So a few days back I had an idea about DXY entering the cloud and what might happen, it seems now that we have broken the cloud and DXY may be going down more. If we look at fib retrace after this long climb and target the 38.2% level, there will be a big fall. Here we need to have a look at the 26 lagging line ...
With today's rally we see a divergence in macd in 30 min and 1h charts, I would suggest a sell here and target 1206 or even lower. I would also suggest closing this trade before tomorrows news events in the NY session.
This blue line is holding it seems for now, if it is broken at about 1205 -1206 then we can go long and 1222 -1223 will be big resistance. If we can break 1196 - 1195 and then 1192 level we can go short.
Also if 1205 is rejected we can go short and target 1196.
This strategy involves using the trading sessions of all the markets. I created this because the NY and London sessions are more volatile and you then make more losses when making the wrong call.
Here are the steps to this strategy.
1. Find an indicator to show the trading sessions.
2. Trades on this strategy must ...
With the DXY entering the clouds and MACD showing divergence will we see a further drop in DXY?
I will be looking for the price to break the bottom of the cloud then go short or it could bounce back up from the cloud.
After my first call to short around 1200 gold has gone down $17, it now has retraced and here we have another good entry point to short at 1196 -1193 depending where you get in.
Keeping my short from 1200 open for now.
Our first signal will be the 96 mva crossing the 192 mva, and then we want to see another candle close below the ichimoku cloud. Then we need to find a nice entry point, maybe 1200. Also our MACD is crossing the zero line downwards.
Now that the 96mva crossed the 192mva it is a better signal for n short entry, I entered at just over 1205, I think one can still enter or put an order in if it should go lower at 1201. Also my RSI and MACD is showing downward.
I will be having an order in at 1209 if this should continue upward.
Here I have an option to sell gold as my 48 mva crosses my 96, I do not open my order directly after the cross, I wait for a little retrace and then open a order should it continue downwards below the last low just before or just after the mva's crosses. In this way I don't run a loss should the signal be false and ...
I start by waiting for my MVA's to show what the momentum is. Then waiting for a retrace so I can take the previous high as a breakout point. Taking a 500pip profit or a 500pip loss, this has been working very good.