BIG PICTURE:
SXY weakening in price. JPY holding above 50 EMA on HTF.
INTRADAY FUNDAMENTALS:
Heavy divergence on LTF. Trading below 40 EMA on all intraday Time Frames. Testing monthly VWAP, below weekly and session VWAP. EMA bearish cross. Below stationary 50 on RSI on LTF
TECHNICAL ANALYSIS:
Week close w newfound resistance @117. The next key market level would be 118 to short into. Allocate 4% tier 1 risk @117. SL above 618% retracement level in confluence with 50 EMA. Rally zone without reaching 118. Both go short at 116.
HTF/ TA:
118 is the true key level on higher time frames. 114 is key support. Trading below weekly VWAP. Yearly VWAP could be short bottom out range near 114. If price gains bearish momentum target could be around 120. Heavy divergence on the double top across all time frames. This indicates a potential shift to bearish momentum
RISK MANAGEMENT:
.25% tier 1 risk @117. If trade pulls back to 61.8% retracement, add tier 2. SL 117.6.
If both trades fail then add tier 1 4% at 118
SXY weakening in price. JPY holding above 50 EMA on HTF.
INTRADAY FUNDAMENTALS:
Heavy divergence on LTF. Trading below 40 EMA on all intraday Time Frames. Testing monthly VWAP, below weekly and session VWAP. EMA bearish cross. Below stationary 50 on RSI on LTF
TECHNICAL ANALYSIS:
Week close w newfound resistance @117. The next key market level would be 118 to short into. Allocate 4% tier 1 risk @117. SL above 618% retracement level in confluence with 50 EMA. Rally zone without reaching 118. Both go short at 116.
HTF/ TA:
118 is the true key level on higher time frames. 114 is key support. Trading below weekly VWAP. Yearly VWAP could be short bottom out range near 114. If price gains bearish momentum target could be around 120. Heavy divergence on the double top across all time frames. This indicates a potential shift to bearish momentum
RISK MANAGEMENT:
.25% tier 1 risk @117. If trade pulls back to 61.8% retracement, add tier 2. SL 117.6.
If both trades fail then add tier 1 4% at 118