Timeframe
EURUSD 4HR Aproaching resistance. Buy at breakout.Alternative scenario: If price rejects then we will look for a short opportunity.
CADJPY - MONTHLY ANALYSISThis is a monthly,weekly timeframe analysis of CADJPY.I think this is correcting now and will be correcting for some time then will make an up move to 92.00,93.00 area. From where it can either continue the impulse up and if it does and then forms a corrective structure above that area then it is likely to reach about 115-116.00 and from there I think it will move down.But if from the 92-93.00 area it starts to fall down impulsively and then forms a corrective structure to sell, I think this pair will be crashing down towards 50-60 territory.
DXY: USD LongThe Dollar has made new highs and with 2017 being a potential year for more rate hikes there are really no sign to not long the Dollar. I believe the dollar will make its way to test the trendline on the weekyl/monthly time frame. I would wait for a pull back into previous resistance/now support to enter long.
Multi time frame StochasticThe idea for this is quite simple and no rocket science necessary to make decisions. This is to help you (hopefully) to anticipate instead of participate.
The thick yellow line is the default Stochastic (14,3,3); the shades of blue are lower time frame lines while the shades of red are higher.
When the 17 strands form a rope it's time for action, buy or sell. When the rope disentangles be cautious and/or exit.
Another good place to act is where the strands form angles (peaks & valleys) but not necessarily a nice rope yet. Check that you are in the overbought/oversold areas when actioning this.
When the rope forms a fishnet, beware, you will get caught! Hopefully you are out by then and waiting for the next peak/valley/rope to form.
You can also change the time frame to differ from that of the chart's time frame if you want to study or test strategies.
Use this with other indicators (Bollinger Bands, MA's) to help your decision making.
Hope this helps.
usdcad (short w/ time frame)usdcad,
chart with a time ext.
just about a 1.272 time ext of the AB time duration to the BD completion.
Analysis taken on basis of Scott Carney vol 1, pg 208 (Time considerations)
FORECAST USDJPYShort, Entry point at red trendline break.
Stop: 1 pip over the previous relative max.
Targets:
- 102.8 first target
- 102.27 sec. target
www.fxstreet.com
Contrast Weekly vs Daily Timeframe OBV and RSI indicate a possible bounce to the upside. Keep eye on intraday for continuation downward or break to the upside. If you wanna play both sides a straddle or strangle option strategy two or three months out might be ideal. For a one sided trade check OTM (out-the-money) contracts and the Vol in the options contracts relative to the strike price before purchase - 220 and 125 or 200 and 140 strike price might be ideal. Also don't wait to long to purchases options contract, because as directional price movement becomes more apparent and as Implied Volatility creeps up the more expensive the options become.
AUDCAD Bullish 0.98 targetI believe it is possible for this pair to reach my target of 0.98, i was waiting for a closing candle on the major SR line and think this trend will now continue.
Additional Time Frame overlay
Different time frames can be selected via controls
study("Add TimeFrame", shorttitle="TF Layer", overlay=true)
res = input("240", type=resolution)
o = security(tickerid, res, open)
h = security(tickerid, res, high)
l = security(tickerid, res, low)
c = security(tickerid, res, close)
col = c >= o ? lime : red
plotcandle(o,h,l,c, color=col)
