We're just under 3xadr and could see the peak form soon. The long cycle played out very nice. While it is safe to trade both ways in level in 3, in this situation, the safe play to wait for the peak to officially lock signaling shorts. There is a bearish harmonic on the H4 but no official peak. Remember to always use the DXY to gauge price movement on EU. Timing...
Dear trading enthousiast, Maybe I am suffering from tunnel vision, or confirmation bias, but I see many trend lines converging to a ~6400/6500 target to the beginning of May (and a capitulation afterwards). Earlier I expected a pullback before reaching the top of the channel, but I think we won't see that happen (in fact, I don't think the bottom of the channel...
Yesterday's close gave us a locked peak. We can now look for entries long. We currently have a bullish H4 harmonic. There is an outside structure pointing short, but I believe the bigger the move will be long. Looks for possible traps through the 200 EMA on the M15. Use the dxy to gauge direction on EU. Happy Trading #reactdontpredict #thepowerof3s
I'm looking at Friday as a peak reset. The count on EU hasn't been easy lately. When in doubt, sometimes it's best to be patient until the direction is shown. I'm looking for EU to continue down for at least one more push down. It is possible price will push up and trap through the 50EMA before dropping. #thepowerof3s #reactdontpredict
Okay guys! My apologies for being MIA. Family first. My bias in long on EU. We saw some madness surrounding last weeks news but I am expecting EU to rise. We may see an opportunity for an entry during NY session. Maybe a trap through of the 50 EMA and rise from there but be cautious. There will be news. The daily is trending long and I'm also seeing a macro W on...
Sorry for not getting this up sooner. Yesterday we saw some whipsaw action during the news. This could also be considered a board clearing move by the market makers in an attempt to clear all buyer and selles to reset the books. This also created a reset and a macro W. The daily trending long. I am now expecting EU to continue to rise next week. Use the DXY to...
Last week we saw our MMM long cycle play out by TH. We had our peak put in for reversal short and are now looking for opportunities to sell. Remember the market moves in threes and to always use the DXY to gauge EU. #thepowerof3s #reactdontpredict
Yesterday we saw our L2 push on EU. Today I am expecting the cycle to continue with its L3 push long. Because we are in L2, be ready to trade both ways. L2 is also where resets are most common. Use the DXY to gauge the direction. #thepowerof3s #reactdontpredict
Per yesterdays close, the peak is officially locked and we can begin to look for opportunities long. There is the possibility that price could come back and text the peak which would put us in line with a mid-week reversal for wed. I'd be cautious with trading back toward the peak. The bigger grabs will be long.
So far it looks as if we got 3 addition pushes in L3 and trap though of a zone. Today's daily close will determine if we're ready to rev and begin to look for opportunities long. #thepowerof3s #reactdontpredict
EU finished the week as predicted. Congrats to anyone who took a piece of the action. -until next week #thepowerof3s
EU is starting to look more and more like a reset. Although the DXY is struggling to take out the weekly high, I am still looking for EU to continue to the downside. #thepowerof3s
The open of the month has significantly show bearish movement, despite everyone trying to push its way up trying to fill up the gap we initially saw at the beginning of May, it seems UJ is not quiet ready to make its way up. Let us see what the market plays out.
The rate cut always has an adverse effect on currencies strength. On May 07, the market was predicting a 0.25% rate cut from Reserve Bank of Australia. But the bank was not easy to cut its interest rate, but due to its tone of cutting it by next month price might fall. The dovish statement started a strong downtrend of 200+ pips. It consolidates over ten days...
Though NYSE:FIT was going within the channels & trendlines, and possible breakout in the next month, after the ER, expected is -.05, which is the period ending December 2018!! Looking at the discount Amazon gave for FITBIT products online has tremendously increased the sales volume. This ER is important! I shouldn't be as expected, it should exceed the...
Looking at the 4h chart of USDCHF, it’s pretty obvious that price has been in a consolidation of a quite a while, being traded into a range between 1.00100 and 0.98620. On Thursday price breached below the lowest level of the range in addition to the 0.98480 a key support level, better seen into the daily chart. In my books, this sudden spike to the down is a...
Picture perfect uptrend in USDJPY, with price making higher highs and higher lows in the daily chart, there is no question that we are bullish in this particular market. Price dropped in a sharp move starting from the 113.700 level taking out previous support 111.600. It’s not clear on how price is going to behave in the following days. What we want to see is...
Still in a downtrend, since price never managed to break above the last major swing lower high, what we do watch for is a selling opportunity in the EURUSD. Another key factor why I am bearish in EURUSD is that obvious stop run occurred at the 1.14730 level. Pay attention to how price spiked massively from the 1.13650 level breaching above previous resistance...