Intra-day Analysis

The weekend is here so I thought we would go through price, find a trade and analyze price from an intra-day perspective tracking momentum through its transformations from the beginning of the pattern until we find our entry. Apart from the difference in pace between analysing price on the Daily timeframe to the 1hr or 15 min charts we also have a sharp contrast in the experience of watching price slowly update its patterns verse observing hundreds or thousands of hours of historical price data in a moment. The period of time observing in confusion, observing and not knowing what is going on is the largest majority of the experience. This is entirely opposite when analysing historical data as you will quickly, in a few minutes, scan through patterns until you acquire an understanding of what is going on. Don't assume you will know or understand what is happening when you are actively analysing price in real time. This experience only exists when analysing price from historical records.

Good Trading

Weekly Ideas

We're back after a taking a week off and jumping straight back into it. For our main pairs most ideas involve taking longs on the Dollar, which is trading in the direction of the current bullish trend that began on the 17th of September. The key areas for our main pairs are listed below with the direction of opportunity.

$/chf

Key area: 0.8000 providing support to price.

Opportunity: Longs & Shorts

£/dollar

Key area: 1.3300 to 1.3320

Opportunity: Longs

€/dollar

Key area: 1.1665 & 1.1590

Opportunity: Longs & Shorts at both

Aussie/dollar

Key Area: 0.6540 to 0.6560

Opportunity: Longs & Shorts

$/cad

Key Area: 1.3975

Opportunity: Longs only

Dollar/¥

Key Area: 151.60

Opportunity: Longs

Good Trading.

Chart Analysis

This week we're continuing with our chart analysis without indicators. Price on the US Index is telling for this week as a 50% pullback of the Wednesday and Thursday candles is expected to 97.82. This move is correlated across many main pairs all of which we will be watching closely. Keep in mind taking the same position on more than one pair exposes your account to unnecessary risk. The aussie might be forming a set of higher lows - this will require close observation. The yen looks like it could be turning around also, a move produced mostly from the US Dollar falling (currently). The cad is the most interesting pair with a more rare type of short trade we're looking to place at 1.4000 area after observing price interaction.

Good Trading.