Technical Templates

[grantyboy]

The old motto: if in doubt stay out springs to mind whenever uncertainty or hesitancy begins to cloud your judgement!

Most of the pairs that I follow have been oscillating in tight ranges with no clear direction, conflicting signals or very slowly reversing against the overall bias so thanks for the validation of what I've been thinking this week Jack. I'm keeping close tabs on EURAUD and AUDUSD which are both approaching previous zones of interest and will await the news this evening to see if either get the jump start for the next phase of activity in the primary direction.

[zilly]

Most of the pairs that I follow have been oscillating in tight ranges with no clear direction, conflicting signals or very slowly reversing against the overall bias so thanks for the validation of what I've been thinking this week Jack.

I echo his advice grantyboy.

It's these types of situations that test your mettle & patience!
Most of the one-way directional moves of previous weeks/months on a lot of the trendy pairs consistently referenced here are taking a breather and/or consolidating.

As Sarah said earlier in the week, there's a bit of intraday value to be had from one or two of the majors if you can access those moves, if not then it's a case of waiting patiently until they rotate back into their previous trends or begin establishing counter trend technical set up potential.

[jcpfx]

The old (trending) faithful's are still in play & continuing to offer high probability opportunities, with USDCAD kicked back into line last week courtesy of the FOMC chatter & follow through price action.

The pullback reaction (bid & offer) levels are very clear & visible on all 4 pairs so will help to gauge continued momentum strength & individual timeframe entry/risk preference.

Anyone else looking for a long entry this morning off of yesterday's high print?

- Main flip zone holding (3950s/4025) > was this the "self explanatory area" that Kyle was talking about?
- 1H trending up
- o/n price broke y'd high and pulled back without violating 1H trend

[visualxray]

Anyone else looking for a long entry this morning off of yesterday's high print?

Not me, & I doubt anyone else will be today jcp.
It's month & quarter end positioning into today's NY cut & London fixing which can quite often be very difficult to read.

If one or two of these pairs attract sufficient volumes into the close & engage their dominant themes then the price action will still be evident as the markets open & deal early next week.

[kipper]

Anyone else looking for a long entry this morning off of yesterday's high print?
1H trending up
o/n price broke y'd high and pulled back without violating 1H trend

Technically it's playing ball, but I don't usually open any fresh bets on double book squaring days jcp.
Month & quarter end today. I've only been playing intraday this week & will wait to see how the land lies next week.

Good luck if you decide to participate!

[jcpfx]

Anyone else looking for a long entry this morning off of yesterday's high print?
1H trending up
o/n price broke y'd high and pulled back without violating 1H trend

Technically it's playing ball, but I don't usually open any fresh bets on double book squaring days jcp.
Month & quarter end today. I've only been playing intraday this week & will wait to see how the land lies next week.

Good luck if you decide to participate!

Thanks guys for the support!

VisualXray, I agree totally that the market environment isn't the best today. But no fear, if I told you the amount I've got in the market, you'd laugh

To Kipper, I'm glad that you agree to EurAud "playing ball technically". I got in on the break of 1.4100 just after 9.15 CET (5min 1-2-3 as I see it, as close to y'd high as possible), SL 1.4070 (below y'd high) and 1st target back at o/n highs.

To finally be understanding this structure is reall comforting

[jcpfx]

And that's me out @ 1.4150, for a 1.6:1 bet. If, having understood the structure, most trades play out like this one, it would be great

So thanks again for the support & for the insight

[midgely88]

To finally be understanding this structure is reall comforting
And that's me out @ 1.4150, for a 1.6:1 bet. If most trades play out like this one, it would be great

Well, for what it's worth that's typical of the type of technical set up I adopt, which is simply reflective of what's been advised & recommended on the thread.
I certainly don't see any obvious problems in identifying the background or foreground info.

It would be nice if they all slotted in perfectly & returned a handsome profit, but unfortunately even the best laid plans go awry.
However, if you stick to adopting the type of high probability template on the rest of your trades as you have on this one you'll put the odds a little more firmly in your favour each time you trigger your trades.

[jcpfx]

Short week, with reduced participation..I've taken it really easy and am only taking the really best setups possible.

I took the early london break of UsdCad o/n highs at 1.0526 with a stop at 1.0495 and took a 1:1 reward on it this afternoon.
I took the UsdJpy upon the pullback between 11 and 12 CET entering at 99.77 with a stop at 99.58 and got nearly 3:1 RR off of that.

I was also looking at EurJpy but after it pulled back below 130.20s I let it go because it wasn't looking good. Afterwards, I saw of course that
the recent lows held, giving a hook to play off of which would have been another excellent trade.

I was wondering if anyone has a different view on EurJpy or how you analyzed it this morning.

Anyone get a piece of the (slow) action today?

[speedbump]

I've preferred to play Yen via the major (USDJPY) rather than the crosses the past few days. The movement has been way smoother & less jerky, especially this morning again if you compare the pullback action on EURJPY to the shallow continuation benaviour on USDJPY, but that's just my view & preference.