In this chart I'm showing the current time at mode trend as well as key levels obtained from the FOMC meetings and minutes release dates. You can see how you can navigate the price action with great accuracy if paying attention to these.
Right now, I'll focus on selling rallies against the key levels above, any rally is a sell, but if not offered, we can look for lower timeframe trend signals as well. Until price tests the low volume support below, I'd discard any kind of bullish reaction.
I'll be trading this pair extensively, it's setting up for some excellent trade setups in the coming weeks. Cheers,
Ivan Labrie.
Komen
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We didn't manage to retest the FOMC key level, we're about to test the first barrier.
Komen
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Interesting reaction to the lowest volume level on chart (a gap) Now, we have pending downside and plenty of time, but keep in mind these yearly levels:
Komen
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Clearly something's brewing...USDJPY up considerably after hitting my target, almost. Oil vs gold spread at record levels, S&P500/Gold ratio chart touched the monthly Bollinger Bands lower band...
Komen
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We could attempt a short soon, it's not a bad addition to my currency/stocks/commodities portfolio.
Komen
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Downtrend might resume, I'm long DJIA but looking to short *jpy pairs.
Dagangan aktif
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Reshorted USDJPY and also GBPJPY. I think we'll see 105-106, based on the time at mode signals on chart, and the reaction to the new FOMC minutes key level.
Komen
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Had covered shorts and reopened today. Same pair selection, same targets.
Thanks, the S&P500 didn't reach the projected rally target in time, according to a terminal pattern that was present in the chart, this made Tim suspicious of the equities rally.
Upon closer inspection I detected an 8h chart time at mode downtrend, the weekly bar tells a story right now, went high after the open, then turned down and will close as a bear bar.
tomcat00
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aren't DJIA + USD/JPY positively correlated?
IvanLabrie
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Yes and no, not all the time.
tomcat00
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Ok, thanks - keep up the good work!
dingying85
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maybe short gold here is good?
IvanLabrie
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Yes, I'd use a stop at 1318.
I shorted at 1258, and went long oil as a long term pair trade.