Oct 10th, Saturday 10:16 am EST. Markets are closed which gives us time to look for potential set ups for this upcoming week.
We've found that EUR, AUD, CHF, GBP, NZD and CAD vs JPY have very similar price action on the 4 hour time frame specifically which could potentially mean long term these pairs will follow each other.
On Oct 9th @ around 8:45 am EST after CAD news was released on the 15 min time frame we saw beautiful entries for all of the above pairs for continuing buys using our FIBS, price hit the 23% and the 38% levels perfectly as they retraced temporarily.
The Ichimoku Cloud shows a trend heading upwards on the higher time frames, we simply use our fibs to catch perfect entries on the lower time frames to ride the wave longterm.
We've found that EUR, AUD, CHF, GBP, NZD and CAD vs JPY have very similar price action on the 4 hour time frame specifically which could potentially mean long term these pairs will follow each other.
On Oct 9th @ around 8:45 am EST after CAD news was released on the 15 min time frame we saw beautiful entries for all of the above pairs for continuing buys using our FIBS, price hit the 23% and the 38% levels perfectly as they retraced temporarily.
The Ichimoku Cloud shows a trend heading upwards on the higher time frames, we simply use our fibs to catch perfect entries on the lower time frames to ride the wave longterm.
Trade active
We have a buy position at price 76.085, we set up our FIBS on the 4 hour time frame and saw a nice level that could potentially be tested around the price we entered. Also have a buy limit at 75.934 and 75.763Trade closed: stop reached
Stop loss on all buy limits were reached. Currency strength meter shows the JPY is 2x stronger than AUD currently as of 1:21 pm EST. Price could potentially be setting a new trend to the down side,
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.