DXY: BITCOIN BTCUSD Potential weekend hedge for a falling DollarDXY: Dollar index and Bitcoin: The Dollar has closed for the weekend on its lows and below critical supports and will get hit again hard on Monday. It should fall a further 1.7% from here over the coming week or two. But there is one potential way to hedge this situation: it depends on Bitcoin breaking above 2460. If it does it should be worth following this weekend. Please see Bitcoin comment for more details
Weekend
USD BITCOIN: How to hedge against a falling $ this weekendDXY: Dollar Index The Dollar closed on its lows for the weekend and will likely be sold off heavily if not in Tokyo, in London come Monday. it should fall a further 1.7% from here.
But there could still be an opportunity this weekend to hedge - it depends on Bitcoin breaking above 2460. If it does, it should be worth following. Please see Bitcoin comment also.
USDCHF Trade Idea- Short Our strategy has three simple steps which are:
Step 1- Apply Indicators to Chart:
*20 Period SMA
*40 Period SMA
*80 Period SMA
Step 2- Identify the Trend. Price Action needs to break Moving Averages
Step 3- Wait for entire candle to close outside of Moving averages + Pull Back in Price Action + Continuation of Trend
**Broke below the moving averages.
**A full candle closed below the SMA lines
This trade has followed the criteria thus far.
let us know if you have any questions!
Reversal Setup?The Rules of this Trading Strategy Are:
Step One: Find the currency pair that is showing a high the last 50 candlesticks . (OR low depending on the trade)
Step Two: When we find 50 candle low, it needs to be coupled with RSI reading around 20 or lower. (If it’s a high it needs to be coupled with the RSI reading 80 or higher.)
Step Three: Wait for a second price (low candle) to close after the first one that we already identified.
Step Four: Wait for the price to head in the direction of the trade and wait for a candle to close above the first candle that you identified that was previous 50 candle low.
Step Five: Place Stop Loss-This strategy follows a 1 risk to 3 reward ratio entry/exit points.
Yesterday we had this idea but it bounced off of the trend line. We modified our entry for another potential sell area.
potential sell @1.88391
TP @ 1.86869
SL @ 1.88876
EURUSD week ahead overviewHello traders. Eur/usd overview for the week ahead.Currently price react of 61.8% Fibb level. We have well formed channel and head and shoulder pattern. From now on we looking at either respecting the second shoulder and 61.8% level , price breaking the channel and looking for Buy scalps on 15m chart along the way. The second scenario is if price does not respect the levels and continue on the downside breaking current low and formed trend line. From there on my plan is to start taking short scalps all the way down to 1.0350.
NZD/USD OUTLOOK LONGS FAVORABLE.NZD/USD OUTLOOK. NU finally broke above the 0.68736 level giving us a nice break retest this week. Added a fib retracing to the 78.60% level. Will be watching closely on market open for a pull back to execute a long to D2 extension (61.00%) level witch also is confluent with historical resistance 0.72315. If we do not see a pullback and my trading plan is not fulfilled we will simply stand aside and watch are prediction develop. Please check are Second post on NZD/USD Weekly for further confluences to the upside. Discipline is crucial stick to your plan.
AU - priming for a good short opportunityThis could be a good short opportunity down to 0.764-0.765. And assuming 0.77227 just became our new high (daily, 1hr), then could see that open the gates to fall down further.
Liking this for a short on Monday
Scalp opportunity:
TP1 0.764
Larger swing:
TP1 0.76164
TP2 0.757
TP3 0.74
EU - meh to the bottomRetracement is just a bit above 50% - that's OK in itself (fib is not a perfect science), so below 1.13800 I like this for a short. But there's some minor potential to see a little bit of growth towards 1.15 to burn some shorts before it dumps.
Will see how we go on Monday
If you wanted to be conservative, you could just wait for it to bounce off the bottom of the triangle as part of a support/resistance test, THEN short it - which would make entry around 1.12 on a retrace (pivot points, daily), with TP1 1.08 and TP2 1.05
Otherwise, enter below 1.138, TP1 1.15, TP2 1.10