The lasdt set up sadly didnt, went in our favor, but hey part of the game,
The ranking is still trending to look at AUD Long. Price action gave us a zone to look for and about 3h agone the trade was triggered.
Lets see what the price has in store for us.
JPY is making a pullback today, giving us favorable entry and reentry point with high ranking oposites. EURJPY is a prime example of the difference in strenght ranking. With a 3,9% strenght difference, shallow correction with a good pattern to signal our entry all cheecks are ticked and we are long
So we entered a short position in the NASDAQ. The price came to our are reacted as we wanted, and we pulled the trigger.
Now the fact that the market approached our are with this type of strength it is possible to see some price action against us before the market continues the down trend if it does.
Sort of the Price Action we have been seeing with the DAX.
Made a decision to short the DAX again. Tecnicaly market made a weak structure low so the trend continues. The fundamentals are really not good. But we need to be opened to the idea that the market will continue up posibally to the level 3 structure around 78% fib retracement.
Lets see what happens.
Started to monitor the asset due to new strucutre low expecting a pullback which will give a possible entry signal to sell. While we sit tight to see what will this asset give us in the longer term we can go down the TF to look for possible scalp trades.
The shorter timeframe gave us the indication that the bulls are not just finished jet. It drove price to a favourable area on the higher tf, But thats not enough we need to see some good decision pattern to confirm the trade, till then we see what the market has to say