MAJOR PAIRS ONLY, YOU CAN TEST WITH OTHER FORIEGN CURRENCIES
DOLLAR UP/FORIEGN CURRENCIES DOWN
DXY UP= EUR/USD, GBP/USD, NZD/USD DOWN
DXY DOWN= USD/JPY, USD/CHF, AUD/USD UP
POSSIBLE SCENARIOS
1. WEEKLY OPEN, PRICE MOVES HIGHER, STOP RUN ON PREVIOUS WEEK HIGH AND/OR PRICE CONTINUES TO MOVE HIGHER, RETRACE BACK INTO PREVIOUS WEEK HIGH AND MOVE HIGHER REACHING FOR SWING POINT 97.70 LEVEL.
2. WEEKLY OPEN, PRICE MOVES HIGHER, STOP RUN ON PREVIOUS WEEK HIGH AND/OR PRICE MOVES LOWER INTO DAILY BREAKER, I WILL HUNT FOR BULLISH PATTERNS ON EUR,GBP AND NZD TO GET LONG( SHORTS ON JPY, CHF AND AUD). I WILL ALLOW PRICE TO MOVE LOW UPTO DAILY EQUILIBRIUM. IF PRICE BREAKS AND CLOSES BELOW EQUILIBRIUM INTO THE RED BOX I WILL BE LOOKING TO CUT OF MY POSITION. BREAK AND CLOSE BELOW THE RED BOX, LONG SETUP NOT VALID.
WHY I BELIEVE THE DAILY BERAKER IS SIGNIFICANT?
1. NOTICE THE TOUCHES AROUND THIS AREA, I VIEW THIS AS A SUPPORT/RESISTANCE LEVEL.
2. NOTICE JAN 23RD BEARISH CANDLE, I SUSPECT THIS PRICE WAS PUSHED LOWER TO RUN STOPS ON RECENT HIGH (GREEN CHECK MARK), TRAPPED SELLERS
NEXT DAY A BIG BULLISH CANDLE RAN ALL THE SELLERS PROTECTIVE STOPS AND A MOVE LOWER FOR NEXT 5 DAYS.
3. I SEE THIS AREA AS BIG MONEY DEALING ZONE. MOST LIKELY THEY WILL RELOAD POSITION TO RUN PRICES HIGHER REACHING FOR 97.70 LEVEL.
DOLLAR UP/FORIEGN CURRENCIES DOWN
DXY UP= EUR/USD, GBP/USD, NZD/USD DOWN
DXY DOWN= USD/JPY, USD/CHF, AUD/USD UP
POSSIBLE SCENARIOS
1. WEEKLY OPEN, PRICE MOVES HIGHER, STOP RUN ON PREVIOUS WEEK HIGH AND/OR PRICE CONTINUES TO MOVE HIGHER, RETRACE BACK INTO PREVIOUS WEEK HIGH AND MOVE HIGHER REACHING FOR SWING POINT 97.70 LEVEL.
2. WEEKLY OPEN, PRICE MOVES HIGHER, STOP RUN ON PREVIOUS WEEK HIGH AND/OR PRICE MOVES LOWER INTO DAILY BREAKER, I WILL HUNT FOR BULLISH PATTERNS ON EUR,GBP AND NZD TO GET LONG( SHORTS ON JPY, CHF AND AUD). I WILL ALLOW PRICE TO MOVE LOW UPTO DAILY EQUILIBRIUM. IF PRICE BREAKS AND CLOSES BELOW EQUILIBRIUM INTO THE RED BOX I WILL BE LOOKING TO CUT OF MY POSITION. BREAK AND CLOSE BELOW THE RED BOX, LONG SETUP NOT VALID.
WHY I BELIEVE THE DAILY BERAKER IS SIGNIFICANT?
1. NOTICE THE TOUCHES AROUND THIS AREA, I VIEW THIS AS A SUPPORT/RESISTANCE LEVEL.
2. NOTICE JAN 23RD BEARISH CANDLE, I SUSPECT THIS PRICE WAS PUSHED LOWER TO RUN STOPS ON RECENT HIGH (GREEN CHECK MARK), TRAPPED SELLERS
NEXT DAY A BIG BULLISH CANDLE RAN ALL THE SELLERS PROTECTIVE STOPS AND A MOVE LOWER FOR NEXT 5 DAYS.
3. I SEE THIS AREA AS BIG MONEY DEALING ZONE. MOST LIKELY THEY WILL RELOAD POSITION TO RUN PRICES HIGHER REACHING FOR 97.70 LEVEL.