The market is not only buying EUR but also USD as opposed to JPY
The market is a little more uncertain as this is an expanding wedge.
Divergence on the TDI
High volume spike with lower volume tests and very low demand in between
So think we are in accumulation phase.
The EURUSD is in the cloud on the daily time frame
Expect a bounce to mid-line of channel
Also Chico could find some resistance crossing the historic price
Wait for pull back and then break of cloud to go long
Take profit at lower channel around 1.163
Will optimize entry during the week on 4h chart
We should know around Tuesday or Wednesday if the cloud will hold. Looking for a short on sign of reversal. Some increasing volume and TDI showing up shows caution that the Kumo may not hold. If it breaks wait for retest to go long.
Very simple trade set up here. A break above the trendline will initiate long position's. Aggressive traders could open a smaller position here if we fail to break into the kumo cloud
Looking to sell EURUSD in this area. We are seeing a rejection of the 50 EMA with the price being held below the kumo cloud and lying on the 38.2 fib retracement level of the most recent AB boundary. Wait for a price action confirmation before entering. I recommend taking a 50% trade size
I haven't posted anything on here in a long time so figured I'd post my current trade. This is a very simple setup I have been using for a while to trade on demo accounts and on 1broker. It is a combination of the Stochastic Oscillator as used in Mumbai Scalping set to 5,3,3 And an Ichimoku Cloud. My cloud has been altered to provide me with signals, I never...
Elliott wave's principle is that the market moves in waves. In a mouvement, there is 5 waves or impulses.
Here with AUDUSD, there is a clear double bottom reversal ending the bearish trend we were in for a few years. After the double bottom, we saw the first wave already completed and right now we are in the second wave, which is a corrective one. We should begin...
EURJPY price action below the kumo, impulsive moves followed by corrective moves, and ichimoku kinko hiyo wave theory suggest the bearish N wave will continue downward. Lets see if the B-C corrective leg continues higher before the next impulsive C-D leg finishes the N wave.
Off the back of the Federal reserves interest rate hike decision last year, this pair entered a long period of consolidation before finally breaking to the upside during the beginning of Feburary and proceeding to complete an Elliot wave cycle. A possible imminent Bearish run presented itself during the Friday trading hours as the price broke through the Kumo...
