AUDJPY H4, showing signs of very strong convergence, market clearly going the opposite way to our indicator.
A counter trendline has been put in place for more clear break and retest and entry scenarios.
Targets are also drawn.
On the right we have AUD weighted index H8, where we can see it has tapped off a clear demand zone, I believe we can see some reaction,...
Currently in a long cypher with targets 1 already hit and target 2 in sight.
If we can hit target 2 and continue a little higher we could see a second cypher completion to get invoved in the short side.
I am keeping an eye on this pair for the next few days to see how it plays out.
R;R is nearly 1:1.5
Safe trading everyone
This pair over the past 2-3 weeks has flew up over 500+ PIPS I believe the pair is now over bought and it currently needs a pull back of roughly 200-300 pips. Price has rejected my major Daily Channel Trendline looking back a price action when this pair hit the Trendline it fell over 300-400 pips so I believe the same scenario will happen again, before...
Posted this set up last week, however due to technical factors not aligning the trade set-up was cancelled. Following Friday's bullish engulfing closure breaking out of the range-play, Euro now looks set to advance into the 126.000 weekly key region.
The trade has recently broke the resistance (now the new support) and then then tested the new support. Now currently rising
I think the trade will go up to the trendline which it has respected in the past and then the next decision is from there. If it breaks the trendline and closes above it could possibly go higher to next key area but if it doesn't and...
Over the past few years, playing the rage in the Swiss Franc has been a massive money maker, the range being super wide, just wait for the extremes of the range and play it back to the other side.
Fundamentally, The Swiss National Bank, SNB, communicate that they dont want the currency being too strong, (which is the lows on the USDCHF ...