CYH: Current year high
MO: Monthly open
Notice how price moved quickly lower and ran stops neutralizing the week longs.(Green x). Price opened and quickly moving higher. If price breaks 0.72284 level. Wait for price
to retrace back in for long. I believe market will seek higher prices. Also notice the resistance at Current year high level.( rectangular...
Red Vertical line: Previous week open
Green Box: Last week Price movement
WO: Week Open
MO: Monthly Open
YO: Yearly open
Week opened at 1.28111 level and moved sharply higher on Tuesday. This inefficient move probably caused by news (CPI m/m,Core CPI m/m & BOC Gov Poloz ).
The price went...
Red vertical line: Week open
Green box: Last week trading
Magenta horizontal line: Monthly open
Week opened at 1.23058 and price moves higher and finds resistance at 1.24125 level. Price moves lower passes weekly open and runs stops at previous swing ( Green x) at 1.22723 level.
What i want to see going forward for this...
I see the dollar in a range. The high 91.01 PYL level and low 88.35 level.
1. Price opens and moves higher into MO level finds resistance and reverses and moves lower.
2. Price opens and continues to moves higher and raids the stops resting at 91.01 level and reverses and moves lower. higher probability trade.
3. Price opens and continues to move higher...
I want to see price break above the 1.39957 level and wait for retracement for a buy. It would make a higher probability trade ,if price opens and moves lower
and raids the stops resting at 1.38889 and quickly moves higher. If price continues lower than the bullish bias is not valid.
Wait for price to move lower at 1.2743 level for buy. If price moves lower and hunts the stops resting at most recent swing .Wait for price to reach Weekly fair market value at 1.2565 level for buy. Allow the price to move low upto WEQ (weekly equilibrium). If price continues lower than the long bias is no longer valid.
Price moved strongly above the previous high ( Strong resistance line) and moved lower. When price broke below the 1.28669 level i saw that as a break in market structure.
Any move back into the green box area was a sell. I had a market order at 1.28822 and stop 1.30033. The price moved higher very quickly filled my order. The fast move yesterday was probably...
Notice the Bearish candle in the green box. Price moves higher and neutralizing the weak shorts. Price moved lower and broke below the green box. That to me is a break in market structure. I will hunt for any price move up in the london session as a false move for sell.
The dollar posed to go lower in mind. I will look for buy in EUR, GBP, AUD, NZD & CHF.
Notice how price had moved higher neutralizing the weak shorts and finding resistance at Previous year Equilibrium. If i am reading the market correctly, Market structure has broken to the low side. Any move higher into the green box is a false move to trap all the sell stops resting at swing points. I will hunt for sell at the green box and scale off position at...
Notice the resistance at top of green box 0.94067 (Fair market value) and support & Resistance at Equilibrium 0.93457.
Wait for price to retrace back into green box and hunt for bullish Price action for long. Allow the price to move upto Equilibrium. If price breaks below the equilibrium and closes, strategy no longer valid.
Long @ 0.94067 or 0.93457. Target 0.96400