Should we zig or zag? YES!NZDJPY has a few clean levels, I don't give a good gosh darn which way it goes, I'll take either one of these, a move lower should produce 200-300 pips and likewise a move up should be similar. We just need to get out of this channel/trend line area.
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Come on GBP Light My Fire (rally)GBPCHF is sometimes a quick mover and doesn't give a lot of time to think about it. For that I'm ready to trade a break, it's setting up for a nice move up into the weekly pivot, that's only about 100 pips but I don't kick 100 pips out of bed for eating crackers.
If this 1.2565 area doesn't hold, I'll get out pretty quickly, otherwise I'm holding onto 1.2670 for deal life!
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Simple break out for around 400 pipswe're watching GBPCAD for a simple break out, it was a very clean head and shoulders pattern, as that continues to consolidate it turns more into just a nice break out area.
A move above 1.7450 looks very interesting for a move into weekly and monthly pivots around 1.7800-50 area.
Small head and shoulders, quick 100 pips!This is a fast and furious 60 minute head and shoulders, I want to jump in at the break of the neckline at 79.30, targeting 78.30. JPY pairs can be squirrely!!
Grab 100 pips and go home happy!
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Bullish head and shoulders, 300 pips anyone?GBPCHF as well as most other GBP pairs, we are looking for some GBP bullish/short term movement.
We have a nice short term head and shoulders pattern on the 4 hour chart:
Neckline: 1.3160/70 area
Price projection: 1.3550
Rejection: below 1.2900 this is a no go
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Dollar index bull flagDXY/Dollar index is setting up a nice bull flag, movement above 96.70 is confirmation and should start the move up to 99.00. This is important because we are waiting for EURUSD to move down into 1.0900 and 1.0650 as well as USDCHF moving up to parity/1.00 level.
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CADJPY might be ready to show some love... Soon'ishWe have a pretty clean set up on CADJPY, a bit of a break out of current support should open this pair up to a 200+ pip move lower.
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EURJPY or EURUSD... which will it be?EURJPY has a very similar set up to EURUSD, I like both of them, maybe EURUSD a little more but I will trade both of these set ups.
I'll sell the break of the 1 hour trend line, target the weekly lows, keep stops above the weekly pivot (around 115.00).
It's a simple clean trade, it might sneak up in the middle of the night, be ready!
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Happy trading folks!
Possibly the most KEY level in gold in recent years!$1,180 in gold is super important, it's now a triple bottom and a break gives a potential run down to the long term 50% fib down at $1,085/$1,050 level. However if this level holds it could represent a major support and turning point for a rally up into the $1,400's and above. This should also trickle over to the USD pairs, especially EURUSD, AUDUSD, NZDUSD, USDCHF.