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Short GBPJPYBrexit and Covid 2.0. No real need to say much else. However, we are in a Daily wave 4-5 of an Elliott wave. We should see a little pullback and a bigger drop. COT data also major short the GBP and net long JPY. There were key turning points in the Cycle indicator on the 5th, 10th and 15th - next is the 23rd, to the 29th. Let's see where next. Suprised if it gets to 137.85 now (low volume node) given the other data. Just waiting for UK Govt to come out with a crazy statement and GBP will sink. Good luck. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
3
GBPUSD Short MaybeLooking at the average Elliott wave cycle we are in a downward trend for GU overall. The pullback was a bit extreme but actually only to the 618. GBP strength in this situation makes almost no sense. Brexit & Covid 2.0 with Boris n friends running the show. All that's happening right now is the institutional investors are gathering liquidity. COT Data shows an 84% bias in trading the pound over USD and that is split with a 59% net short position. OVerall waiting for confirmation on smaller Time frames. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
NCL Industries (Long Term Strategy)Hi Everyone, I have come across this nice parabolic Curve Step formation in NCL Industries Limited, this is the most highly prized and sought after pattern. This kind of patterns give quick rewards. As per the Chart, it has formed the first 2 bases in the Parabolic curve. Usually Parabolic curves will form 4 bases and we sell on the 4th base. Base 1 formed from - 56 - 77 Base 2 formed from - 77 - 110 Base 3 to be formed from - 110 - 148 Base 4 is the sell point - so we need to keep a sell target of about 148-150 Technical set up looking good along with nice accumulation in the OBV. We are going long on this share with a target of 145-150 in the long term. Investor Strategy: Buy the dip with NCL industries with a long term target of 148-150 in three to six months Disclaimer: This is an education view not for financial advice, if you are enjoying my analysis please follow me for more update and please like and comment :) Thanks !
NSE:NCLINDLong
by skiranp
DXY - Scenario 1 - Further Decline If Stimulus Is AgreedGood morning traders, All eyes are on the US stimulus negotiations taking place as we speak. We all know a stimulus package is on its way, it is just a matter of when and how large. If the Democrats and Republicans reach an agreement prior to the elections the USD is primed to fall lower. This is a big IF. There is a large gap between the two proposals, and agreeing on a package prior to the elections might not be the best move for the Democrats. It would make sense for them to hold off until Joe Biden becomes president, providing him with ammunition to re-inflate the US stock markets. News coming from the US suggests Nanci Pelosi is possibly looking at a rug pull, putting a brake on the negotiations. This is yet to be confirmed. If she does a rug pull the USD will most likely break to the upside of the negative trendline. However, on the chance a deal is reached or if the market anticipates a deal being reached in the near future, this scenario will possibly play out heading into the elections. This possible wave count is yet to complete wave 3 on the larger degree. A break below the 3rd minor wave would provide the green light for a sell opportunity. If you have any thoughts or questions please let us know.
TVC:DXY
by Trading_Tony
ridethepig | AUD Market Commentary 2020.10.21🔸 AUDUSD - Market Commentary 2020.10.21 The following play is aiming for a test of 70c; after a very dovish RBA earlier in the week opening the window for negative rates, we have some more downside to play. Wellll done all those selling AUDCAD , AUDUSD and AUDCNH . Volatility is going to continue to expand as we enter into the elections which will weigh heavily on AUD and NZD to a lesser extent. The play towards 70c can be opened by a fresh zig-zag from sellers. Such a move should never be played without being aware where we are wrong and measuring with certain effectiveness the bang for our buck. The downside is made possible via USD finding a temporary bid for ultimate safe-haven flows. We must recognise the dollar as the reserve currency and give it credit where credit is due. For the technical flows, looking for an eventual test of 0.700x/0.699x while invalidation above comes with a closing basis through 0.711x. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
2
ridethepig | USDCNH into the elections📍 USDCNH into the elections Oct 2020 Markets are moving quickly. Sellers completed the third wave target at 6.629x as widely expected. The pullback we are tracking in wave 4 is now brilliant proof of a lust to expand even further down. In the 2020 macro chart, we are ahead of schedule and a healthy pullback into the elections, followed by an exchange lower seems like the pragmatic play. Of course if you are short from above you have nothing to do but continue to add on pullbacks, but for those wanting to get closer to the flows, a leg back towards 6.85x seems highly likely. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig
USDJPY Market Commentary - 21 Oct. 2020A lot of things going on right now. Buyers and sellers more stressed than ever. Bullish Dollar or Bearish Dollar? Stimulus or not? To be or not to be is the next question. USDJPY a clear path though. JPY seems to win the fight between the safe-havens as it usually does in volatile times. Buyers seemed to have faith in a bullish Dollar and this was apparent till 20 Oct. after they got crushed by bears on a triangle breakout. 105.xx got dominated afterwards. A retest would be a stupid move by buyers at this point because it's way too obvious that JPY bulls are serious. (see EURJPY) Most election speculations appear to be bullish for the Dollar, This belief is backed by factors like what policy the each of the election rivals is to apply or how investors feel safer by holding USD. On the technical side, price is performing an 1-2-3 bearish impulse move. The final target for bears appear to be the 104.00 big figure that lines up with the 161.8% extension of Wave 1 which was followed by Wave 2 that saw an end after the fakeout. For the time being, bears have the control of the price. Bulls are hidden in the bushes of 104.00 and are refilling their guns to snipe back to 105.00 After that, elections result will determine the next move...
Long
by GeorgeZii
1