I haven't touched this markup since it pulled up. That's the scenario I drew up. If we are on wave 2 correction I would expect at least 1 more leg up, but don't go just jumping in these. I wait for news to hit and for them to move back and forth and then I may feel comfortable hopping on. These are just setups
The yen pairs have positioned themselves at trend lines. UJ is a long term buy. Doesn't mean we can't get further correction down, but it has tested my fib twice and is pending breakout. If it drops I will not be in it. I am not in it now. You have to have experience trading NFP. I'm not in it but looking for opportunities to go long. If you watched my video or...
I bought UJ in that consolidation in profit. It could be massive buy or just go for a break of high
Gcad has made what could be an ending diagonal after breaking the high. It broke the major high, which is all it has to do, but does have a larger fork it is close to the top of. I will just do a short video on this pair. It made the same exact pattern that eur/nzd did when I called that sell from the very top. I am not as convinced on this one that I was on EN....
Echf has extended as far as I would like to see (further actually) if it was to do a 5-3-5 pattern (zig zag). It is above the .618 retrace at 1.618 fib extension. I would like to see more of an ending diagonal pattern on 1hr. The thing is, as long as the last daily ending diagonal was (might hold the dang world record), along with the fact that it did a 5 wave out...
Ecad is making a small ending diagonal and just barely broke major high on the weekly, after it broke the diagonal and channel it was is in in it's current pattern. May get a wave retrace. I'm taking the day off, just happened to glance at it.
I added a position to this (although I am in higher up and always welcome stop hunts). GA is a completed pattern in my opinion and should be in the way down, at least to trendline, possibly MUCH further. The ABC labeling is not how I label out the pattern but am showing you what looks to be a completed correction after a leading diagonal. So that added position is...
I'm in from the bottom. Look for AU to make 1 more wave up (wave 5 of current wave) for scalp. Can extend
Ncad came within 2 pips of my scalp TP and sitting right about break even right now. So remember in the future they will often come close to a level and not touch it. Acad spiked down also. Gcad I took profit on a nice scalp. Of my 21 open positions, AudNzd is my only negative, shouldn't be, that was in profit off news spike and like I said, not the greatest...
Cad/chf is moving harder than the others, but I would expect some shananigans out of it. What I drew up is probably nothing like it will do. It came off fork and .618 but never touched the trend line... I am in it very small waiting for better confirmation. It can just go, but this is a pair you need to be careful with. The buy on this should be for a 38-50%...
Gcad broke channel and produced a sell setup and is moving more than the others but more major cad news tomorrow and it has not produced a larger correction yet. I am just up on a scalp trying to decide where to TP...
Acad completed 5 wave diagonal coming off trendline. Turquoise lines are possible targets. May want to retest the 1.0000 level but I would expect a correction first
It broke channel and zone. Looking at higher time frames I can see it make another push up before the bigger drop but looking like at least a scalp coming. I will continue to get tight sell entries on these cad pairs and leave some to ride because eventually I will get the longer term sell. Not a lot going on new york today so I wouldn't go crazy entering stuff.
The correction pattern EA formed makes me think it will come down some. But don't overload with too much AUD. Aud pairs will move tonight is why I am looking at them. I see too possible scenarios for EA, while 3 actually. I drew that squiggly line as a possibility. It is possible EA just spikes down to low (23%) and continues upward, but it looks like it needs to...
It did a small correction for a flag and is going up. If you don't know this pair maybe stay away from it. I don't mind risking a couple bucks on it, but I already have other Aud. Maybe just take a peak at it when Aud news hits later? Not the greatest set up. As far as GN sell goes,I am just not interested anymore.
I know people have been talking about selling Ucad. My analysis has not changed since I called the buy from the bottom. All fibs and measurements point to that level. I'm not saying it can't retrace. Just saying I don't think it will reverse and be a big swing trade like some think until it gets up there so I am looking for any corrections to buy again.
Gcad is right under the 800 ma on daily and 200 ma on weekly approaching pitchfork. It is corrective on the weekly. This will likely be a very nice long term sell, but may take a long time to transpire. I will do that short video now and post it to explain in better detail and will go over a couple others.