedge pattern for any new momentum-based trend line breakout.

USD/JPY: The USD/JPY printed a bearish coloured, almost Inside, weekly candle and remains in a 4hr chart triangle set within a weekly triangle. Watch the 4hr chart triangle for any new momentum-based trend line breakout.

GBP/JPY: This pair gave a great trend line breakout trade on Friday and a new TC signal for over 3 R; printing a decent sized bearish candle in the process. Note how price stalled at the 4hr chart’s 61.8% fib though!  Watch the 4hr chart’s revised triangle and 150 level for any new momentum-based trend line breakout.

GBP/AUD: Printed a bearish, almost engulfing, weekly candle to close back below 1.75 S/R. Watch the 4hr chart triangle for any new momentum-based trend line breakout.

GBP/NZD: This pair gave a great trend line breakout trade on Friday and a new TC signal for over 7 R; also printing a decent sized bearish candle in the process! Watch the 4hr chart’s descending wedge and 1.90 level for any new momentum-based trend line breakout.

EUR/AUD: The EUR/AUD printed a large bearish, almost engulfing, weekly candle and remains consolidating near the 1.55 S/R level. Watch the 4hr chart triangle and 1.55 level for any new momentum-based trend line breakout.

EUR/NZD: The EUR/NZD printed a large bearish weekly candle and remains consolidating near the 1.675 S/R level.  Watch the 4hr chart’s descending wedge pattern and 1.675 for any new momentum-based trend line breakout.

Gold: Gold printed a small bullish, essentially Inside, candle and remains trading within a 4hr chart triangle. Watch this 4hr chart triangle for any new momentum-based trend line breakout.

Oil: Oil continues to consolidate in a 4 hr chart Flag pattern under the weekly 200 EMA. Watch the 4hr chart Flag for any new momentum-based trend line breakout.