Context:
Weekly - Support zone @ 66.24/61.34
Daily - Trend line break; Retracement back to "First Red"/Window
1h - BOS; Gap as entry/stop range (Using the last pivot point as the max stop range since the gap is a bit tight)
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Main Target - Weekly Resistance @ 95.68
Breakeven stop @ 84.03
2/3s out @ 85.93 (Fin ext. 0.618)
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Expected RR (at...
Context:
Weekly - Support zone @ 40.65/38.74
Daily - Trend line break; Retracement back to Window
1h - BOS; Body block as entry/stop range
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Main Target - Pivot high @ 46.15
Breakeven stop @ 42.92
2/3s out @ 44.29 (Fin ext. 1.0, when 0.618 is near pivot, bump to 1.0)
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Expected RR (at full) 7.3
Context:
Weekly - Support zone @ 66.58/64.49
Daily - Trend line break; Retracement back to Window
1h - CHOCH; Body block used as entry/stop range
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Main Target - Weekly Resistance @ 71.79
Breakeven stop @ 69.74
2/3s out @ 70.00 (Fin ext. 0.414)
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Expected RR (at full) 4.38
Context:
Weekly - Support zone @ 16.06/80.12
Daily - Trend line (Compression) break; Retracement back to "Last Red" (on Choch)
1h - Choch (one bar); "First Red" as entry/stop range
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Main Target - Weekly Support @ 65.92
Breakeven stop @ 73.48
2/3s out @ 72.49 (Fin ext. 0.618)
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Expected RR (at full) 7.3
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Notes:
Reduced position size...
Context:
Weekly - Support zone @ 73.20/70.84
Daily - Trend line break; Retracement back to "First Red"
1h - CHOCH; Gap as entry/stop range (2x ATR as buffer)
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Main Target - Weekly Resistance @ 76.67
Breakeven stop @ 74.50
2/3s out @ 75.03 (Fin ext. 0.414)
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Expected RR (at full) 4.32
Context:
Weekly - Resistance Zone @116.71/134.68
Daily - Trend line breaks @ 2 points; Retracement back to "First Red"
1h - CHOCH structure with "Last Bar" as entry/stop range (2x ATR (near term) rounded as stop buffer)
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Main Target - Weekly Support Zone @ 87.58
Breakeven stop @ 97.85
2/3s Out @ 97.85 (Fib ext 0..618)
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Expected R (at full) 3.64
1h POI Entry at descending support line
-- This is a riskier trade because of the possible effects of current News, but when is that not the case.
-- 2nd Order Position defines my 2R Breakeven point to move my stop.
Notes on the CBO:
-- Skipped the CBO.
-- The approach to the CBO was concerning. It traded nearly to line (prior to News) then consolidated...
Possible scenarios:
If we get more of an additional push the CBO looks more desirable as an entry point. But, a sharper move up could find the POI, right above, it to be a better choice.
The CBO is much better (than the previous one) with a more defined V shape prior to formation as well as providing a POI of the lower shadows as well. (The other CBO, I had to...
CBO with trendline support.
-- CBO meets trendline.
-- CBOs require a COC retest entry (5m)
Few things to note:
-- GBP released News that is moving GBP pairs quite a bit.
-- Would have liked the CBO formation to have formed a bit more classically, but the trendline support helps.
-- There is an DBD right above it that.
AUDCAD has entered a RBR, with a retest of a near term trendline break as support.
-- Target is 1.00 on the Fib ext, well within bounds of the upper downtrend line
-- This is a continuation pattern. This formation requires a 5m COC (change of character) retest entry.
However, the upcoming Inflation numbers could nullify the trade entirely so watch out.
