traderjuan1

This chart of the Dow Jones Inustrial Average does not bode well for the shot term future. Fact that it has dipped below its 50 day average , and the low close bar of February 8th continues to signal that this market wants to push further down. I don't want to be the doom and gloom guy, I just read it like I see it. Expect more bearish price action in the ...

The USD index is definitely in selling territory. Now, looking at the USD/CAD pair, I see a possible short setting up. IMO, with the price being at or gelow the 50 SMA, a great candlestick with a long top wick, using your best equity management, I propose going short at 10 pips below the Friday Feb 9th low. SL would be at 1 ATR, TP at 100% of the range of the ...

This pair has formed a bearish head and shoulders formation on the 1hour time frame. It also shows bearish on the daily. Going short on a counter trend line break on the one hour chart, possibly around 1.5500.

From the monthly time frame we see this pair in a clear down trend. Therefore I would take only short trades on this one. Looking to go short when oversold, clear break of counter trend and maybe a high uturn candlestick pattern. Perhaps around 1.4440 Profit target would be weekly pivot at 1.4268 stop loss 15 pips above high of uturn at 1.4459 Reward: 170 pips

Looking on the monthly time frame for this pair, I see it is in a clear uptrend therefore I would only take long trades. Using the weekly pivot point as a target I am going long on this pair however I'm waiting for a clear bottom before my entry.