Trading week: 31 October to 4 November 2022

Written by Ashley DeSousa

November 2, 2022

Hi everyone.

Whats on my radar for the week……?

The top bull and bear pairs currently using the strength indicator on the 4 hour chart are……..

Some pairs are a bit messy and my direction indicator mixed between the daily and 4 hour time frames……..so they are a no go for me. 

Pairs that stands out for me at the moment are…….

 

 

 

The bull pairs: 

………………………………………………

1) NZD/JPY on the 4 hour:

The direction indicator is LONG on the 4 hour and and on the DAILY CHART and we closed PLUS 60 pips higher than last week’s opening – so we DID meet ALL of the requirements to fib the 4-hour chart for this week’s Earth and Sky trading zone.

Currently I have a long zone between 85.31 and 84.71

Areas to keep an eye on for support : 85.31 and 85.01 and 84.71

Target: WR1 at 86.53 and WR2 at 87.38

Counter shorts from the WR1 at 86.53 and WR2 at 87.38

Target: WPV at 85.34

Notes:

If price makes a higher high without the correction we wanted….follow price with the fib to get the adjusted long zone for the week.

If we break the 75% fib for some reason to the downside then re look at last weeks low and some EMA`s between 84.27 and 84.00 for support to long from as the main trend is still long.

………………………………………………

2) GBP/JPY on the 4 hour:

The direction indicator is LONG on the 4 hour and and on the DAILY CHART and we closed PLUS 311 pips higher than last week’s opening – so we DID meet ALL of the requirements to fib the 4-hour chart for this week’s Earth and Sky trading zone.

Currently I have a long zone between 168.76 and 167.11

Areas to keep an eye on for support : 168.76 and 167.94 and 167.11

Target: WR1 at 173.27 and WR2 at 175.27

Counter shorts from the WR1 at 173.27 and WR2 at 175.27

Target: WPV at 169.36

Notes:

If price makes a higher high without the correction we wanted….follow price with the fib to get the adjusted long zone for the week.

If we break the 75% fib for some reason to the downside then re look at last weeks low and some EMA`s between 165.56 and 164.73 for support to long from as the main trend is still long.

………………………………………………

3) Euro/JPY on the 4 hour:

The direction indicator is LONG on the 4 hour and LONG on the DAILY CHART and we closed PLUS 133 pips higher than last week’s opening – so we DID meet ALL of the requirements to fib the 4-hour chart for this week’s Earth and Sky trading zone.

Currently I have a long zone between 145.74 and 144.73

Areas to keep an eye on for support : 145.74 and 145.23 and 144.75

Target: WR1 at 148.55 and WR2 at 150.14

Counter shorts from the WR1 at 148.55 and WR2 at 150.14

Target: WPV at 146.14

Notes:

If price makes a higher high without the correction we wanted….follow price with the fib to get the adjusted long zone for the week.

If we break the 75% fib for some reason to the downside then re look at last weeks low and some EMA`s between 143.97 and 143.72 for support to long from as the main trend is still long.

………………………………………………

4) GBP/Aussie on the 4 hour:

The direction indicator is LONG on the 4 hour and LONG on the DAILY CHART and we closed PLUS 302 pips higher than last week’s opening – so we DID meet ALL of the requirements to fib the 4-hour chart for this week’s Earth and Sky trading zone.

Currently I have a long zone between 1.7937 and 1.7843

Areas to keep an eye on for support : 1.7937 and 1.7890 and 1.7843

Target: WR1 at 1.8237 and WR2 at 1.8371

Counter shorts from the WR1 at 1.8237 and WR2 at 1.8371

Target: WPV at 1.7993

Notes:

If price makes a higher high without the correction we wanted….follow price with the fib to get the adjusted long zone for the week.

If we break the 75% fib for some reason to the downside then re look at last weeks low at 1.7748 and some EMA`s between 1.7650 and 1.7590 for support to long from as the main trend is still long.

…………………………………………………………

 

 

 

The bear pairs to keep an eye on will be…….

……………………………………………………………

1) Aussie/NZD on the 4 hour:

The direction indicator is SHORT on the 4 hour and short on the DAILY CHART and we closed MIN 55 pips lower than last week’s opening – so we did meet ALL of the requirements to fib the 4-hour chart for this week’s Earth and Sky trading zone.

Currently I have a short zone between 1.1083 and 1.1129

Levels to keep an eye on: 1.1083 and 1.1106 and 1.1129

Target: WS1 at 1.0969  and WS2 at 1.0906

Counter longs from the WS1 at 1.0969  and WS2 at 1.0906

Target: WPV at 1.1072

Notes:

If price makes a lower low without the correction we wanted….follow price with the fib to get the adjusted short zone for the week.

If we break the 75% fib for some reason to the upside then re look at last weeks high and some EMA`S  at 1.1175 for shorts to set up from as the main trend is still short.

Regards

Pierre

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