GBPUSD Bullish Interpretations for Timing Longs

ByJamie Saettele

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.

About Jamie Saettele

Jamie specializes in swing trade setups. His 2008 book, Sentiment in the Forex Market, details trading and analysis techniques that he continues to use. More importantly, his trading education is a result of years of real trade experience.

Jamie played water polo at Bucknell University, garnering all-conference honors in the pool and academic All-America status in the classroom. Serving as Technical Strategist for DailyFX since 2006 and co-founder of SB Trade Desk, he’s conducted technical analysis and trading seminars across the U.S., in London and Barcelona. His forecasts for FX Week have resulted in #1 rankings for 1, 3, and 12-month forecasts, besting the largest banks in the world. He’s been featured in industry magazines including FX Week, Stocks and Commodities and SFO. Jamie received his Chartered Market Technician’s Designation from the Market Technician’s Association in 2009. Jamie started cooperating with Scandinavian Capital Markets for Scandex, a platform made by traders for traders to share knowledge, expertise and market insights. 

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Market Update: October 22

Market Update: October 22

ByJamie Saettele

Bonds have been the big mover leading up to the U.S. election. TLT is under the 200 day average for the first time since December 2018. The next critical level to pay attention to is 153-154. This is the bottom of a short term channel, the June low, and the long term upper parallel from the channel that originates at the 2007 low (magenta line). The upper parallel nailed tops in 2012, 2015, and 2016 and the low in June. A long term chart is below. Expect the level to act as support BUT a break below would indicate a major behavior change in TLT (and bonds generally).

CADJPY DAILY

Market Update 10/14 – 6 Year High in CADJPY

ByJamie Saettele

CADJPY traded to a 6 year high today (highest since December 2015). High 91.00s has been a precise pivot since June 2013 and RSI is in rare territory. The chart below shows instances since late 2014 when RSI has been as high as it is today (above 80). Each instances has been within days of an important price peak. I’m not willing to fade this until I see reversal evidence…but be ready!

USDCAD 4 HOUR

Market Update 11/9 – Time to Fade CAD?

ByJamie Saettele

Since USDCAD is USDCAD, it had to test Friday’s high before reversing lower. In any case, there is no change to the view that a 5th wave lower is underway. I don’t have all of the measurements on the chart because I like to keep it clean but realize that wave 3 is exactly 161.8% of wave 1. If today was the 4th wave high, then wave 5 would equal wave 1 at 1.2184. This is in line with the 5/13 high at 1.2203. Bottom line, I’m looking towards 1.2200ish. There is a high volume level at 1.2459 that is proposed resistance now. Finally, an 8 hour volume reversal triggered today (see futures chart below, which extends back one year).

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