Advanced trading. - page 6
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Euro Recap
Once MACD pattern will start to show on dailies, Target is 1.3077. We will run to catch for 1500 pips on that trade. But not yet.
Did you note current rebound? 1.8000 is top psychological level. Set your short orders below.
And that orders have collected near 300 pips in less than two days. We could choose as the next target 1.7600 where a heavy zone of support starts.
Sorry to post weekly charts but there is no good one pic in a small TF.
If you didn't set your orders at 1.8000, MACD pattern has appeared two times on H1. See pic.
It's time to run with the Euro.
H4 Stochastic is going to cross down, that allow us to wait the best moment on H1 and set our triggers on M15.
Dailies shows the figure of the MACD pattern.
Gerald Appel developed MACD thinking on weeklies. A weekly cross means a powerful trade come, but for us that we don't have a lot of money and time. Appel focuses on his book and the MACD crossing the signal line. As you can see, the pattern (negative cross below zero lines or inverse) setup on timeframes like H1/4 is higly predictive. Pay attention that is like to count Elliot waves.
Once exited from our positions reaching the 1.4400 level we could set our short orders below 1.4300
FYI. We have another MACD pattern on Kiwi. Target is 0.6600, profit is 700 pips.
Another pattern wit Aussie without a current entry point, M15 and H1 are overshoot. Just wait a little cos dailies are still stronger.
Natural target in 0.7676, 600 pips below.
And that orders have collected near 300 pips in less than two days. We could choose as the next target 1.7600 where a heavy zone of support starts.
And the level was broken finally. But our target was hit two days later with another 160 pips catch without not too much work
.
We had a M15 MACD pattern late on last afternoon where bears decided to break the level.
H4 is forming a good pattern, stochastic already pointed the coming fall.
Dailies shows a good MACD angle with separation between MACD and Signal line (remember first posts). Momentum is still strong, be a bear should be our choice.
And weekly, well, only 500 pips to achieve our big target
It's time to run with the Euro.
H4 Stochastic is going to cross down, that allow us to wait the best moment on H1 and set our triggers on M15.
Dailies shows the figure of the MACD pattern.
Once exited from our positions reaching the 1.4400 level we could set our short orders below 1.4300Ok, that was 250 pips before if we traded the first choice and 50 pips today if we only had set our orders below 1.4300.
H4 shows the typical MACD pattern anticipated by the stochastic.
On weeklies our next stop is near 1.3850. Price is now hitting the 50% fibo speed line. But dailies started below. See second picture. Also see new MACD separation.
M15 shows a perfect MACD pattern there when the day overing.
Remember: this timeframe is our trigger.
I've I just took this "Polaroid" from Aussie by two things.
First is the action/reaction method to set our targets on daily trades. See the up/down move is equal.
Second because where MACD signal is not clear at all stoch will come to help. See divergence and the stoch pattern.
Recap
We have a interesting week open. Almost any currency started the week with a GAP.
After the big downtrend on the last weeks this means a lot of confusion in the markets. Some traders will be afraid of this situation and will close their trades. Price will go up as some kind of correction but the main fundamental situation remains strong.
Aussie: GAP is almost closed. However H4 Stochastic needs to cross down again to give us some confidence to reenter our shorts. H1 Stochastic is OS and MACD is above zero line (more bullish than bearish). This is not the best situation to get some trades. Below Pivot we will be on a preferable move.
Cable GAP is closed, and situation is almost like Aussie, however H4 stochastic have crossed but again, H1 MACD does not look good and Stochastic is OS.
Sell orders below twin peak low.