If price-action plays along the forecast there will be no excuse to miss it. It may not go all the way restesting the 1.17 area, but at least an ABC correction would be at stake. Happy trading!
Price-action suggests strength of yen at short-term. Happy trading!
The dollar appreciation starts to lose its momentum. Nevertheless it is likely to have another move downwards to test the bottom (zoom out to see the great wick) as price-action suggests the continuation of the downtrend to the $0.63 area. Anyways, this setup gives a good risk/reward and I think it is worth trying.
I have been tracking the Swissie since the last downward move for a trend continuation trade (or at least an ABC correction). Those squares are meant to distinguish between the price-action from the time-factor. Since the prices met the expectation, now the counter trend line has a huge play. If prices break the line, I will try a short position.
Target one has been reached making 340 pips for the lot. For the target two lot the stop-loss is at breakeven to run freely. Trade plan:
Have you paid attention to the narrow-ranged candle before the breakout? Trading as planned:
This countertrend trade projects a C wave around the $0.72.
Assuming the last uptrend as a third wave, prices are now at the 4th wave correction. This setup is basically to press 'buy' button if occurs a breakout. Happy trading!
It is likely for prices to do an ABC correction of the major impulse. But the consolidation is lasting long enough for prices to trend up. Waiting for the breakout. If it is a ABC, I will expect a complex wave C. Happy trading!
Opening positions at 0.764 retracement of the impulse breakout.
USDCAD consolidates in a fifth wave (daily) of a fiifh wave (weekly) It may go for another five waves up as an extension of the 5th wave. If the consolidation breaks south, it is reasonable to expect an ABC correction.
It seems a simple correction with impulse downward and consolidation all preceeded by a MACD divergence. The break of the consolidation triggers the short positions. _______________________________
Prices are testing the daily trend line while a fifth wave would give this pair a possible last-dip before breaking out the bearish line. For this fifth wave I am expecting an ending diagonal. Or an abrupt breakout, whichever occurs first. Happy trading!
Quite interesting: this could be the beginning of a major reversal. Looking forward to a third wave to buy.
This position has been opened for a while. +50 pips profitable.
Due the market and FOMC Minutes expectation, I am closing all position. Profit: +130 pips. ___________________ *Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
EURUSD and its appetite for consolidation. It seems that Euro will not float easily for the next couple of weeks. The currently potential leading diagonal is a five-waves pattern. It may turn an 'A' wave of a major ABC corrective pattern. Follow me for further analysis.