Time at mode gives me a strong downtrend signal for this pair on the daily. The elections caused price to take a massive dive, after which we had a good long trade setup, which I posted here and hit targets, although it took a long time to arrive to it.
Now, I think it's pretty clear that the pair will resume its downward trayectory towards a potential retest of the 6m uptrend's mode at 1.51399. For the time being, aim to capture the path that the daily trend signal's offering, and if short, trail stops using the 10 period MA on chart. If you didn't enter yet, you can short at the open with a stop above the blue line, which gives you a 3.8:1 trade already.
Good luck,
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코멘트
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Nice daily candle today.
코멘트
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We can place a scale in after the daily close.
액티브 트레이드
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코멘트
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Beautiful.
코멘트
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Monitor price action, downtrend might fail signaling a long trade.
코멘트
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Fundamentals changed, it's possible to see uptrend continuation. We have a clear W bottom, and a failed downtrend signal, since price crossed back above 2.89821. No trade is safe right now, we'd need to study it more closely, perhaps wait for the Fed meeting on the 30th.
Feel free to post your own outlook if you have one mate.
Thanks!
Timing_is_key
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Not this pair but I have one lining up for a possible trend change atm on the USDJPY will post under your other chart.....Targets like you said are difficult to the downside due to the parabolic move worth a shot with a tight stop.