See chart notes. I am looking for an up move on this pair off of support. I believe that the FXCM dollar index will buy to roughly 12200. However, I am beginning to look for wave retracements within that larger bull move. Today the aussie could provide opportunities to retest support and eventually provide buying action throughout next week higher into the .382 level on the daily chart, defined as target on the 2 hour chart. So we will see if this runs. Thanks and have a great weekend!
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WAIT FOR THE TRENDLINE BREAK ON THIS TIMEFRAME! YOU DO NOT HAVE A TRENDLINE BREAK YET!
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I have not added into the position and pulling this into break even for the weekend. I am looking for further drops on it today and then possibly the Sunday night entry. So see you on Sunday!
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Picked up on the long after the price action formed bull engulfing. Running from 7514. Likely will have to reenter after the Sunday trading but we will see how this goes.
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Scalpers out there are welcome to pull a little profit off from last night's trade. We are looking at USD hitting resistance which should send this up today so I am leaving the stop at .87 Anyway we are in and still looking for .7639. looking for this to run this week. You likely will have the opportunity to reenter this tomorrow. Take care and have a great week!
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Reminding all that we have break even stops on the two positions with profit taken in light of the selling. FOMC minutes today.
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Maintaining this into the target higher. Thanks and I hope you are all having a great day.
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Pulling to break even on the positions. Leaving them
Trade closed: target reached
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Voila!! Off this trade for now. Great finish to a great month!
Trade closed: target reached
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I love it when the target hits. great way to take them out. My favorite!
@CBMotivation, thanks for chiming in. Charts have so many indicators though that I can barely read them.. It is, as I have previously typed in, an upside down crown. What it is doing is buying into the .382 on the daily chart which is at .7630. Very basic price action which will wave around with the dollar. all you really need is the crown. everything else is indicator-itis. However I do thank you for blogging in and it's nice to make your acquaintance.