kfrivaldo

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Looking to short once the environment changes to bearish momentum

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COTR shows GBP is in negative territory plus adding more shorts, while USD shows positive Net Position and adding more Longs (over a period of 10weeks or more).

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The last 4 bullish candles are showing weakness as each bullish candles are getting smaller and smaller. A break below the recent support followed by retest of the support-turned-resistance, is a good entry to sell.

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if the correction is about to be end as the bearish pressure starts once again, best to short.

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possible rally after the pullback is completed

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NZDJPY short, ICI on D1? very similar to GBPJY. on D1, the correction is decelerating. If a lower high is form, the bearish momentum may start the next impulse to the downside?

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Waiting to form H&S on D1 and continuation of impulse

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Impulse

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Impulse

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Once W pattern reach 0.62332 area, there is high a probability that it will revisit the neckline. at 0.60000 area. 0.62332 area used to be a previous support and will likely become resistance. If the market shows bearish momentum at 0.62332 area, the target level will be at the neckline at 0.59750

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USDHUF is similar to USDTRY but this has 2 possible pattern. Either M pattern if it will have a deep retracement or a head and should pattern if the market starts to retrace towards 332.000.

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I checked the USDCNH and the price has drop away from the planned trade. However, the bullish impulse formed in W1 TF is still in tact as it retrace in 38.2 Fib retracement so I see a possible long position if there will be another rally on the upside Entry 7.08863 TP 7.1895 SL 7.04855

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strong selling momentum

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selling pressure continues.

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For the past couple of days, the pair is not able to close previous (2019) high, this has also formed a right should lower than the left should which suggest that the pair is losing its momentum on the upside. thirdly, the gap is something to watch out and is poised to close it.

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From a weekly perspective, the pair has plunge quite rapidly and last week was a pullback. If the pair can hold below 0.6239 then we can possibly see a continuation of the bearish trend.

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After a pullback, the pair is ripe for another drop in consideration of COTR's weak longs and strong shorts for NZD which suggests that NZD are getting weaker, while USD are also weak on their longs but their shorts are not increasing which suggest that the longs on USD are still in control.