TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
-For——- Trading desk
Main trading strategy focus stil $DXY
We are still bearish on USD and now we have much clearer situation then we had almost for months. Triangle range is from median Pitchfork channel line 97 to lower triangle and Pitchfork line 95.60. This levels should be on watch for breaking. We still see it lower in a range because of daily pin bar candle form 97 area with RSI reversing from the highs. We will build USD short positions to try to catch a top.
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. We don’t have direction yet but we see it now testing the 1.13000 upper wedge resistance on a possible USD weakness.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 8.6500 level and also Median line of LT Pitchfork channel. Breaking below 8.5100 would lead to a hard fall.Important notice—- possibly to take short with a small stop on Sunday/Monday.
We have a strong bearish case in USDNOK with a break of strong resistances 8.0300 and 7.9800 and now it is retesting important 8.1001 level and providing good opportunity to jump in shorts.Important notice—- Must be watched on intraday price action for joining the downtrend.
Gold has broken the wedge to downside and now sitting on a perfect support of 200 SMA and 38.2% Fibo 1260 level.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 we took a long position on a 100 SMA test with the potential of an upside move above 0.7260 level . 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 above 0.7550.Important notice—- decided to wait for a break of 0.7550 .
AUDNZD is reaching the confluence of Fibo 38.2% resistance in this retrace of short term downside. We are watching it for a short in a LT downtrend.Important notice—- considering going short on Sunday/Monday.
To improve is to change; to be perfect is to change often. Winston Churchill
—-HAVE A GOOD TRADES! KEEP THE GOOD WORK UP!—-