Last Friday was good Friday for the US dollar we also got higher lows on the weekly after a nice impulsive move from the 100 lows these are two confluent factors that make me like the long! If you're entering at this price stop loss below the 109.80 should keep you in this trade to reach previous highs of 114.
This Pound has had an amazing run and I do believe its going higher but im getting the feeling that a correction is due. We hit resistance at 1.3160 which also lines up with the 1.272 extension of the last leg up and I also have 4hour bearish divergence. Those 3 factors combined and seeing the DXY bottoming at the 93.00 level is giving me confidence to take this...
If this 80.0 level holds we can see a nice correction in this Loonie strength, ill be looking for a move to 77 or 78 so set a liberal stop loss and take a modest position if you're going to take this short that way you can actually stay in the trade.
Hey guys we've had quite the run on euro which isnt a surprise if you saw the H&S forming on the DXY Months back. Now we are approaching some weekly/monthly resistance at the 1.1710-1.1720 level. I don't know if were gonna make it there or not if Yellen sends the dollar weaker I will look to short at those levels, if not I have my sell stop under 1.1609 ready to...
Looking at that beautiful resistance on the EURGBP.
Minimum target is .8100 and it would be really nice if we tested the .7700 - stop loss above .8000 or .810o be safe accumulate and scale into this trade as price action favours the short
Its time to start thinking long dollar - the dollar has taken a beaten given the break of the neckline of the H&S on the weekly time frame.
Price seems to be making a bottom I am looking for a retrace on the POUND and EURO and then we can think about going long on those pairs again.
The Pound has a beautiful run up against the cad especially as oil has been tanking.
Now however we have formed a decrepit looking H&S after a beautiful run up. I am expecting a retrace to 1.75 at minimum.
If Oil has found an intermediate bottom we could see the GBPCAD even lower to 1.73.
If you take this trade use proper risk management and understand why you...
Shorting at the end of a potential wave 5 with Bearish Divergence
Risk/Reward is good on this one - but higher probability of being stopped out since im with the trend. Risking 1% I can be wrong 2 times and still make money if I hit my prospective target of 1.24
Still looking for this correction on USDCAD to take us lower its been quite the battle but - i've been waiting for 1.3650 for quite some time - we were just shy of it by 3 pips on Apr 26, 2017 - at that point we had a huge impulsive move down - Price has stalled probably due to anticipation of the ECB press conference. Never the less looking for a big move...
Its risk ON! Buy the Kiwi, Buy the Aussie, Buy the Euro...or dont?
Take my analysis with a grain of salt, but when I see a double bottom, hidden bullish divergence on a daily time frame, and the fundamentals line up, I tend to get excited!
Sorry guys I used caps to try and capture attention please let me know if it attracts you or pushes you away.
We have a H&S forming with perfect symmetry using fibonnaci.
Move down from 103 to 99 looks impulsive to me
Therefore this move up from 99 to 102 can simply be a corrective pattern to the upside (using momentum indicators to help you with this...
Two likely scenarios based on my simple Price action analysis -
We are at dynamic support with long term EMAS and we have approached a key structure level @ 1.0625
1) We pullback and continue this move to the upside
2) We continue down, and we sell of the euro hard