RuckSack

RuckSack

Watching EURJPY for a longer term play anticipating a break of the consolidation zone. Price has been on a run since March 7th so there is potential for a small retracement in price below 134.700 before further continuation higher. That 134.700 level + 1 ATR would be a my stop position on a positive break of the range here too. Downside move stop would be ATR...

RuckSack

This tool allows you to highlight specific blocks of time which help to cut down noise in 24 hour markets such as Forex or Crypto. This can be very useful for spotting trends that occur during traditional market open and closing hours as traders look to enter or exit their main position for the day. The tool includes two user inputs, one for the pre market and one...

RuckSack

Had a great day yesterday so being cautious with entries this morning. Nothing immediately on the radar but there is a potential for a pullback on AUDUSD. GBPUSD is flying, had a sniper top entry yesterday (blog post review coming soon) so I'm anticipating more of a range top this time around. EURAUD is back near the lows which is interesting, could point...

RuckSack

Taking a long position on USDJPY, only got 1 fill at 103.700. Check out my blog RuckSack.medium.com

RuckSack

Looking for USDJPY to break down below 104. Price has been on quite a run recently so we must wait for a break. Also ADR30 is 50 pips so this may be a multi-day trade too. Check out my blog RuckSack.medium.com

RuckSack

Watching for a potential breakout and continuation here on EURUSD. 1.24000 Looks like a high traffic area that could pause price on the top side, so consider this TMP for the long. On the short I'd look for the range low, but there is arguably more downside potential here so I'd look to scale out a portion of the position here and see what the rest can get....

RuckSack

I'm looking for the consolidation to continue a little longer before taking an entry on the 30min TF. Usually the entry would come on the 5min but I don't like the volatility of the price action. Check out my blog RuckSack.medium.com

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If you can time the Dollar bottom you'll be in for a good month, as several USD pairs are at a pivotal point. The triangle here isn't perfect but it's about the best option for what I'd like to see. I'd be interested in how price acts around the 2018 low spike again, to see if we have some hard support. Check out my blog RuckSack.medium.com

RuckSack

USDJPY has been in steady free fall for a while now so timing a bottom is always fraught with danger. Recent price action has seen a more bullish stance but we have been failing to really break out above the DRL, even on some pretty significant volume. With this in mind I'll only be looking for a clean, unambiguous break outside the range. Check out my...

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This would be a counter trend play but we are reaching the top of the Daily Range High limit so it wouldn't be uncommon to see a pull back here at least. We would then be looking at a 2:1 trade at best with a 15 pip stop. This is somewhat limiting as we'd like to give it more room topside, but were trapped with the average DRH below which may pause any down...

RuckSack

Taking a long position on USDJPY after recent bearish price action showed signs of slowing. We then had a pause and hold around 103.300 which we're looking to play off for this move higher. Check out my blog RuckSack.medium.com

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After a sustained down trend I think we're starting to see the potential of a turn around. Given how price has consolidated at the 2018 spike low before breaching and consolidating again, this is a good turn around formation. In terms of a bullish play we'll either see a break back above the 2018 low and hold or we'll just get a bullish spike, so look for...

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Watching USDJPY as the capitulation increases in the market. Look at the low of September 2020 for a similar picture. Big, pronounced steps down before price finds a bottom. Looking at that Sept low I think you can put a trade plan together that includes adding to the position on a big bullish momentum candle. You'd need to be careful not to jump into anything...

RuckSack

Watching EURJPY very closely as it approaches the Daily Range High (DRH). You'll notice we've been pretty strong on that latest run up towards the DRH where as in the past we tended to stall out and reject before interacting with the level. My decision will be based on the intra-day price action to see how bulls and bears are able to move price around the...

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Anticipating a move lower on AUD after a sustained run that started Nov 2nd. The past few days has seen price start to top with some sideways consolidation showing buyers are hesitant to keep pushing prices higher. This also has the added benefit of allowing time to take profit for anyone who was long the past month. This latter factor may cause a trap top side...

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Watching the 5min triangle to see which way price may trend for the rest of the day. The 2018 Oct low is a key point for price as it's the most recent time we were back below here. Price will either regain the low or fail which will give us our direction. check out my blog rucksack.medium.com

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We've been in an uptrend for 7 sessions now so I'm watching as price fails at the daily range high. The 30 day ADR is 79 Pip and we've already moved 66 so there may be limited potential for a trade today. Is that a Daily H&S? It's not super clear but some traders may be considering this so a break and close above on the D chart could signify a larger run...

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Normally at point 6 I would be looking for the failure and opening a short position. Despite the 30min strong close the next two 5min candles would have tricked you into still opening the short due to the bearish volume profile that was similar to the failure at point 4. Read more at my blog rucksack.medium.com