AUDNZD:
Looks like demand coming in at the lows. (1.485)
Chart: Volume showing demand.
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Action: Initiate short position.
Action: Stop loss above 188.82
Report: Trading fractal too large, switch shorter for stop placement.
Chart: GBPJPY 30 second fractal.
Action: Await 187.27 for short entry.
Error: Kaixo statistics reports GBPJPY to be a long call.
Action: Cancel short order.
Review: Oops, looks like Christmas day hangover blurring my logic.
Action: Long order at 186.97
Action: Stop order at 186.73
QuoteDislikedoMG! I thought its was an atari game ! good work mate!
Thank you, I like the 8 bit style
Alright a very busy Monday here so far. Lets get some analysis ready for the next few days.
Chart: Some nice opportunities in the JPY crosses.
Chart: USDJPY seems dry on volume, AUD and NZD crosses however seem to be attracting some interest.
Chart: Comparative volume study.
Chart: Showing relative strength of the NZD vs AUD.
Chart: Scrollable NZDJPY. Excess volume seen between 93.8 and 93.9 looks like distribution of excess.
I wasn't expecting such a surge in short volatility.
Possibilities:
A: We had a lot of short interest, and the SOS was an upthrust at highs, cleaning the books. This would be bearish.
B: Someone unloaded a lot of inventory at the exit of the LPS, this would require waiting for a retrace to test that supply.
Notes:
From entry price has plumeted 20 pips from my entry, and is well below the 93.4 supply dryup.
If rebounding price regains this level then assume Number 2 spring.
Chart: Long chart for future analysis.
So lets take a look at what seems to be happening to our position.
There seems to be a declining short interest below 93.4
At the right of the chart we see a bull foray into supply, which is met and countered by said supply above 93.7.
I assume that traders long from the previous high look to close their long positions at or near BE giving this latent supply.
However remembering that a few days ago we saw distribution of excess at 94.00 we should proceed carefully as supply could be building up for a downwards push.
Action: Set TakeProfit half position @ 94.41
Happy new year, enjoy the party.