This pair did not present any intra-day longs so its back to the long term short bias. A lower time frame head and shoulders formed giving short opportunities. Prices are now back below key support and approaching an area of interest. If you are not in on this, shorts can be entered on a retest of 1.3280, a break/retest of the area of interest or a break/retest of...
Good morning ladies and gentlemen and whoever doesn't fit into two genders anymore.
Currently USD/CZK is showing potential downtrend. I've identified this by checking the W and D chart.
W chart shows a sideways momentum whereas the D chart shows a distinctive downtrend. I have also seen a double top form which could be beneficial for the analysis.
A short set up is nicely appearing here at this long term multidiagonal. Expect a big move downward here.
Also, this corroborates with my short views on the FTSE, as HSBC amounts for (currently) 7.3% of thw weighting of the FTSE 100.
Followers of my feed will know that I've been short balanced for the last week and half (ish), so this is a longer term chart illustrating the confluences that appear at major tops and the rough correction we should see.
Currently short audusd after rejection of double top structure. I'm expecting a roll over to make new lows at 0.70678 and ill be taking partial profits should the market get down to previous low. really nice risk reward on this trade as well
A nice multidiagonal short set up is forming on the lower timeframe charts of the USDX around the 12625 level. We can expect this to feed through into other multidiagonal longer term trades on metals such as gold, which could see a bounce on a USD fall at the confluence in this chart.
Entering a short position in the FTSE 100 at these levels seems like a good risk vs reward trade at what currently appears to be a long term Multidiagonal top.
This also aligns with bullish Multidiagonal patterns in gold, corroborating the reasons to be short around this 7100-7150 level.
Pound currently showing weakness against the dollar. My longterm view of the pound is that it will see 1.1500 next year and aren't really looking for too many buy trades until it proves its got strength. However in the mean time it is sitting in a precarious position above 1.22500. A break of this level will see us down to new strong level of 1.2500 which has been...
Price has printed an indecision candle on resistance on the weekly and on the daily, potentially showing that the bulls have run out of steam
If price breaks below the daily indecision candle, I will go short targeting the previous resistance level.
gold is currently presenting a decent shorting opportunity. it is showing multiple rejections of the 38.2 fib and is currently being capped by the 50 ma on the 2 hour. A strong close back below the 38.2 and we could see a continuation lower to the 1.27 fib extension which also lines up with weekly support. targets at 1194.63 area