TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
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Main trading strategy focus stil $DXY
We are still bearish on USD and now we have another weekly bearish candle below 34 SMA and above 100 SMA so the index DXY is squeezed and there is a great possibility of downside break next week and we are preparing for that. Range is narrow and we need a push down below 95 for a complete break of the triangle formed from Aug-Sept 2016. So all our strategy is still USD bearish based and invalidation is only with a close and follow through above 96.70.
Our EURUSD second long position reached the target on Thursday and we have the first one from much lower level in profit and we are keeping it for a break upside which we expect to happen in the pair. Two triangles, long term wedge has narrowed and now there is only a break possibility. See clearly the squeeze on chart never before has been compressed like this. Watching 1.11560 and 1.13340 for direction higher or lower. It is just sitting on a 200 SMA as DXY like a mirror look.Important notice—- no further positions until we have a resolution over this level and we will lock our second position with a stop in profit or a break even
We are still watching USDSEK because it is in good position to use it for fading strength in USD. It is just rejected from Pitchfork uptrend line 8.6000 level and breaking below 8.4300 of it would lead to a steep fall.Important notice—- possibly to take short on Sunday/Monday.
We have a strong bearish case in USDNOK with a break of strong resistances 8.0300 and 7.9800. Important notice—- Must be watched on intraday price action for joining the downtrend.
Gold is again up to a wedge border which needs to be broken and we are waiting for it to get heavy long. 1349 is now that break out level which are we waiting for. We will enter long on a break and not retest. This week’s test of support again doesn’t change the view.Important notice—- possibly to take long on Sunday/Monday.
YEN pairs we are looking at NZDJPY and USDJPY for a possibly excellent trades look our special report HERE.
NZDUSD triangle has formed on a Daily chart and is coming to it’s end. There is a great possibility of a long trade here with some nice RR. Important notice—- possibly to take short on Sunday/Monday
We are watching still AUDCHF for an explosive next move. In the middle of the range and we could look for a price action valid signal for longs to extended move to 0.7550.Important notice—- considering going long on Friday candle.
GBPCAD reached median line 1.7000 level and we see a space for bearish move to a range low 1.6600 and we will look for intraday price action signals. This is connected with our USDCAD trade and we could add another one in USDCAD and possibly here in GBPCAD.Important notice—- To take short on Sunday/Monday trading session on price action.
To improve is to change; to be perfect is to change often. Winston Churchill
—-HAVE A GOOD TRADES! KEEP THE GOOD WORK UP!—-