First, a warm up with some following the fact charts:
GBPCHF gemstone MACDiamond.
USDJPY partially shaped busted wedge
First, a warm up with some following the fact charts:
GBPCHF gemstone MACDiamond.
USDJPY partially shaped busted wedge
Was waiting for a diamond to make the right hand side and I overlooked it. Ultimately I think this is the way it was supposed to look like:
Now if that was a fictitious gemstone on GBPUSD, then the question is whether that is a gemstone that is legit as well? Some similarity of this diamond on the right hand side.
The ideal hand side of the diamond could have been looked at this way:Originally Posted by ;
4 touches on a rising TL on EUR/USD. I'd love to market the rest of the trendline, however, the daily range will be greater than 100 pips by the time it becomes broken (if it happens now ), so there is no dependable loion for a stop. I could make use of an abrupt stop, but that is not as appealing as a stop outside the day's range. For some reason I think that we may have a false break, or even a retrace to the TL once it gets broken. Let us wait and see.Originally Posted by ;
Support EURJPY. I wonder how crazy is to sell the break? The day's range is too big. I could sell using a stop above an intraday high but I have to wait until an proper high is formed. I might also only sell with a fixed space stop but I have mixed feelings about it. However, most likely it wont be busted today and perhaps I will get a better loion for a halt.
First order for your day: Selling EURCHF @ 1.3388, cease - 1.344 (intraday high), TP - 1.31.
The profit target is based on a divergence on H6. It's a non standard time-frame, but my view is that there will always be a divergence happening on some time-frame. The branch into H1 H4 D1 and is artificial anyway.
The div is in fact pointing to 1.307, but 1.31 is a nicer number.
Also there was a small break on the third egy of the lower border, but everything else seems good enough so I'm willing to take a bet.