It is so easy to come up with profligacy or a bogus theories of what triggers dollars up moves : Hurricane Harvey = equals compassion, N. Korea's missiles launching gimmicks = weakness... oil plants evacuations influence = equals oil down - dollar up, Arabs on Holiday = equals oil weakness etc BUT! I wont discuss any theory to back up my chart - my apologies! ...
The price have been in the bullish momentum for a long time,the 4hr TF still maintaining the HH and HL. Trading idea is long until HL taken out. Please feel free to drop your idea
I know many of you are watching UJ when trading gold... There's a very important pattern developing on the UJ UJ chart. After a 7 months consolidation ( downtrend in a down channel) we had a character change. Price didn't turn down immediately in a V shaped form as did before. It sticked to the trendline an started to crawl along it. I think the Bank Of Japan...
Price rejected a resistance level (110.60 aprox) in a 4H timeframe. UJ is doing a bullish movement with low volume, wich could indicates a pullback movement. Price is below MA50 in 1H time frame. Also, this pullback respect 38.2% fibonacci retracement. We should wait for a breakout to open a short position.
My signal: EMA 10 cross MA20 Candle cross down MA20 Stochastic not in OB/OS level
The bigger the pop, the harder the drop. Seeing consolidation after a short squeeze on dollar shorts today. This is the same extension short anchor we previously used to trade our short to the second profit target.
All to do with USDollars - lots going on and all pressure on Dollar looks positive as numerous news weighing in. We cash out on the south run as TP hit, and we re-instate long position with TP @ 114.931
If Fed rate hike will cost consumers $1.6 billion in credit card interest - you all know what that means- right? in one word = SHORT!
Some people post some short ideas, but i strongly disagree with that, because MACD is still above 0, you can see the triangle, it show bullish pressure to resistance level 114. However, you can short in short term to scalp some pips.
breaking the long triangle target 124 short 110
Blue trend line = 1 hour Red trend line = 2 hour Green trend line = 4 hour Multiple breakouts with indication of going down.
Rising wedge, a breakout could slam UJ down quite abit. Pay attention, happy trading!
Last nights breakout had 4 retests I made 40 pips.I was able to draw new trend lines. From what it looks to me if it breaks the bottom trend line then it could be going down to complete the double top. If it stays between the 2 trend lines it looks like a triangle breakout. So just wait for a retest and buy or sell.