Might be a tad premature and my stop might be tight, but I'm in. Perhaps should have waited a few bars for confirmation. Oh well, let's see. UPDATE: Trade closed for -23 pips, I had no signal to get in. We'll wait till I get a Long signal first.
NZDUSD Time to buy? 3 legs down, divergence, double bottom. UPDATE: Trade closed for 100 pips. Will be looking to re-enter after a pullback.
I haven't got in yet, this will be the idea. Will see what price action does Sunday/Monday. UPDATE: This trade has been voided. There is a move down coming but it's not there yet.
My previous channels in my recent USDCAD ideas have been wrong. This seems a lot more likely to be correct. I think we're halfway through a 220 pip move up, leaving around 100-130 pips left to go. UPDATE: Trade closed for breakeven. (my stacked orders weren't well placed)
One possible scenario, price pulls back to the high of the blue channel and then falls down to the yellow line circa 1.2125 as indicated on the chart. What follows from here is a 3 week reversal pattern then beginning of the new year we might see the bulls take over this pair, for a sustained 3 month pullback. This could be accurate or completely wrong, either...
3 Situations I can see, I prefer the white one, but who knows. Anything can happen today. Good luck.
Short today, Long tomorrow. NFP tomorrow, might help drive this up. Could happen, not 100% confident, so I'm neutral for today. Let's see how this play out. UPDATE: I decided to take the short @ 1.13584 with a TP/SL of 30. Quite inclined to long instead and cancel this trade. I prefer my alternate scenario than this. UPDATE #2: Short trade closed: -22.6 pips...
Right now either could be right. Trading from the balance line can be a dangerous game. There could be one more push down to 1.2270 - 1.2250 or price can pull back from where it is. There are big news releases at 12:45 (UTC) and 13:30 which could be used as a stop hunt or to accelerate price - EU Interest Rate decision. I have done very well yesterday but now...
Been ready for a move since Thursday - I still think it's coming. In fact I think it should fall within the next 12 hours. We have a close above the green channel high which indicates this channel will soon be ending. It doesn't mean it will end straight away. Price should fall first then when it rises again it will break out. The close above the channel high is...
Due to the Thanksgiving holiday our expected move didn't happen or did it? Well I think the answer to that is yes (partially) and no. What I think we're seeing isn't the move officially but a drawn out reversal pattern to send the trend down. As there is so much bearish pressure but also US holidays. The pattern appears very slanted to the downside. If you...
What we see today isn't a move, so it must be pattern. I have a feeling this could happen - see red. Alternatively its a pullback and it will fall - see yellow. There is a double bottom on the daily, but I'm hesitant to say the bear trend is fully done yet. So I'm bearish borderline neutral. UPDATE: US Thanksgiving Weekend screws the markets.
Apart from the initial drop today, the news had a pretty unspectacular effect on price. Therefore I suspect if EURUSD were to fall it will be tomorrow morning, end of week/month. If price breaks below 1.24550, price may continue to fall ahead of any news.
USDCAD Continuing on in our existing Long trade, only difference is I have substantially reduce my target down to 33 - I missed the start of the move as I fell asleep. There might be a fake out to the upside at the top of the pennant, however price should fall as indicated on the above chart. UPDATE: Changed my Long position TP to 24. Target price roughly...
EURUSD to initiate it's next drop of around 220 pips within 8-15 hours. I'm not currently entered as I suspect price might fakeout topside before shooting down. If so I may be able to catch the trade at its peak, otherwise 50 pips should be enough to handle any northside fakes (use your own judgement for SL). There are a number of EU news reports released...
USDCAD Long UPDATE: Target changed to 38 pips. The reason for this change is that price may form into a pennant on the balance line. UPDATE #2: I didn't place this trade, was asleep, I got in 15 pips or so later, so reducing my TP to 24 pips now. Target price: 1.1275 UPDATE #3: Long position hit TP for +24 pips.
Revised USDCAD Reversal Pattern. Not having a great day, I have been right on both my trades but my timing has been off. I could do with a nice 40 pip win please. UPDATE: Trade closed for +1.4 pips. This feels like a Bear Trap at the central balance line. I'm out for now. Have I just closed prematurely? I'm so impulsive today. I'm jumping back in for 15 pips....