CXY
CADCHF FURTHER SHORTTravelling in a channel. Retracement needed to pink area before a final push down to touch the trend line channel bottom.
If price is able to reach the bottom of channel, I will also be looking at the possibility of buying there.
UC: Update on short signal (+36 pips)We're continuing to hold 100% of our short position. This trade was posted last week here on our tradingview profile. See linked charts (related ideas) below,
UC: Update on free signal given on 11.14We've cleared enough profit to move stop loss to entry so this is as of now a risk-free trade. Our first downside target remains 1.315 which is just over 100 pips. We're currently floating +38 pips and look for more downside price action in correlation with Oil potentially breaking 78$ a barrel. Four days of bullish price action were over with yesterday's bearish (engulfing) close. We're looking forward to more downside price action with this trade and will update to the channel when we have taken a partial profit.
USD/CAD Short SignalShort, Sell
USD/CAD
Entry: 1.32547
Stoploss: 1.329 (-36 pips)
Tp1: 1.315 (+107 pips)
Tp2: 1.3 (+259 pips)
11:07 am CST 11.14
CJ: Daily Update No entry yet for CJ. We'll be looking for the zone-colored green which is at the 127% extension of the current swing high-swing low and also at the 618% fib of the longer weekly swing low-swing high structure.
EUR/NZD HedgedLast night we closed our EN short and reversed our short term bias to long.
We're currently long, floating +70 pips in profit.
UC Daily Update: Neutral Until BreakWaiting patiently for a higher low around 1.32 for a possible long entry! Patience will be key! Looking like some really good trades are on the way!
With this specific setup, being dynamic and flexible to price action in either direction is key. Remaining neutral in a setup is essential to hitting any opportunity that will come our way this week.
Confluences for a long:
- Ascending trending line
- 4-hr and 1d uptrend
Confluences for a short:
- Potential for retracement at fib zone
- Monthly resistance of 1.33
- Weekly descending wedge
DXY: New ATH or a retracement lower? Nov. wk 3It's important to keep in mind previous price action when trying to assess both a currency pair and it's index at the same time. Let's not forget the freefall from the current all time highs through to 97, a drop of 2.5%.
After last weeks run up through both of our targets, we are now expecting a retracement within the current structure for the DXY. We expect one of the fibs to go inline with the monthly resistance level of 98.5 to provide us some nice targeted entries. Thus, our bias is neutral as there remains upside potential on the 4-hrly timeframe, where we can use the zones drawn in the chart to cororelate with our USD/xxx and xxx/USD based trades.
Looking at the weekly timeframe, we can see very choppy price action that continues to maintain it's bullish long term price action towards our target established back in May of 100.
DXY Nov. wk 1DXY, U.S. Dollar
This week we'll be looking to take advantage of a well defined and proven support zone for the U.S. dollar between 95 and 95.2.
Weekly upside target is 97.71, which was the high for 2018 for DXY.
