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Euro / U.S. Dollar
Long
Updated

Possible 200+ Pip Long

1 024
The recent capitulation looks like a false breakdown on heavy volume. DXY GLD GDX
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See previous short.
Short to Year pivot
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Inverse H/S measured move target calc: thepatternsite.com/hsb.html
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First profit point at 1.1685 at the Weekly CAM R3 and Month pivot. On deck. snapshot
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Closed 1/3 @ 1.1685.
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94.00- 94.10 seems to be a likely DXY target. We busted the rising channel today snapshot
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Could see a throwback to retest the inverse H/S neckline near 1.1635. Happens about half the time for these types of pattern trades. We'll see.
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Next stage in this trade as it unfolds... plenty of positions to take along the way! I am not sure if Camarilla S4 Daily (circled in yellow) holds today after the 4.2% GDP numbers. We may come down to backtest the top of the H/S, which is not uncommon. snapshot
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1.1620 is coming on this backtest. Getting ready with some buy limits.
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snapshot
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s3.amazonaws.com/tradingview/snapshots/d/DkWwyJvA.png
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Heavy volume here on 15m as the descending (dotted) channel was broken to the downside. This invalidates the impulse idea above. We are now just below the H/S neckline. snapshot
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Not liking how far it came down below the neckline. We may go all the way for the daily ATR stop below. Congrats shorts today especially on AUD. snapshot
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Started getting in heavier long with this tag on the daily ATR trailing stop. Perfect bounce off that and the 1HR 200 period BBs. snapshot
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My initial longs were small and not great, average price is now a little less than 1.1600.
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Wave 3 underway. snapshot
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Seasonality underway starting first week of September.
GU Seasonality: imgur.com/a/207mh3Q
EU Seasonality: imgur.com/a/elAU7rA
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Range break this morning, we may finally go the rest of the way to the June high.
mortdiggiddy
Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
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Head and ShouldersTrend Analysis

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Head and ShouldersTrend Analysis
mortdiggiddy
Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.