The apex of triangle on CCI is below zero, favoring down. The move continues down from the previous CCI short signals. Because there is now a CCI divergence, two new things may be on the horizon.
1) at some time, the price is likely to be revisited where it was when the CCI low prior to the divergence occurred.
2) normally a CCI divergence occurs before trend...
If a chart suggests that a change of direction may occur soon, it helps to be ready early. The apex of triangle drawn on CCI is above zero on 240 min chart, which favors Up.
There is an actual Long signal on CCI H2 chart from a break of CCI up through a green downtrendline, and is above -100 on CCI.
SL 14.33 or sar, Short when CCI crosses down through...
The EURAUD retraced 38.2% of last move down and CCI has a 2 bar flat, a reliable short signal. But the apex of the CCI triangle is slightly above 0, slightly favoring upside. we could see a retest of swing high before downside gets serious. Conservative traders would wait. Aggressive traders might have to enter again later or take SL 1.586- 1.626. Watch the...
Price pattern suggests more upside. However, the CCI curvature and TLB allow a test entry with very small risk, so I take those with an SAR stop
SAR TLB if CCI crosses up thru down trendline
H4 CCI crossed up through down-trendline and signaled Long as soon as it was inside -100. A second opportunity is likely following likely retracement to 38.2% of move up from 12:45 on 5.22.19
Entry ~ 1.34068
SL ~ 1.3395
TP1 ~ 1.344
TP2 When CCI crosses down thru an up-trendline
240 min CCI dropped down thru Up Trendline, a signal for Short w CCI inside 100's. SAR signal will be a CCI break up thru a Down TL
Entry 1.12370 to 1.2335 although if using price patterns alone this entry is 6 hr late
SL 1.12450 to 1.12345
CCI has crossed an uptrendline, signalling readiness to drop, which looks good after zigzag upmove. One could enter aggressively now 1.862 with a small stop 1.867. However, waiting for a divergence on CCI and waiting for CCI to fall inside the 100's would not sacrifice much profit, though a larger stop may be needed then.
EURUSD has tagged 38.2% retracement to 4/18/19 swing high. This offers a low-risk shorting potential because the SL can be very small because if price goes above 38.2%, immediately this possible re-entrance into downtrend is negated. It would then be likely to see CCI break up thru a downtrendline for a Long signal. That could also be used for the SL for this...
The price move in these situations is not convincing for a downmove , even if CCI crosses an uptrendline, until CCI gets below +100. This was described on previous chart. I pushed the short entry because I was sleepy, and stopped out. Actually I'm happy that happened, to show you why I need to wait for CCI to get inside +100 before I short.
I'll be ready to...
On H4 chart, there has not yet been a CCI regular divergence with price. If CCI does across up through the down trendline (tl) on CCI, that would be a Long signal. (even if it does, usual CCI patterning warns there might well be a retest down a little before a strong upmove).
Until then, GBPJPY is still signalling short based on
1. previous short signal (CCI...
Thought I posted this but it is not up, so again...
Price may be showing a H&S as well as a smaller triple top on Daily
Aggressive Short 240 min GU on tlb of 240 min CCI up-trendline (tl).
There was an earlier aggressive short on Daily CCI tlb @ 1.3274 on 3.19.19 but I missed it
Confirmed short would come after crossing below Daily 200sma, now 1.295. Will use...