TESTING some charts - Going off the MFI for an over night 25 pip scalp. This works better on GBP USD as key price levels are easy to mark so i am going to see if the same signals here to help make a decision when the MFI signals.
Still trialing this idea, using MFI to signal my trades coupled with heavy economic sanctions that will also be felt at home. Going for the same 25 pip short and trail a stop once TP1 is hit. Let me know if you have been following this idea over the past few trades i have posted.
Its hard to determine if the UKRAINE war has a larger effect on the Pound than it does on the Dollar. So i am continuing my MFI test strategy. Lets see if this plays out the same as my previous two.
While waiting out for the GBPUSD, i decided to test the same strat here. Same principles as before with the final #trigger# being the MFI hitting its top end. Remember this is a mid term scalp aiming to hit 25 pips before the market decides its trend direction.
Its been a while but im back. Looking for 25 pip grab and hoping the PMI news does not disrupt the market too much. Going purely off the MFI and testing its strength as an indicator.
GBPUSD the pound is continuing in its trend direction. Unless some majoy event occurs i see the pound growing.
We have finally broke out and looking strong for a NZD sell off
Although the GBP moving average is showing strong, so is the USD and the USD index still bullish from last night. GBP is now over bought and needs a pull back before it breaks through the next key level. IF we break out above 1.2160 the short term trend remains your friend *bullish Watch the GBP moving average sellers sat at 1.4436
Look out for a possible break in the next hour for a good short. Watch out for strong dollar moves as this will affect the JPY
Signs of NZD currency slow down. Seen a strong resistance at the .618 showing no sign of breaking after yesterdays retracement.
Aiming for a slow move to the downside with US Dollar Index showing positive moves to the upside and the British Pound Index Turning bearish on the Open. There are economic factors that may accelerate the moves.
There are a few factors that indicate a big EUR sell off in the next few weeks. A break in the current resistance with little support in the way for reversal and a declining economic strength will be in favour of the USD to push the EUR further to the short side.
Already had a retest at 111.80. Potential retrace to 111.40 to pick up more bull momentum. That being said DXY is in a key sell off zone. Look out for> a positive outcome expected on the Japan current account which could see a break through on the 111.40. Set a second take TP
Expecting the GBP to fall and test 1.27 thoughts?
TVC:USOIL Are we going to see a bounce from the 1d support or will we see it punch through to test the 64 low?