Analysis on chart. I'll update it once I see a clear short signal in the weekly chart. Daily remains turbulent and unclear, it's possible to see a small rally, so shorting is a bit dangerous unless using wide stops and going long is even worse. I'll analyze price action and look into selling short once we see confirmation here. Crude oil seems to have resumed the downside, I'd be skeptical of a rally from here, but it's possible. As an addendum, TSLA might head down with crude oil, as gas gets cheaper and electric cars lose appeal (it has happened before). I'm looking to go long at a key level, as seen in my related idea below.
Monitoring EURUSD, might rally to the area in red in this chart:
I'll short it if reaches that level with a stop at 1.145.
I can't give you the exact entry now, but keep close watch of this zone. My suspicion is it'll start to fall either tomorrow or on Friday with the news.
IvanLabrie
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Monitoring this:
Price retested the weekly mode.
I think we might see some more upside before the news come out on Thursday and Friday, mostly Friday.
There's a small uptrend signal that expires on Friday too, and the level I highlighted as 'stop loss here' looks like it will hold if the advance continues, giving us an opportunity for a great and very tight entry.
IvanLabrie
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Interesting dovish language today has driven the pound down. The price to watch is 1.54154. If it's reached today, or during this week, then it's highly likely to see a 16 week downtrend start.
Target and entry/stop is as follows:
I'll leave the pendings on with 0.25% risk each.
Stops at 1.56275 for both, entry #1 at 1.54154, entry #2 if filled: 1.55215.
The safest bet is to wait for the fundamental events and trade them intraday, but trying these weekly setups with low risk is also good.
IvanLabrie
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(keep in mind the second entry must go active right after the first is triggered. So, don't short 1.55215 unless you got filled at 1.54154 first!)
jakeshake
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Great point regarding the electric cars. :)
AndrewHook
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Thank you sharing your view. I agree totally. Have a nice weekend too.
Deleted
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a fail
IvanLabrie
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Just shorted GBPUSD, stop at 1.56512, entry: 1.5595.
No tp.
IvanLabrie
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Entered a 0.5% risk GBPUSD short, stop at 1.5619.
Entry: 1.56217. No tp, will aim for the time at mode weekly downtrend target.