Channel switching in progress.....price is still within the Down Channel and will print a "W" pattern to shift into the upwards channel. This is a long term strategy....nice to know where price will go if the USD begins to strengthen for the next 6 months.
Here is my short term trade target. Supply Demand used along with classic "W" pattern. Pullback to the 0.5FIB is completed, Target is 4HR Supply Zone.
Hello everyone I have identified the channel down sequence (Part of a DROP/BASE/DROP) that will eventually materialize. When this does finish it's pattern, price will be below the 1.17800 institutional level and we will see if the large H&S pattern becomes active . See my other Trading Plan idea on this longer term move for the next two months!
Please see related AUDUSD idea before implementing this one.....
There is an inverse H&S pattern on the 4HR TF. This one makes all the sense with all the Powell jibber jabber.....then the larger AUD H&S pattern that will take a few months to complete will kick in. See that related idea as well so you can best set up your trades.
DXY moving as planned! Levels are on the chart to follow SHORT.
Trade Setup for this week on USDJPY
AUDUSD may retest support but overall the bullish trend reversal was confirmed with the double bottom.....lets see..
This trade is in-line with other USD pairs and DXY.....reference those setup as well but this is a nice trade.....also good as a reference for those who trade GOLD as AUDUSD correlates with the shiny yellow metal!
In case you were wondering why the USD took a downturn today after this news I can somewhat shed some light into what had happened. There were two components in play for the USD. The first one is the obvious miss on the unemployment rate. The other is the better than expected NFP numbers. In order to complete the pattern that has been identified on the DXY...
EURUSD when I was analyzing and setting up the Dual GANN Fans I noticed that the pattern that is actually printing is 60% of a large Triangle that a breakout will occur in the future....if so I can see where price can rise (if the USD falls again) and consolidate in this pattern until BREAKOUT occurs. My educated guess is around Sept/Oct timeframe in-line with a...
A bullish Gartley has been identified on EURUSD..... look for moves to give us a very nice sell setup.
Only activate TP1 at this time.....activate TP2 when TP1 is achieved....good luck!
Yes I am from New Jersey.....Bon Jovi country!!! Current Trade.....
Here is the crazy train.....a rough estimate but a neccessary evil pullback retracement then up again....
As long as there are no major Fundamental events to affect the technical path on my analysis. Looking at the DXY you can also correlate the path that EURUSD will also take (which is why I carefully analyze DXY). Based on this information you can keep an eye on DXY while ERUUSD play takes place over this weekend and into the beginning of next week. Please like...
Here is a way to grow your child's savings for college or to grow an account over a few years....possibilities are great with high rewards.
This is a 60-day view of where EURUSD may go....lines up with DXY Patterns on the D TF