Just hopped onto the short as price confirmed, we will send the order to put the SL to BE tomorrow
If we have a bearish candle on the 1 hour chart, that will be a decent confirmation. If price moves through I will not send this trade out.
What I sent out to all, Should price break the highlighted zone I'm not interested
I'm leaving this on my high leverage accounts while it grow through to the new year.
Our traders have been mentioning this for days now, we have now entered a swing short and pushed it out to all our students. It'll be pushing pass our target however we have set this on our high leverage accounts. Merry Christmas
Once confirmed this will be one of the three trades our office will enter.
The mighty dollar still isnt over, the bullish trend on the daily indicates we will be here for a while.
We are currently watching the forth wave of USDCHF while the bears prepare for the main short.
Our traders are in lining up the shorts before we enter for the final long on this cycle
I can see wave 4 is almost completed, I will be tempted to enter on wave 5 should I see bullish signs from our fib area
Our traders are looking to enter on wave 2 on this pull back.
GBPJPY is still forming wave 4 which is why our buyers are preparing for a long on wave 5. Not interested until our fib area is hit with a correction pattern we can identify.
As AUDJPY is forming the forth wave I will sit back and wait for the the buyers to take wave 5 beyond the heights of wave 3. I am expecting price to hit the base channel for support or the trendline which has been hit twice (see yellow arrows on the second wave)
As AUDJPY is currently preforming a pullback I can expect GBPAUD to play in the opposite. I will be interested in shorting GBPAUD once the trend line as been hit all the way to the minimum target for the wave 3 (1.618 Fib)
Please remember that AUDUSD will more in the opposite of USDCHF. I am expecting a pull back before price breaks through the base channel. As USDCHF is currently forming the second wave.
Following the EW principal we have a beautiful set up coming up, it is our recommendation to wait until price has finished wave 4. Then you can sell to wave 5 which should be the same length as wave 1. Happy trading and have a good weekend.