Heads up!!
Cypher possibly completing around at 2.1054
TP1 around 2.0826
TP2 around 2.0685
SL around 2.1252
If it drags on (and remains valid) and completes after 1st of the year I'll look at shorting if everything jives.
There's a potential cypher looking to complete around132.34.
if it turns on a dime initial targets are:
TP1 around 132.170
TP2 around 132.065
Stops above X around 132.49
This is ONE POSSIBLE way this structure can develop. Please be aware that corrective patterns can be very complex and the next wave in a correction can be forecast by tracking the development on lower degree.
This is not for trading but for information ONLY.
I will followup with possible trade setup on lower time frame .
If you have a different idea please share...
Multiple bottom at 1.9350. But at break of candle plus spread.
Long entry at 1.9505
Stop at 1.9350
Target 1.9700 or desired
For more ideas, join us at fxchronicles.com
instagram.com/fxchronicles
GBPAUD: 1.8000. Gbp/Aud made it up to 1.8242 last week, but remained well below the 100 DMA at 1.8320 and the SHS neckline at 1.8380 before reversing sharply to keep the SHS formation intact, where the long term target is at around 1.7300. Below the strong rising trend support right here at 1.8000, the interim targets now appear to be at 1.7931 (23 April low) and...
The Dollar Index (DXY), having made a false break to the to topside at the end of last week, has reversed aggressively and is now back below the 200 WMA (79.73) and appears set to test the recent low at 79.26. There is decent support there and again at 79.00-10. However a break of this would head quickly to 78.85 and then to the double bottom at 78.60, below which...
