A short run through of some pairs I've been watching today. Some possible trade ideas coming around in the next few hours tonight if not perhaps tomorrow morning. Ill aim to update the themes outlined here later in the week to see how the gbp/usd and eur/usd pairs specifically developed.
Good trading.
The Dollar has fallen market open today pushing many pairs slightly off course. The possibility of change produces these opportunities we've spoken about today. Shorts and longs are possible here as this calculation takes place between the backwave from the 78.6 fib roughly and the latest wave of momentum.
Good Trading
Rotation as we've outlined can add probability or subtract. This nuance of subtraction surprisingly has never been directly recognized as significant. Immediately it follows that our use of probability s-waves when trading against a previously established trend or momentum s-waves when trading with a trend finds its circular reasoning. That we find momentum s-waves in a trend proves the integrity of the trend is intact; the probability of a continuation even if this particular s-wave fails remains significant. That we find probability s-waves when trends change reflects our uncertainty of when exactly the last attempts to continue the trend have finally ended. These two scenarios previously noted and traded are quite obviously understood simply from recognizing rotation can be added OR subtracted.
The stand out question that should always be asked is: should we be trading a probability s-wave (PSW) or a momentum s-wave (MSW)?
Good Trading.