AUDJPY

Have banked some longs from lower in the diagonal but still await a thrust up.

Dow

Still looks like a flat retracement into the sell zone of bolly band, half trend cycle line and pivot, with momentum cluster looking primed to rip. Faded into this rise and looking for 14400 ish.

Dow

To breakeven with this now - lets see where it takes us.

AUDJPY

As far as I can tell, (and I really am doubting my sanity with this pair!!) the 'b' in 'C' has also taken the form of a diagonal, pushing the 25day regression channel to the right. A break out could really be something as the coiling has been never ending and there must be stops galore to feed it.

DOW

I am going to put the expanding diagonal on my wish list here: can count it anyway I want of course, but into the sell zone in a 3 waver. If the count is right, that should be a lovely 5th down to the bottom.

Dow

Gone short at same place as last night (glad I banked!!). Might be an expanding diagonal or triangle but shorting into 60min bolly band, R1 and Half Trend line with a momentum cluster that suggests that the down trend should persist.

USDCAD

Not far away from buy zone now, if of course it sticks. Shorts are off and looking for long play in due course.

USDCAD

Moved to breakeven with stop now. Targeting lower parallel line or anywhere close. Given this is the number 1 strengths pairing at the moment, I am obviously looking to buy down there somewhere but for now, it has got to get there and create its 50 day low.

Currency Strengths Analysis 7.00am

USD (20) GBP (17) JPY (13) AUD (10) EUR (8) CHF (7) CAD (5). Strongest to weakest pairings are therefore: BUY USDCAD, USDCHF, GBPCHF, GBPCAD. However, most importantly buy at the right place and in my terminolgy that is the confluence of the half trend line, lower 60minute bollinger band, a daily pivot line with momentum cluster nesting and finally in a due cyclic phasing low. For the moment 3 are overbought for my liking but interestingly GBPCHF has come up on a relative strength basis whilst actually being in a sell mode regarding the trend line stack: that is, it is currently in sell mode. But looking at the shorter term charts and it may be picking up that a retracement may be coming to an end. I'll still wait on this but worth keeping an eye on.

USDCAD

Another bite of the cherry on shorting USDCAD's strenth down to the Half Trend Line in 'c' leg.

AUDJPY

Lots of opportunities to bank the spikes but I think we shall see the 'c' in 'C' now, given the lows continue to stay in place, so not too keen on banking this next one up. Whether this turns out to be a wave 4 overall or A up, is another matter for later in the week.

Dow

That will do me for tonight.

Dow

Moved to break even - lets see if she keeps tumbling into the close.

Dow

Not quite back tp the half trend line but daily pivot may provide cover. Having a go short from here.

USDCAD

Lovely. Shorts closed.

GBPJPY

From earlier, the Strengths Analysis had highlighted this pair as one of the top four. It went deeper than the 'half trend line' but still provided an excellent bounce if you had followed it down. The daily pivots and 60min bolly band usually provides keen support or resistance lines back into trend and works well with the trend line band.

USDCAD

Breaching diagonal - stops in at breakeven and looking for price to push on towards the daily pivot.

AUDJPY

Starting to look a bit better this. Longs will be banked at top bolly band perimeter/dashed lines.

USDCAD

Short is looking good here. Will move to breakeven with stop on break of diagonal and target moved to the lower bolly band at the daily pivot.

USDCAD

Sold USDCAD for 1/4 allocation at 1.0543 with rolling half trend line as target