Looking at a potential 1:55 short on EURUSD, my bias is relevant to DXY. Expecting retracement on Monday to clear up Thursday/Friday liquidity. My POI is based off of a BTS that needs mitigating, as it has taken out EQH's and left and IMB after it which is all signs of Smart Money.
The market has left some EQH's to be taken out on the way to the POI, with IMB's...
Awaiting break and retest of either side.
Bullish trade Idea
1. Wait for an impulsive break of 1740
2. Wait for price to retest 1740 region - ideally with a bull flag
3. Enter trade with a take profit of atleast 1780. Ideal target 1800
Bearish trade idea
1. Wait for an impulsive break of 1660
2. Wait for price to retest 1660 region - ideally with a bear...
This is a 2H time frame set up. I show how this could be worth a shot south or a shot north (subject to your acceptable loss).
The estimated probability south is 55% - which leaves 45% for the north.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in...
I explain why on this particular time frame the 2H at this point in time there is a greater probability for the south.
Please note carefully for every probability estimate in one direction, there is a residual probability in the opposite direction (e.g. if 51% for the south there is a 49% chance for the north). There is no way I know to accurately assess or...
Gold has bumped its head on a historically strong resistance level at ~1560.
USDJPY has not confirmed gold's move since Dec '19.
USDJPY breaking out higher itself (bearish gold) so we should expect gold to readjust itself.
DXY in general has regained an important historical level + 61.8 fib of most recent trend which points the dollar higher (bearish...
AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
Don't short basically.
Recorded from my laptop in a lunch break - so turn your speakers right up.
I'm stalking the DJI carefully for any sign action. This is a market built on hope and false confidence. It can't go on forever.
Disclaimer : This is speculative opinion - not advice. If you trade this market and lose your money, kindly sue yourself.
In this screencast, I show how shorting on a 2H time frame is optimal for me to take a controlled loss. I explain where I see the big trends and some smaller trends.
Note that this is not a prediction, or recommendation to short. I use a very different methodology which is not 'just on the charts', though at times in simplifying things it may appear like a...
EU broke a huge consolidation area and that can be seen with the broken counter channel. Price is now retesting that breakout and could possibly fall further to make new LLs and LHs at 1.12000. with that being said, be careful of the potential double bottom for a new rally to the upside.
Follow risk/money management, there is plenty of time to become millionaire.
There is a possibility for a triple bottom and potential reversal. Let's see how this plays out.
This is not forecast unlike my other charts, just an idea/possibility that has a realistic chance to come to fruition.
People called 4k when we hit 6k bottom and where I bought, people called for 4.8k at 6.45k where I bought, people called for 5k at 6.1k where I...