Looking to get long in EURUSD at two Buy levelsThoughts on potential up-move in the EURUSD. Please let me know your agreements/disagreements to this analysis. Happy trading!
Speed
USDCADWhile I could potentially see a bounce to the upside right now in the next couple hours, it would be a very aggressive move considering the strong move to the downside over the last couple days. I think I'll be better off waiting patiently for a new short signal.
Gold touching and bouncing off upper fib lineI don't think Gold will do much more this week in gains, unless it breaks out for another runaway profit run. Otherwise I would expect retracement down to at least 1266.
Short term bounce up, looking for shortAUDJPY short term bounce, looking for another shorting opportunity. The AUDJPY -1.24% is within multiple downward wedges on the Daily and H4 timeframes, giving power to a suspected longer downward move. I consider it continuing downward as long as it stays closed below the .0902 fib speed resistance line. I use the same lines on smaller timeframes to establish profit-taking follow-stops.
Fib Speed Resistance Fan StudyThis is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially tradable ideas:
1) Riding the new breakout and confirming when it's no longer valid
2) Anticipating a new breakout
(*Study only. I did not trade this chart)
