I forecasted USD JPY last week and will do the same next week so I preferred to choose another pair to show how we might think about next week markets, randomly I picked up the EUR/AUD.
Let’s get to the point
-Monthly chart: a down move been working for a while, the pair is inside the cloud now and expected to range, first Support will be the Span-A
-Weekly Chart: Smoothly following the trend provided by Ts and Ks.
-Daily Chart: Strong sell signal, also a state of pull back was ended @ Ks and the down move resumed.
-4Hrs Chart: signs of rejection from the cloud, if we managed to get a Strong signal this will add more weight to the down move.
-1Hr Chart: Price started to trade below the kumo , stable trading below the kumo will add more pressure and the down move will be able to resume .
this is all the story, very easy,timeless and I am now ready to short EURAUD next week if the scenario I am expecting continued , I’ll hold to this view.
will be looking for another pair if the price jumped over the 1Hr Kumo during the trade .
Feel free to ask about anything regarding this setup
Let’s get to the point
-Monthly chart: a down move been working for a while, the pair is inside the cloud now and expected to range, first Support will be the Span-A
-Weekly Chart: Smoothly following the trend provided by Ts and Ks.
-Daily Chart: Strong sell signal, also a state of pull back was ended @ Ks and the down move resumed.
-4Hrs Chart: signs of rejection from the cloud, if we managed to get a Strong signal this will add more weight to the down move.
-1Hr Chart: Price started to trade below the kumo , stable trading below the kumo will add more pressure and the down move will be able to resume .
this is all the story, very easy,timeless and I am now ready to short EURAUD next week if the scenario I am expecting continued , I’ll hold to this view.
will be looking for another pair if the price jumped over the 1Hr Kumo during the trade .
Feel free to ask about anything regarding this setup