On its way to the target at 34.65Elliott Wave 5 seems to be very accurate. I expect some consolidation around this level before resuming the uptrend.
USDTHB trade ideas
Wave 5 to 34.65It looks quite a real possibility to hit 34.65 and correct from there back to 32.20 to 31.80 as per Elliot Wave. Clear impulse waves pattern
Monthly IHNS Looking to Continue off a Double Bottom BreakoutThis is a weekly continuation entry to a much longer term bullish trade on the monthly for this pair that can be found in the related ideas tab
Critical levelWe are currently in a very critical area with plenty of resistances, specially the black long term trendline that comes from all time high.
After hitting the first pullback target at 32.2 I was expecting a minor push from the USD followed by a further correction to 31.8 area or at least a retest of the previous bottom (32.2). Instead price broke 32.90 resistance and went straight to the red resistance trendline.
Elliott wave theory suggests that next would be 36 with the fifth and last impulse wave (5).
From the two possibilities drawn on this chart I would say that odds of breaking out the trendline now are quite high (70%).
Fundamentally speaking seems to be backing as well the USD movement after the DXY went above 93 as well.
Another possible scenario is to pullback a little bit to gain further strength and demand to create an inverted Head and Shoulder pattern to reach the next target at 36.
At this level always be very careful and make sure you trade wisely and protected, either with SL or by hedging partially or totally your positions.
possible recovery of the Thai Baht before the big punchI think the Thai Baht will strengthen a little bit against the USD, reaching the 31.800 area or at least a retest of 32.200 before another leg up of the USD.
As mentioned several times in my forex charts, I am expecting the USD the strengthen against most pairs and lead the global economic recovery worldwide.
32.9ish has proven to be a small resistance so far for bulls.
Cheers.
USDTHB should reach 33 THBUSDTHB is in an uptrend.
No bearish divergent.
The blue up-slope median line is doing the job.
Possible scenario on USD THBSee the purple path drawn. I'm expecting price to move similar to that before the next big move of the USD.
Reasons behind my idea are that USD is now retracing against most pairs and then with new FED policy and stimulus could have a major impact in favor of the greenback.
Chockdee fellow traders :)
Another awesome short CALL on USD THBIt went straight to the target at 32.200. Still some chances of further fall to 31.800. Possible bounce at this level before resuming the downtrend.
Cheers.
Correction most likely to continue to 32.20 - 31.80So far the call has been quite accurate. Let's see if we can hit the 50% fibonacci correction around 31.200 to 31.800.
USD THB half way of correctionMore or less it's going to my target. Let's see what happens in the next session.
USDTHB Long Term (Double opportunities Read Description)USDTHB reached a monthly resistance in where price has rejected multiple times. At the same time, it is important to notice how it broke a daily downtrend that it had going on for weeks. Buying opportunities can't be taken at the current level, however, possible shorts opportunities could be taken as soon as price starts shifting market structure on lower timeframes. When price reaches the support area, short positions must be closed and we can start to look for long opportunities in order to trade with the higher timeframe structure.
I do like this pair a lot because of its long constant trends and minimal consolidation, which provides plenty of opportunities and a more relaxed trading experience for swing traders.
RESUMED Idea: Currently looking for shorts as long as a long term pullback it is highly likely to occur. Shorts cannot be opened until smaller timeframe changes structure to bearish. Looking to close shorts and open longs when price reaches the support area as overall higher timeframe (Weekly and Monthly) are bullish. This is a long term/ swing trade.
ENJOY and Good Luck on your trading.
Another great call on USD THBNice profit so far shorting at 33.45. Expecting a correction between 32.200 to 31.850.
Let's see. Cheers.
inverted HS pattern completedI was expecting a rally since I opened longs at 29.90 but I think it's time now for some correction.
I ran the rally but I did miss the inverted pattern that would have made me more confident on the run.
Let's see where the correction leads us but somewhere between 32,50 to 32,60 would be ideal.
Cheers
Another target achievedJust few pips away to retest the previous high and then a correction to 32.60 area.
Rode this rally from 29.90 :)
Pips away to open SHORTSAnother great call on this pair. Just few pips away to hit an important resistance level.
USD THB, target nearly achievedJust few pips more to reach the target and to pause/consolidate/correct at that level.
USD THB :: slowly heading to the targetStill holding LONGS since 29.90, great profit so far and quite an easy call this time.
USDTHB : Bullish trade ideaM/W/D are all bullish
Last week created a bullish FVG
This week, Daily created an OB+
We plan to trade a 1H OB+ within that Daily OB+
USD THB :: further upside expectedSelf explanatory chart. Currently heading to test EMA 200 on weekly chart.
USDTHB 30.8x targetThat is the scenario I'm considering to take my positions. So far it was a great call since opening longs at 29.9x.
