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800ma

NZD/USD expanded flatI posted my daily wave analysis yesterday. Looks like it may sell down some more. If you sell it, then, if you can hedge, let some run when it's in profit in case it keeps going and then look for a buy setup. That way, if you got in the buy and it didn't go... You only loose partial profit on the sell. That's how I prefer to trade personally. But if you look at the daily bollinger bands and candles, it looks like it is making a flag. Refer to my daily chart. Looking for a daily candlestick to wick below mid band (20ma). But my focus is a longterm buy. May come from around the .6500 level.
by thillygoosth
GBP/USDI'm not messing with this just yet. But I would just like to point out that considering the dollar index is in that channel which can break and can make another shoulder up (possibly small), you may get some trade opportunities on Gbp/Usd. The price action it is making makes me think it may make a running flat, or even possibly a correction for a WXY type pattern. Simplified: The blue is 800MA. The red is 200MA. This is the 4hr chart. You may get a bounce or flat/zig zag between them, or at least an opportunity to get a stop in profit on a sell, or await a pattern for a running flat to buy. It's at the 1.236 extension, but I prefer to catch GU off a big spike out when it is chopping like that so be careful. The 1.618 level lines up with the 800MA, so if it were to shoot up to that level it should at least react I would think. It may make a little sell from right at this fib area but I ain't messing with it. This is more you guys that will be awake during London and you can see where it is at.
by thillygoosth
2
Eur/Gbp See that weekly price action?....I can never say for certain the exact moment a monster trade turns, all I know, is I pointed out the sell from the very tip (hopefully here depending where you are reading this) and I am convicted to take my chances and just let it run. This is because we did have a completed 5 wave, seem to still be in correction, and considering that a price action channel like that is the kind that when price breaks it can make a big move. I encourage you to throw on that TDI indicator, a 200MA and 800MA and look at the TDI on the Monthly chart (divergence and now turned down). Then scroll down through the time frames all the way to the 1hr looking at those MA's.
Short
by thillygoosth
CAD/CHF I'm shortI posted this before. I believe the correction to be completed and looking to take it down. You see the 1.618 level. the 1.236 extension, which is usually what this 7 swing hits, lines up with the 78% fib, so I would let some run to there, and then look for a long opportunity, which will be much more pips.... Those MA's are the 200 and 800 that it is below, as long as it stays below them, I will hold. I will even allow it to hit trend line before giving up on it, but I think it's ready.
Short
by thillygoosth