Hello Traders, USDJPY is set to fall as the DXY index falls. However, the technicals for this particular pair tell me that price will continue to move higher. If you choose to take the short side of this trade you may do so on smaller time frame and with a tight stop loss. The goal of the short would be to see price go into the consolidation zone.
Previous EURUSD idea is now invalidated. Look for price to make one more high. From there I will update my analysis.
Prepare for big sell off. Take a look at my related ideas for NZDUSD.
Probability defined for each target Stops Below Lows.
Above 70% - High Probability Between 70-50% Medium Probability Between 50-40% Low Probability Below 40% Extremely Low Probability I'm always hesitant to call shorts on Crypto's. But if the bearish scenario plays out, expect these targets to come into play.
Hello Traders, AUDUSD has reached a significant level and produced a sell signal from said significant level. The correction is set to be a big one and should come in an impulse fashion.
Hello Traders, EURUSD has formed a Wolfe Wave in H1. Both Gwaves and my Model are pointing to the same area (highlighted in green). I don't expect new highs to be taken out just yet as the larger time frame suggests lower lows (see related link).
Hello Traders, With the Fed meeting tomorrow I expect the dollar to strengthen. Although a rate hike is not likely until December, I believe the market will react now in preparation of the December rate hike. The Percentage points represent the probability of the target to be hit.
Hello Traders, You can place stops above consolidation zone or above market highs. It all depends on your risk tolerance. Overall, the shorts have been confirmed with recent test of consolidation zone and strong reversal candle.
Hello Traders, Getting in front of the Fed announcement with a short in EURUSD seems like a good idea. My model has produced a sell signal, consolidation zone (that has been tested twice) and has produced targets with their respective probabilities of being hit.
Hello Traders, USDCAD is coming to a crucial stage. Gwave suggests one more down move.
Hello Traders, With the confluence of the Wolfe Wave and my model pointing in the same direction, EURJPY is a high probability sell with very little risk from this level.