Dollar Index Daily-
Watching this for my UC short position.
Looking for $95.31 to be broken and for the dollar to dump within the next daily candle opening below.
As of now the media is talking about the Feds saying they are talking about conditions that if meet they will increase rates.
No one really knows what the hell they are discussing but the chart tells all...!
Long USDCAD on 2 HR 200 EMA along with 50% pull back.
Very strong bearish move to get to this price... Not sure if the bulls can win this battle but I would only want to take Dollar long at this point.
Target: Retest of rising channel
Multiple TA confluence building up.
Long Term - Weekly Chart is over bought. If price can reach 1.32700 and fail i will look to short.
Currently I am long at 1.3100 due to trend line and 50% Fib retrace.
EURUSD 4hr chart is a great setup for a small play long. Target is a test of HWB 1.0920. I will imagine it will front run this level by a good 10 pips or more.
Always will look for more room on the trade if it continues with good momentum.
With the market turmoil we received from last weeks FOMC meeting it created what looks at first glance a instead market. Thus I am going to stay with the KISS rule which stands for Keep It Simple Stupid.
As long as big money is reacting and holding price below 1.49793 I will be making 15min and hourly intraday shorts.
Long term I am still playing this short. There may be some pullbacks happening and I will take advantage of entering short at the highs. My target for this week is 1.02529
I will look to enter more shorts at 1.09648 and 1.10715. As it approaches 1.10715 I will look much deeper for a precast stop loss.
Things to note on AUDUSD:
1. Critical 61.8% retracement level has been broken. Indicating sellers are in control.
2.The best entry short would to wait for a monthly halfway back, entering at a level around .85347
3. Intraday trading we are only taking shorts until daily fib swings show bulls are in control.
Target #1 short is .71167.
The FOMC meetings create a lot opportunities but at the same time it makes the market a little scary.
Here the pair has again retest the weekly half way back. I failed to enter as I am counting on the news to send the market into a false long break out hitting this level again.
Will see, be safe everyone
GBPAUD - Daily
Potential bull flag forming among these daily highs. We will SOH (sit on hands) until any short positions comes available. Stochastic RSI (weekly) shows this pair is overbought. I’d like to wait until 1.80836 is broken to take a short.
Enter Short @ 1.80836
Stop Loss set at 1.91818
Weekly RSI: Overbought
Looking for midweek set up. Daily has an inverse head and shoulders with a low created at 1.49502 in addition created the bottom of the channel you see above. There may be room to take a short position but we have heavy support at 1.48304.
Enter Short @ 1.5150
Stop Loss set @ 1.5195
Weekly Stochastic RSI: Overbought
Channel low complete profit target. Large support lies at 61.8% retracement from 2001 -2011 bull market. Smart money may be leading this pair down to that level leaving them to take profit. I think first we will see a bullish bounce to visit the top of the channel. Profit taking will again send the pair south to our 2001 61.8% retreatment level.
First off we have the obvious inclining channel playing out good thus far. Looking to play a HWB (Half Way Back) off the last bull trend. It looks like this is not going to hit until a potentially December 2015 so we will be looking intra day to take short positions.