EURGBP has formed a strong channel within a channel. I may try to capture some of it's move back to it's center line (heart line). But wisdom would also suggest that I leave it alone. It's in the middle of a longer term Daily channel, and the smartest move may be to wait for one of the daily extremes to get hit for a stronger entry.
I'm looking for shorts here, as we hopefully travel downward. My lines all coincide on Christmas (Dec. 25th). As we get close, if price is headed that way it may spike down early. Hoping for it to bottom out there at the purple channel line for good probability longs after the 25th.
As always, I appreciate your critiques, especially if you disagree.
I'm carefully taking a long here on NZDUSD. Because we're flattening out on top, and recent highs have failed to reach new heights (or the top of the channel), I'm wary that I'm sneaking pips with this long.
I'd love your critique, especially if you disagree.
I'm waiting for price to touch down at a previous low, or below it at recent support. If it does, I'm looking for buys, but because a buy is counter to the current trend, I'm only getting in after a confirmation of higher highs and lower lows on smaller timeframes.
While I could potentially see a bounce to the upside right now in the next couple hours, it would be a very aggressive move considering the strong move to the downside over the last couple days. I think I'll be better off waiting patiently for a new short signal.
AUDJPY short term bounce, looking for another shorting opportunity. The AUDJPY -1.24% is within multiple downward wedges on the Daily and H4 timeframes, giving power to a suspected longer downward move. I consider it continuing downward as long as it stays closed below the .0902 fib speed resistance line. I use the same lines on smaller timeframes to establish...