CHF/JPY is normally a pair to just stay the hack away from, But when I see a gartley, a pitchfork, and the 200 MA on weekly all converging, you have my attention. Especially when it made a corrective move up to it within the range of a possible larger corrective pattern with potential of breaking the low. Could have already taken some nice pips off the table on...
You have to be careful not go to heavy in Cad, but I was thinking... If Chf/Jpy was to go down, and CJ went up, cadchf would be a fast mover... I don't really like the look on it but it does have potential to be very nice buy. As of right now it is in buy, but these patterns can extend forever and we don't have actual confirmation on Cad pairs change of trend yet...
A little after the fact but looks like they want to break the low.
EN gave a beautiful buy setup on 1 hr and looks to be on the way up. Just keep in mind this consolidation can push down one more time forming a channel (pitchfork). Doesn't have to. That is the 200MA you may want to pay attention to. It did complete a smaller diagonal and can just go, but understand the possibilities.
I pointed out that sell from the top and the potential massiveness of it. However, considering this pattern and price action looks like we will get some further correction here. The point of this would be to take it to the high, or 50% or 618%. Even let some run maybe. If you sold from the top you should have already taken profit because of this price action, but...
CJ made a running triangle structure and is very corrective. There is extremely low volatility today and you have to be careful. The point of this trade is looking for it to make a larger correction and break the high, with the possibility of it creating larger structure within a larger channel and come down to trend line. It would depend how price moves.
I told you I don't like to trade market open. NZD/CHF retraced to the 618, and also the 1.618 extension, on either a C wave or wave 3. Based on the price action I would expect it to at least make a further correction. Made a small diagonal. I would look to trade it up to high as the equal length extension meets and 38% retracement right above it. It's possible you...
CJ looks like a buy. It may expand this channel by breaking the trend line and then come down to major trend line.... I will do a video. The price action within this correction makes me think we will get a more complex larger correction. It made a diagonal, broke and then formed this small consolidation, but protect profits if you get them and get out if it drives...
I don't trade market open, especially NFP week. I pointed out NAD/CAD as a very large potential longer term with exact entry from the top. I just want to point out that Ncad and AUD/CAD appear to be in buy setups, whether short term or what, however I don't trust anything I see this time of week. So, my point is, if you sold NCAD don't just hold it and let it go...
I don't trade market open. But considering xau/usd's behavior as it broke the high, I will be looking for sell setups to trade for the break of this diagonal, looking to take profit on half around that high I marked, and possibly leaving some to run for a much larger take.
I pointed this one out from the break of the high. Gchf and Echf look like they have begun downtrends. I will be looking to take gchf ultimately down to trend line, possibly further, but that depends on how it goes down.... No TP. Stop in profit or break even letting run, otherwise sell flags. I expect Echf to probably make a 23-38% retracement from this area or...
Here is another late markup after the fact because I couldn't post. My trade group got this entry. This was about scalping to high (that ray line) and then letting some run because this could have some real nice downside potential. But entries are important. I saw a sell setup.. I took it. It hasn't "Confirmed" down trend in place but just looks like an ending...
This was a perfect sell setup this morning. Potentially MASSIVE downside. The entry should have been upon breakout of smaller corrective structure. The overall structure and wave pattern tells me downside. I'd been waiting for Echf sell and EJ sell for a while. Those are the types of breakouts to just let run. GJ was also a beautiful channel breakout. I did a...
Echf came to my first take profit which is the pitchfork at 1.618 extension of wave 1. If you did sell this breakout nice. TP half and slide stop loss on rest to 50% of this wave. It can continue to just drive down, but if you see a corrective pattern like I have marked up (about) 38% of wave look to sell again to top of diagonal where I have marked. If it breaks...
GJ is basically doing the same exact 7 swing pattern you see here in the larger picture. As of right now it has extended enough within this smaller pattern and is on the way down. Personally I like to see them spike up into that zone and I have an alarm set at green line. So, it can come down from here but I need better confirmation being GJ personally speaking. I...