Idea: Testing a strategy using the relationship of related time frames for measuring retracement high. I am expecting the retrace to have reached its maximum price limit and price to return to the short trend at 35.13. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my...
Expecting a pullback on the AUDUSD to around 0.7542. For further strength to be seen this week in the aussie I would expect it to happen at this level. If it breaks under this level I will be watching the DXY for further strength and managing the aussie short until its at least 4hr os. DISCLAIMER: This is where I practice ideas and work on my trading techniques....
Expecting a maximum retracement of USDCAD to 1.32162 and then further selling off. This retracement idea is also dependent on time and expected to be in the next 7 trading days for the strategy to be valid. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading...
Can price hit 1214.87 before getting long? DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Expecting some upward pressure between 1.2860-1.2883 then a strong sell off. In associated pairs: EURUSD is not slowing or showing a reversal yet. USDJPY price has slowed and clearly reversed showing Yen strength against the dollar from the June 28th. The movement of these two pairs could help to restrict the EURJPY climb up before the short fall. Further...
The DXY has seen strength over the past few sessions. A retest at or near the previous low around 95.58 would not be surprising before a continuation higher. The volatility of NFP week may provide the dip to get the DXY higher.
USDCAD turning into a long retracement seems a bit easy at the current price 1.29589. Waiting for the hourly to be oversold and a optimum low of 1.29368 would provide much better risk reward in case the move up is not as strong I would like. After all, it is NFP week so the move will likely be repeated even if I miss the entry.
Expecting price to fall back into the weekly and monthly downtrend to 1.25408 after recent strength.
AUDCAD is off the 4HR RSI over sold and due for a correction.
Daily and 4HR time frames are both off over sold on the RSI. I am expecting a retracement to 3.58 unless further signals to to sell off become evident. Price reaching a low of 1.80 would be ideal for the entry long, giving the trade a 25:1 theoretical risk reward. As price has already reached 1.92, we may not see more downward pressure to achieve the ideal...
Based on technicals Diageo looks to move long back into the daily trend. Diageo will pay $700 million up front for four-year-old Casamigos Spirits, co-founded by Hollywood star George Clooney and two of his friends. Who doesn't like tequilla or Clooney? Worst case scenario.... yet another celebrity pump and dump. DISCLAIMER: This is where I practice ideas and...
Expecting further downward pressure into current sell off for the next session or two. Trend strength to be reassessed after London open on Monday.
Idea: This week I have been working on flipping time on my strategy to see how the time taken to complete a trade is effected. I have been working on reducing my time frame from 4hr charts to 15min charts. Entry will be on a small time frame chart and exit on a larger one. The exit will rely on a time target instead of measuring the previous trend and predicting...
If the roof holds the sell off could be more aggressive than the USDJPY. Let's see how far it can drop. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal....
Idea: Still trying to find the USDCAD floor to establish a decent retrace bounce off the 4HR over sold. The retracement high at 1.35976 is just as important to return back into the weekly over sold trend after this leg up. Pros: Perfecting the entry will maximize the profits from the previous leg down. Cons: The position is not as close to the stop as I would...
USDJPY short trade to get a better position into the long trend. The price of main interest in 109.382 to look for the flip long on a smaller chart. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and...
Idea: This weeks topic of conversation has been nu short trades. There has been a lot of talk on the chat about NZDUSD heavily retracing and some interesting psychological FOMO going on. The daily RSI is over bought and the weekly looks like it is approaching over bought again. To me this is easily a dip buy until the weekly is over bought. I can't see the...
Idea: Adding to long trades at 1.32541 and any further retracements to that price. Testing a strategy using the relationship of related time frames for measuring retracement high. I am expecting the pyramid trade to hold and the retracement long to continue to my 1HR target at 1.33343. Pros: Perfecting the pyramid trade will add to profits from the previous leg...