Yes there is a risk for a juicy down move still once the Britons file the papers for the Brexit. that would be fantastic! Nevertheless, see the monthly chart which shows a multi year low and attractive price to buy and to sit on.
with a wide stop this is a good buy and a crappy sell and these deals do not come around that often.
Once the Pound regains its footing ...
I hope you do, if not your mind cant read simple charts.
The white line is KEY and it is the monthly opening price line.
Grey Line is price
The Red/Green is the Vstop created and offered for free by TV Admin (thanks bud)
Dont know how to trade this simple strat when you get spammed with techs, bats and various patterns and predictions? dont worry just pm me and i ...
For you pattern traders out there..will this current downward move be rejected or...
the thick white line on the chart is the monthly open tracking along. that is what i played but I spotted this one so i share
Big time frame Head-and-Shoulders
I like what I see here, Pay close attention now and see if this downward move really becomes rejected. If not it will invalidate this pattern.
Nevertheless, price is a good deal already with a wide stop. the only risk is a new low but even that is manageable to trade on the monthly.
I would not mind the pattern to become ...
I am going yo keep on buying the dips on this one.
It is just a matter of price and if you get a good deal or not.
If you can buy the Kiwi then why be scared of buying the Euro.
Every time it takes a dive I see an opportunity right now.
I will only change my mind when Madame Yellen is more aggressive,, not just being Hawkish when talking, but also doing what ...
When markets are uncertain and major pairs and ordinary crosses are hard to trade due to whatever cloud that hangs over them - it is time to look elsewhere for trades for a while.
This is one example. NOKJPY has spiked down to make a multi-year-low, but the structure you see on the chart is fighting back. If you trade based upon trend lines you see that there ...
Price always returns to its median as they say and this is a very good example of it.
If you would have called out this short here on TV back in May 15 (which I did) you would have been laughed at and mocked ) it seems I got the last laugh )
Nevertheless, every good trader makes sure he/she has a perspective on things.
Now, this is a very tricky position and to ...
Look closely at this chart
Every tactic is easy to explain in hindsight I know.
But with so many people out there trying to trade with all kinds of methods and indicators I want to show this for you.
Add a monthly open line. CM has made one here which you find under indicators which works fine. I also added his indicator that plots the yearly highs and lows. This ...
More Brexit/Bremain noise to come and this constant bs about safe haven placements and risk on and risk off nonsense (its all about borrowing the yen cheap when you can and no one opens their books and goes...hmmm I think I wont take any risks today or hell yeah lets take some more risks and have some fun)
hopefully and very likely we will see a new yearly low ...
M pattern ranging close to a breakout and close making to a double bottom as well.. for you tech traders out there..
ADX strength still low under 20 but will pick up from here..for you indi-traders out there..
IMO. with 23rd coming closer the chance for a new yearly low to be made is very high. even tho it might just be made by a volatility spike. Nevertheless, ...
1. Price is non-trendind right now with ADX at 20
2. Current yearly price action still has some room to move compared to previous yearly highs and lows.
3. The orange monthly opening line and the price line tells you what your current bias should be.
4. Currently price is closing in on its average price for the year - be careful to trade average price as it ...
Looking for 2 scenarios
1. a re-test of the channel breakout which if it holds will push price down to the 50%. A long is tempting from there.
2. A failed re-test which will push price higher a bit and delay my trade. I dont mind waiting tho.
Limit order set.