AudUsd on the 4hr, heading towards bottom bolly then to next fib level
AudUsd on the 5min. Figuring out how price action moves. Even on short term as the 5min if the overall trend is short and price is deteriorating, levels of entry will be at any consolidation for a short and entry points for a long will be a uptrend crossing above the 75ma and above the last consolidation. If the trend has been sharp a change in direction will come with the convergence of the MAs - usually on off seesion hours. Looking at Aud I know China is the main trading partner and China is slowing down, rate cuts of 75 bb coming but held off next week(hence the rise over the last couple days), the daily trend continues to repect the 75ma.
This is a risky trade but this is the setup - however UCad is too strong and will only pull back before advancing
Nice move down with swiss - now lets see if it will break the 75ma on the 15min, which will promote more price rises with aussie kiwi and euro
Careful Swiss may not be breaking low - it very well may retouch low of box and break the roof on topside - be careful
Good pipping everybody. Here is alook at UsdCad on the 1 min with the rounding bottom again and trendline it needs to break above. Love pattern and trend plays
Here is the setup when price action enters the bottom indicator - I look for it to hit the top indicator - things to remember if price action is slow, I will get time decay where the top indicator falls below original target. In this case on the 1hr there is no fibs or 75ma in its way, so the target on euro is 1.2480.
1min euro. Remember swiss still has not fallen below the 75ma on the 15min and there is price decay in aussie and kiwi. This is simply a breakout play that may happen
Short hooray. Okay so still above the 75ma on the 5min. Needs to break above trendline and stay above trendline(jeesh) - target the 200ma to start. Still remember swiss price is not deteriorating - which means aussie kiwi and euro moving down
NzdUsd on the 12hr. Okay wow, nice move up on the currency pairs. So what is the strength of the move. Looking at the NzdUsd may give some light on that. Looking for this pair to break above the top trendline.
UsdChf is the barometer of the currency pairs. On the same 12hr, price action is below the 75ma with an eye to the bottom bolly at .9436.
Euro, okay. The only way to figure these massive bars is to put fibs to them. If the green indicator breaks below the upper fib, price action generally will touch the lower fib. In this type of a move I would not want the price to retrace past the 61% fib at 1.2545 the target should be an equal response to the down move. However I would take it fib for fib above the high - therefore 23% above high is 1.2674.
Looking at UsdCad action today. Sometimes looking back gives better insight how to play price action. Rounding top, breaks 75ma, failed slope(less then 45 degrees), price consolidations that are short entry points.
