Yen provides an excellent short entry for trend continuation. It reached the upper parallel of descending Pitchfork, which intersects the 2018 May Low.
Entry ~ Wait for break of ascending hourly slope line.
Stop ~ Conservative ~ 109.40
Aggressive ~ Above recent high after break slope line.
Target ~ 1 ~ September Open ~ 106.10
After breaking through some tough resistance, Platinum now faces a multi decade downtrend line.
Looking @ it's impressive run over the last weeks, it's probably time for some consolidation or small pull back to support.
I personally would keep a close eye on Platinum for the coming weeks, a weekly close above 1000 would open up the door to more upside.
For now I...
Natural gas is @ a major confluence area, closed below August high and rejected of 100% trend extension. (hidden bearish divergence on rsi)
Entry ~ 2.34 - 2.35
Stoploss ~ 2.5
Target ~ 2.00
240 min chart
Swiss Franc is making nice LL-LH formation after it broke ascending trend line early June. Descending standard Pitchfork looks decent, with numerous touches on both sides. 99.30 is a 100 % extension from recent HH-HL pattern and confluence area with Pitchfork.
Entry ~ 99.30
SL ~ 99.80
Target ~ 97.00
Aussie stalled @ 1999 high, which has been used in the past. A weekly close below this line, and a daily close below median descending channel slope line, means trouble for the aussie.
Target - 2008 Low @ .60$
Stop - .6870 $ August High
Already closed below 2016 low will 1999 low be the last hurdle?
A weekly close below slope line, will plummet oil aggressively lower. Bounce also possible, however if you look @ recent price action and economic conditions this is very unlikely.
Possible target - 31.6$ would be a 100% trend extension.
25.8$ 2016 Low
Stop - 58$
Cable is in massive decline, because slowing growth and Brexit unsurety hit consensus. Possible bounce upcoming @ confluence area around 1.23 and descending slope lines. Look for 4 hour rejection @ confluence area to play the bounce back to ~1.2375.
120 min chart
USD/JPY broke out of it's triangle formation late May. It made numerous pullbacks to the slope line and got rejected on every attempt.
Since the peak in April it has been declining, using a standard Pitchfork. It caught the June bottom very decent. I would probably aggressively scale in to this trade as we move higher, with stop above the 110 handle. First target...
As I mentioned last week, we needed a weekly close above trend line resistance to keep the door open for more upside (related idea section). Last week we closed above this multi year trend line resistance and made LH-HL formation, which essentially broke down late last week. It looks like the pressure is building in gold and could be triggered by the ECB press...
I posted a trading idea of Bitcoin in the beginning of the week, it's in the related ideas section. Bitcoin held at former resistance. I am looking to add to the long position @ confluence area ~10k.
-Stop below recent low of 9k.
-R/R of 2 minimum.
Russel 2000 is in a clear down trend, on the bigger time frame. It rejected of the upper parallel of descending channel and is momentarily making a consolidation pattern just below upper parallel.
120 min time frame
A break and close below 1550, would be a bearish reading and signal a top.
Stop loss: Conservative: above...