Possible June Outlook to SHORT UJ
Updated
I like using some Fib Time Lines for Outlooks on currency pairs from weeks to months out. It is scary how they sometimes hit perfectly on time.
Currently I am in a SHORT, but my TP is at 108.50 and then we can see if this outlook will end up playing out during the rest of the month.
Currently I am in a SHORT, but my TP is at 108.50 and then we can see if this outlook will end up playing out during the rest of the month.
Note
If this newly arrived 4 hour candle can stay at this level or lower we can expect to have a nice pull back.I am however unsure how much upside there could be. This Idea overall may or may not follow through. Plenty of support at 109.30.
s3.amazonaws.com/tradingview/snapshots/x/x1lbvEJE.png
Note
New week.. Looking for confirmation of further downside to complete this idea. Started the market opening with -50 pips. Yeah I once again jumped into my position too early.Trade closed manually
The SHORT I had been holding from Friday was closed out with like +2 pips.In light with the strongly expected US rate rise I believe the 109.50 Supertrend Level has held and we only go UP from here.
Note
As always... Price Action is king. After the recent US CPI came out and the big dip on UJ... could we fall below the 109.50 level if the FED decides not to raise rates due to all this negative economy information?Note
Looking at the main Idea chart at the top on the Daily shows us entering in to the Fibonacci Time zone . I am expecting to see a move in price direction to the DOWN side. I will be looking to enter in to a SHORT trade soon.Trade active
I got a SHORT ENTRY signal on the 15m jsut before the drop and didn't get this posted before the first candle dropped...SHORT @ 110.85
STOP @ 111.00
TP1 @ 110.32
TP2 @ 110.10
Trade closed: stop reached
:(
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