We entered a short position on the USD/JPY, because we saw an impulsive move down on the daily chart followed by a correction (flag pattern), which was accompanied by significant RSI divergence suggesting that the correction had run out of steam. So we dropped down to the one hour chart and noticed that price action had just formed a double top near to the top of...
We bought the Canadian dollar and sold the Swiss Franc because price action was rejected off of a point where the 200 period SMA and an ascending trend line intersected on the daily chart and because the 0.382 level on our Fibonacci retracement tool also intersected at the same point, making this a rejection off of an area of high confluence. We also saw price...
We sold the Euro and bought the Pound because we saw the break of an ascending trend line on the daily chart and multiple retests of the 0.786 level on the Fibonacci retracement tool. We were below the 200 SMA line on the daily, the four hour, the one hour and the fifteen minute chart. We were below the 50% line on the RSI indicator on the daily, the four hour,...