A firm believer in the Wave Theory. If you think about it deeply enough, life itself is a wave. Catch the wave and ride it. Waves consist of Amplitude and Wavelength. Waves are the Financial markets. Corrective and Impulsive
Joined 9 months ago
After an Impulsive Wave 3 . The US dollar Correction ( ABC Correction )
Price Tested the 1.30 Zone Where the US dollar becomes cheap again.
Bulls aggressively enter the market at the 1.30 Zone.
Demand picks up. Markets shifting to the North side.
Risk 5%. Reward 10%
Bulls are entering the Market with a clear intention.
Demand sitting at 1.30 - 1.31 levels is going to shoot up the USD
If i am wrong and price creates a lower low, i will be looking to sell my positions on the USD
Enter : 1.31500
Take Profit : 1.36500
Stop : 1.30800
Wave C is completing itself.
Fibonacci Retracement is 78
Bouncing off a Daily Strong Trendline.
Looking to ride it to the top and see wether it's going to push through the previous swing high.
Stop is below the previous swing low. @ 1.30499
Price has retraced back from the previous impulse.
Looking for one more up move to break the top as it is still in a uptrend.
The Uptrend hasn't broken down as of yet there's no clear signs for a downside.
High Potential reward
Entry : Pending Buy Stop 1.31500
Currently observing a correction in the making. I'm still trying to figure out what this correction is going to do. I've ruled out any major bullish impulses at this point.
Looking to sell.
If you look carefully inside this correction, there's an impulse to the downside which is prompting me to short it now.
My Two Cents:
USDCAD Will be looking to retest the 1.36 Level one more time before Supply over powers demand
Weekly : Price Testing Cloud Zone - Rejected Once
Daily: Price is starting to retrace from a daily consecutive bullish trend
4H : Reversal in effect
1H : Double Top Is Clear
Now to confirm this sell, ...
NZDUSD was in a uptrend for most of the year 2016.
Head/Shoulder pattern to the downside is completed. It broke the neckline.
This pair is currently in a downtrend and will break or reverse when it hits the 0.70 Level which is on a major weekly trendline .
I am bearish on this pair in the long run
NZDUSD is currently consolidating after a strong impulse to the downside. The strong impulse down comes after the Fed increasingly confident about raising rates in the coming weeks. The next impulse might come soon or later.
When the world starts reacting to any major news i always see a spike in Metals as they tend to want to invest in something solid instead of world currency..
how people trade the news.
I just count the waves and trend line . It seems more probable that it will go long in the next day or 2