DollarsNSense

DollarsNSense

It was ALL happening when you look at yesterday's EUR/USD Chart but setups were few and far between. The only REAL opportunity came with a DP double cross that followed the MP test I thought was a good prospect. I placed the order which netted a BE trade before the explosion took place and EUR/USD landed in another Zipcode. Thus far today, the pair continued...

DollarsNSense

EUR/USD didn't quite make the Low of 1.1625 I thought was a good launch pad yesterday, but launch it did, off 1.1650. Today so far, price has tested and bounced off both MP & DP and you could be forgiven for thinking the boat has sailed.....maybe it has. I'd rather be thinking there'll be Resistance around 1.1745, soon after a higher high is achieved but it might...

DollarsNSense

If you're an Asia Session trader, you could well be Long EUR/USD already today, after a very nice test of 1.1540. This level represents the bottom of the range the pair has traded in since May. Save of course, the breakout Short that occurred earlier this month. I see this as a very nice level for the Bulls to assert their intentions and drive the pair back...

DollarsNSense

well the pullback simply didn't happen yesterday, preventing any entry on EUR/USD. Not that uncommon when one team (Bulls in this case) gets a sniff after a run against them and certainly, they HAVE a sniff. Now 270 pips strong, this momentum shift (read potential reversal), is looking serious. That said, the confluence of 1.1600 and Resistance Trendline seemed to...

DollarsNSense

The Bears took control of the FTSE today. I'm a little perturbed of the exact driver but it seems to be a combination of Sterling strength after positive noises from the Brexit negotiating table and negative Trade War rhetoric. Either way this is not a place to buy and hold. We are likely to see decent bounces to the upside on the way down and I will take some...

DollarsNSense

HAPPY NEW TRADING WEEK - what a difference a weekend makes. If you are a Friday and Monday trader, you should be riding the EUR/USD rally and be doing very well from a classic reversal. With the reversal of trend underway, my focus is on locating rest points for the long suffering Bulls. I believe we are at one of the pause points now and will be looking for a...

DollarsNSense

Anyone following me will know how much I love to trade the FTSE 100 and just like all experienced trades I have a directional bias. My bias is long, I find trades to the upside much easier to spot and manage. Knowing this about myself helps give me an edge. It doesn't mean I am unable to spot a shorting opportunity however and the FTSE is looking more and more...

DollarsNSense

The Bitcoin trade that I wrote up last week is ever so slightly in Profit and with the Inverted Head and shoulders now in it's maturity it won't be long before the conclusion of the opportunity starts to play out. Now I'd like to shift focus to Ripple (XRP) I have been long extolled the virtues of XRP by my Brother who has been hammering home the benefits of it...

DollarsNSense

I am now in this trade and looking for the Buying momentum to continue and get some profit in the bank. My entry bar didn't work out to be the best area in the end, but anyone looking at entry bars as their trading range will end up losing a lot of trades. The inverted Head and Shoulders is unformed and therefore potentially non existent. If it does form however,...

DollarsNSense

It doesn't always work out with such preciseness from any projection, but I am really pleased that the FTSE 100 has played out to perfection. This is my take profit area and even though there may well be a little bit more room to the upside, we are in a minor down trend and I'd like to see that take another dip before I buy and Hold. Seller will likely come in to...

DollarsNSense

Looking for longs in the FTSE has been my mission for quite sometime. I am always really comfortable as the Market sells off, as I have the knowledge to let me know a new Buying opportunity exists. This now however is not the case on the FTSE. Price has blasted through levels it needed to hold to promote another climb to lofty heights. Now all we have is a small...

DollarsNSense

Obviously we need to use the correct Money management, but we do have the buy signal we need to get us in to this trade from here and aim for the first target!

DollarsNSense

We should be now looking at this clear buying opportunity on Bitcoin. All the longer Analysis has been done and this is the moment we have been waiting for to enter in at a reduced risk. It's much better to enter light at this point with nice wide stops and then look to add if the price picks up. The 1 hr chart should give us more clarity on entry.

DollarsNSense

We are approaching the time to take a first speculative trade on the GBP/AUD. We are in the area that I would like to start to buy in. My idea would be to go in light and see if this 4hr trend line can hold. It's a lot earlier that I would have liked, but going in light here and waiting to see if CPI helps move the trade in to further profit is a great way to get...

DollarsNSense

The fact the Pound hasn't managed to catch a Bid since Mark Carney raised interest rates is relatively unusual. Today's Average Wage number played a part in the Pound have a decent day and tomorrow's number will play another part in whether we have a trade to take. The daily bar ended up closing as a Spinning Top, indicative with an indecisive market. I'd quite...

DollarsNSense

The Pound has been the much maligned currency of the last 2 years. The UK economy bombed from the fasted growing in the G-7 to the weakest and Brexit negotiations continue to favour the either European Union or a No Deal scenario. All this being said the UK economy isn't quite as weak as the currency suggests. For this reason I am always on the look out for a good...

DollarsNSense

We've seen the Monthly chart and now we've seen the Daily chart. Neither are promoting the long side just yet. It's going to be off the back of the 4hr that I will be interested in initiating longs and as was the case yesterday regardless of our Inverted Head and Shoulders disappearing, we are still waiting for the Trend-line to break.

DollarsNSense

Yesterday we looked at the level of support that exists on the Monthly timeframe for Bitcoin. The inverted Head and shoulders I was looking at on the 4hr chart has broken down, but nothing has really changed. There are no longs we can initiate until it breaks through and retests the trend line. This gives us an advantage as Bitcoin shorts can continue to sell...