The assortment of right shoulder formations is showing on the above chart. The FED move should take market higher in Leg-A to 0.90/0.9060 in a Leg/A. Note the flag formation (marked wedge) in the current market eruption. Buy , stops 0.8550 (to avoid volatility) on FOMC day, and take targets 0.90/0.9030 -Wednesday Night (Powel conference). Profitable Trading Summerset
The coming zigzag upwards will show as a shoulder targeting 0.9235 Profitable Trading Summerset
Longer term the Dollar Swiss could be doing a trending zigzag down to 0.80 levels in the next leg of the financial / banking crisis. (keep in mind the financial crisis has been under pinning a strong CHF against the USD since the credit crash of 2008. Short term however, with the FED meeting coming up, there would be resurgence of Dollar strength to form upward...
It is now possible to long market into the inverted H&S showing. Long market & into retraction back into right shoulder <141.20> Targets same @ 143.9 - 145 Stops 120 pts from entry <140> Profitable Trading
Entries long @ 140.5/7. < Stop 138.70 > Target (T1) @ 143.9 (Wednesday / Powel) Target (T2) @ 145 (Friday / Ueda - BOJ) Profitable Trading Summerset
There is an opportunity for a bounce in USDJPY from daily lows today & tomorrow to a wave-B top <143.9>, or a wave- top <146>,on the trigger (green arrow on momentum) shown on the chart above. The could be fundamentally spurred higher by Mr. Powel's press conference (Wed 26/7), and the BOJ's ultra easing policies getting confirmed on their meeting on...
Best entries are (1/2) @ shoulder level <0.8960> and (1/2) @ head level (0.9060). Stop 120 pts higher from entries. Target 0.8660. (300 & 400 pts from entries). Profitable Trading Summerset
SNB is increasing rates by 25 pts today, accompanied by a presser. There is dual -ve momentum triggers on the Daily (shown) and 4Hr time frames. Break down in the neckline shown on daily chart could commence today. Long term Targets are 0.8660 & 0.8550 Profitable Trading Summerset
The current market is long with a target @ 1.1120 and stop 1.0920. Entry is a market entry. Profitable Trading Summerset
Eurodollar is dual positive momentum on the 1 & 4HR frames, and will therefore surprise to the upside as high as 1.1150. Where it becomes a sell candidate on completion of Wave-B (yellow). Should the Market retract before attaining 1.1150, swing buy entries can be taken <1.08-1.09> Wave-C (yellow). to 1.1260 targets Profitable Trading Summerset
Longer term, the divergence between FED & BOJ is taking Dollar Yen to 146/48, allowing multiple long entries to these levels. Profitable Trading Summerset
The next up leg in the Dollar Yen has commenced, fundamentally supported by Mr. Powel's testimony for further rate increases "necessary" towards year end, and starkly contrasting with Mr. Ueda confirmation of continuation in BOJ's ultra easing policies the day before. Entry @ Market.Stop140.9. Target 143.15 Profitable Trading
The Flag on the daily frame is a completed wedge on the 15min frame. Buy Mrk, stop 1.2635 (120 pts). Target 1.2950 / 3000 Profitable Trading
There is a Flag Formation aligned to the candle advance on the daily frame, The target is 1.2973, Fundamentally the BOE could surprise & raise 50 pts today. Profitable Trading Summerset
Today Bailey speaks. Prepare to buy S2 on 15min frame, only on a dual momentum trigger on 5x15 min frames. Sell positions by limit orders at 1.2560 & 1.26 Profitable Trading Summerset
The motive rise from 1.18 is segregated on the 1HR chart above. The expected "shoulder" correction is labeled A-B-C (green),in a speculative wedge formation. SWING / POSITIONS :- Sell Leg (B-Green) <1.2560/80> to target Leg (C-green) bottom @ 1.2340 / 1.2290. Compile longs in Leg (C-green) "inverted shoulder" level, to holds & break >market high. Profitable...
Currently undergoing a correction / retraction. The daily chart above displays the secular inverted head & multiple shoulders forming the current market bottom / support. The chart shows a continuous running plot of positive degree (3+4) momentum. The conclusion, therefore is the current retraction in sterling dollar is a shoulder formation between <2340-2270>...
A Trigger has materialized on the 4HR now, to trade on. Buy market <0.8960> stops <0.8830>. Immediate target 0.9150, then 0.9280. There is potential to see 0.9360, before fall back to do a right shoulder. Profitable Trading Summerset