We have some risk in the horizon coming from the US politics and next week we have GDP report from RBA and rates statement. Technically I have spotted an ABC reversal formation, that was impossible to trade on the breakout but we have today a new opportunity with this abc continuation. Also MACD crossing for a second time to the upside giving more clues. Target...
Very short term trade
By closing h4 bellow that trendline a sell signal is given, I'm targeting last downward pitchfork HML
This could be the top, maybe a quater top. FED next month expected to hike rates.
Dollar is forming a rising wedge, until a clear breakout appears, stay sidelines or scalp to the inside from the limits of the formation.
We have visited a parallel line on this monthly pitchfork and now we are pointing to the ML of the pitchfork. Resistance zone at 1.87 reachable in two-three months.
Monthly, weekly and Daily trendlines are all pointing to the same spot. I spect to see a explosive move when we get there.