joeyvalentino

joeyvalentino

1.35 is obviously a super important level and as of right now GBP is showing signs of a potential bearish reversal. in addition I suspect that DXY is approaching a correction level @90. BXY is at a key monthly resistance level. This correlation outlook lines up perfectly for some mid to long term short moves on GBPUSD as the technical also support this hypothesis.

joeyvalentino

Short @19 if it extends to the bearish channel resistance so long as price hasnt begun its 5 wave. During Golds last correction from 2011 to 2015 off a parabolic bullish run, gold pulled back to a 61.8% fib level from its true swing high to swing low, this was after heavy memoentum where it re entered into another parabolic bull run in 2019. This correction...

joeyvalentino

the chart says it all... manage risk appropriately

joeyvalentino

Bearish Outlook on the Dollar at least in the mid term. looking for a correction play near the 50% retracement zone on the most recent swing low / swing high...

joeyvalentino

siomple setups, 61.8% retracement from most rececnt swing high to swing low is in confluence with the trendline resistance in addition to most recent high... price wicked so far, looking to take low risk high reward entry to most recent lows and next level of support.

joeyvalentino

AXY had a nice bearish move finish playing out this past week or so, it is is now at range support. i am bearish this move, but the risk to reward on this quick bear rally shares nice confluence with currency correlation and market structure. my skeptical side is telling me to be careful with JPY as it has reached a channel support where it could starting pumping...

joeyvalentino

my favorite pair for short in the mid to long term is NZD... the index pattern sets up on a nice Head n shoulders... will be playing currency pairs based off this setup for NZD

joeyvalentino

Called this reversal weeks ago, after a really solid retracement that almost came back up to 1.185, momentum failed and formed a descending channel. entering on this small bear rally because it low risk and moderate to high reward... A lower low was formed previously to the most recent lower high clearly indicating that EURUSD is in a healthy bearish trend. TP1...

joeyvalentino

i like that the newly formed resistance trendline is in nice confluence with the 61.8% fib retracement from the most recent swing hi to low. in addition this is also in confluence with a clear supply and demand zone that price does repond to. tp1 is neckline support. tp2 is a nice -61.8% fib extension that is confluence with 67 market level that has been well...

joeyvalentino

Wanted to post this because i think its such a cool setup though the best spot to enter on at right shoulder support already occurred. impulse wave #5 ready to form. tp1 on on -62.8% extension fib which shares good confluence with the relevant structure support just below it. tp2 would be the complete extension of the 5 impulse wave. in confluence with .68 market level.

joeyvalentino

high probability entry at the supply zone that serves as the right shoulder of the pattern. in good confluence with 61.8% retracement level. TP1 level is a very clear and distinct area of demand at the base of the neckline. where a rebound is likely to happen if the setup does not break out immediately. TP2: catch the breakout as price heads for what could...

joeyvalentino

Looking to go long perhaps right around 114.375 Area to most recent highs and perhaps to 118 ambitiously. the rebound off the pullback would be a nice area to get in because of confluence with market support. aligned with the 38.2 fib the support for the ascending channel. healthy confluence with the relative strength indicator which reflects that the trend is...

joeyvalentino

I really like this setup because not only do i believe AUD is going to weaken a bit but i also believe USD may have held support and we could see a small rally, if not a bullish shift in momentum. clean channel bounce creating a lower high after a new lower low was created. tp1 first level of support tp2 61.8 fib tp3 2nd level of support tp4 .7

joeyvalentino

overall AUDCHF is in a pretty strong downtrend on weekly and daily charts. .66 level is and attractive entry for a short position as it is in confluence with the 61.8% retracement and the descending trendline. i cant help but have short bias for AUD this week and CHF doesnt look like its going get weak. .9 lots with 17 pip stop loss. less than .5% risk on the...

joeyvalentino

Clear bearish momentum until USDCAD begins to bottom out. looking to short into that momentum on any bear rallies and buy once price bottoms out @1.3

joeyvalentino

After reversal structure was broken a new bullish channel formed as EURUSD Rallies with some bullish momentum. looking to use the ascending channel as a path to 1.19 where i believe EURUSD will begin to break down again if it cant break resistance. Go Long on the Pullback

joeyvalentino

Already in this trade short right aaround 71.2... There is divergence on the RSI as price is facing major rejections at around 71.2... now it looks like it is painting the rest of the true reversal pattern which could be a head n shoulders type of pattern. if this trade fails i would simply to look to get back in at around 71.2... this is a classic signature...

joeyvalentino

looking for price to rally a little bit, i think overall AUD is beginning to enter a bearish reversal move... Obviously i wish i had entered right around 78 but because i missed that entry point this is the setup that i believe to be the next best entry. if the head n shoulders pattern works out obviously this creates the reversal with the new lower high.