Get started

Trades

DXYLooks like we are in the middle of wave 5 of the Elliott wave. It may take a while for this wave to "potentially" retrace to the previous low of wave 4 up to 38%, 61%, or 100%. I would love to see that. I personally believe that we are getting closer to peak inflation although there are other factors contributing to the dollar's strentgh. From last week's reading, we might have open lower than the close. I see strong wick rejection from last weeks candle and would like to see if the bears start to take control. Our K and D of the RSI have started a cross down from overbought position on the daily timeframe and has already started the momentum downwards on the weekly. The MacD is losing momentum on the 12 hour timeframe so even though it hasn't shown true weakness yet on the weekly or daily in regards to a true momentum shift, we may be a bit early on this. Let's see what happens! What do you think?
TVC:DXYShort
by Redimere_91
1
NZDUSDLooks like we are in the middle of a C wave of the Elliott wave. I want to see if this current wave (if valid) can reach the 61% or the 100% of wave B's high. Price jumped bullish at the double bottom located where the circle are. We may be a tad bit late to this trade. However, there is low sell volume on the current candle as we are also oversold on the RSI while making an attempt to cross up past the 20 level. Our Mac D zero line has crossed and may lose some momentum down the road. Let's see what happens! What do you think?
Long
by Redimere_91
GBPCADMight be looking at an expanding running flat correction wave here. Phase "1" may be a bit over extended but the pattern may still be valid. We also have strong support at this level and is in accumulation stage potentially. Maybe we can get between 38 to 61% of the most recent high at some point down the road. I might've got n a tad bit early as the RSI hasn't reached an oversold point just yet. However, should be interesting how this plays out. Stop loss is set regardless for risk management.
Long
by Redimere_91
EURGBPLooking for this reverse head and shoulders pattern to succeed. Daily Candle rejecting a resistance from Feb 7th. Trade is based off sentiment that the European central bank is still reducing net asset purchases and will wait until December meeting to raise rates. Any adjustments to the key ECB interest rates will take place some time after the end of the Governing Council’s net purchases under the APP and will be gradual. Monthly net purchases under the APP will amount to €40 billion in April, €30 billion in May and €20 billion in June. -March 10th Monetary Policy Meeting (European Central Bank) At its meeting ending on 16 March 2022, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.25 percentage points, to 0.75%. Given the current tightness of the labour market, continuing signs of robust domestic cost and price pressures, and the risk that those pressures will persist, the Committee judges that an increase in Bank Rate of 0.25 percentage points is warranted at this meeting. -March 17th Monetary Policy Meeting (Central Bank of England) sources: 1. www.ecb.europa.eu 2. www.bankofengland.co.uk
Short
by Redimere_91