UnknownUnicorn613167

UnknownUnicorn613167

Still feel this is due a bit of a correction. Grinding sideways for the last week but it still looks like the bears have more control.

UnknownUnicorn613167

Wait and see mode, Do we a) bounce a head towards 7500 or do we b) break the neck line and wait for a retest to go short.

UnknownUnicorn613167

But this is a reminder to myself that Oscillators, especially the RSI can stay overbought for longer than I can stay solvent.

UnknownUnicorn613167

J61! looked bearish as bearish can be, though they had come out of a larger up trend, so I can only presume that they are correcting and looking for more buyers. "Bulls take the stairs, Bears use an elevator". The fib says that the Yen has interest here at the 61.8 If you look left we've come down to an area of balance and based on the presumption that we are...

UnknownUnicorn613167

I didn't take the short, I have a feeling that this is due to go sideways. However, I was interested to note that the channel held, a fib level held, a market structure held. So yes, I am an idiot for not taking a Short.

UnknownUnicorn613167

A little higher and you would have to concede that a strong trend could be hard to reverse. However, just here there is a line in the sand that Bears can take advantage of. Technically. Fundamentally, USD is working out whether fiscal flows V's Fed Rate Hikes are going to bring the USD down or Up going into 2017. The consensus of late is that USD is strong and...

UnknownUnicorn613167

Continuing on from my $ short idea, USDSEK has done exactly the same as a lot of other $ crosses, so it's rinse and repeat ideas but with more beta.

UnknownUnicorn613167

If we get a lower close today this could be the start of a beautiful DXY short. Momentum divergence to price. RSI overbought. Though we need it to go against all the hype of rate hikes etc.

UnknownUnicorn613167

This is to illustrate my theory that if something reaches the 2.618 ext. it usually goes on to the 4.236 ext. For this to work out I'd need the 113/114 area to have a reversal set up before taking a short.

UnknownUnicorn613167

Maybe its witchcraft but if the divergence and the fib extension have any truth or meaning, EU could be a lovely buy here

UnknownUnicorn613167

Still feel that the downtrend is the strongest trend. Intraday we have stopped at the 61.8 below the 103.145 swing low A risk reward of 1:2 on the daily gives us a target of 99.200

UnknownUnicorn613167

It hasn't been an exciting trade lately but the range is quite clear. Price has come down to an area that interests me and I have initiated a long. It would be great to pop out of the range and test the resistance up at 1.4100

UnknownUnicorn613167

I was thinking this may go a lot higher to complete a 3 drives pattern but when we closed below 0.8500 and the rising trend line I was forced to consider waiting for a pull back to trade down to previous weekly resistance at 0.8100 0.8500 is the line in the sand and I am short from 0.84500 should we get there.

UnknownUnicorn613167 Updated 

Having got short on my prop account at 103 I am now looking to target 91.5 The trend line down has been touch 4 times on a weekly chart making it a very significant line to be aware of. Everyone that was calling for a double bottom I believe had thought that the FED would raise in September. If they do then i can see this trade not going to TP. If they do not...