IOTA is a utility token for driving IOT devices.
AUDUSD finally broke support and closed the week with an RSD. It should continue down and finish a correction. The first area I'll be watching is around the 50% line at 0.6718. Once it turns back up I'll add long.
EU broke support at the neckline today and closed below. It should continue down to around 1.1056 for a start, then we'll go from there.
Right now it looks to me like it may develop an inverse head and shoulders spanning 7 or 8 months. I don't usually pay a lot of attention to HS patterns, but this will be a big one. It's more about the lower high, or in this case higher low than anything HS related. Across multiple months it's a strong indication of impending trend change.
EA made a new trend high over 1.70 today. It's now up from a low at 1.16 in 2017. It is in my shorting zone, but also has not made a top as yet. It looks like it could take off higher from here. Time will tell. I initiated a short at 1.7028 with the 5/8 line acting as a daily close SL. If it really gets going it could run right up into the 1.80s. However, this...
EA is in the range for a long term short. Today it reached a new high (over 1.7060) for an uptrend that started in 2017. It could easily continue higher, There's no established top as yet, but the cap is probably between the 50% and 5/8 levels of the current longer term active range (2.11—1.16). The 5/8 line will serve as a daily close SL and is around 1.7550.
EU has broken down from it's latest attempt at a trend break out. Having failed to progress it is now coming back down and has just completed the week by breaking down from its first retrace after the initial drop from the top. Continuation is expected and a short position was entered at 1.1126.
Short now and will add if it goes higher. SL is a daily close above the high at 6939. A daily close over 6942 will trigger a buy stop.
Trading Aussie by the dots. Waiting currently for a short set–up to finish developing.
Starting off short here at the current June '19 high.
Currently short ea from 1.66808. Waiting for the pair to get back up to around that level to add. It is just under the 50% of the retrace of January's spike high.
AUDJPY has set up a nice 300 pip range for us from 77.41 to 80.41. I'll bite. Will wait for a limit buy to trigger to enter against a tight stop. If it breaks below I'll go short. If it reaches 80.41 and pushes through resistance, it becomes a trend trade and I'll follow it. Otherwise, I'll take my 300 pips at resistance and move on.
A stop long will be used to enter UJ at around 20 pips above resistance with an SL set below Thursdays low (the two little hammers on the daily to set up the trade). This will allow for a long entry if resistance is broken and a momentum move occurs. It could also be triggered if the current short environment triggers a bank reaction creating a spike in the pair.
Still pursuing the idea of riding the wave down towards a bottom and getting long when an uptrend has developed. Currently short and expecting a move down in the near term. This may give us a wave low either above or below the previous at 0.70024 (MT4 price).
From its current price GA could go either way. There is strong support immediately below which could start a move higher towards the high, or above. Alternatively, it could break down through 2 or 3 pivots and drop a fair way. Will watch to see what develops. A long entry off support will be set up with a tight stop.
Looking to buy on retrace of this first move higher (~80.08). AJ has broken up through resistance. The trade will be kept open until the stop ends it. Top of the trend may be around 84+.
AJ is working on its third high in the same immediate price area. The short was initiated at 79.580. The idea is to trend trade the pair to the bottom of the wave. The lines on the chart are possible levels to take profit and reload. This pair is consolidating here at the moment and may well move higher to a new level. So far, resistance is holding. An SL has been...
First the trade is to the bottom of the current wave. A higher low indicates a correction or trend change. In this pair a long term trend change should be expected. If the pair makes a low for the wave below .70025 (the low for the previous wave) then the down trend continues. This same setup can be used from the top of the next wave down, if there is one....