Currency Review

(This is a short excerpt from the past weekend premium member report published Friday the 28th)

GBP/JPY (spot)

A continuation rectangle was completed on Friday. I missed this trade. I did not get the order in.

Canadian Dollars (CME)

The decline on Thursday completed an arguable right-angled broadening triangle (RABT). I use the word “arguable” because I am not a big fan of multi-month patterns that occur as part of a much larger trading range. Yet, I took a position on this position with the possibility that a massive continuation H&S pattern is developing. Factor is long.

USD/SGD (spot)

It is possible that this pair completed a rare diamond pattern on the long-term chart. Factor is flat – I have orders in to buy a retest of the completed diamond.

New Zealand Dollars (CME)

The monthly graph is forming a continuation rounding pattern. Note that this pattern is basically an inverted Cup and Handle formation.

USD/SEK (spot)

With this past week’s red wide-bodied bar (WBB), I will monitor this possible H&S top pattern.

Mexican Pesos (CME)

Symmetrical triangles that travel past the 70% point (from the first contact point to the apex) should be viewed with great suspicion. It now appears that the upward thrust in Dec – Feb could be part of an “end-run” with a target of .04193.

Factor Membership

.

Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

Trading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book

Alerts: Detailed information on specific charts as unique opportunities present themselves

Market Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically

Webinars: Periodic member-only webinars where Peter speaks about current conditions and fields member questions

Knowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content

Automatic notifications: Email and social media notifications are sent out when new content is published

.

View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.

Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about.

I hope you will consider joining the Factor community.

###

SaveSave