Ready, SET, Go!

as jsut said:




It is now valid

So we are still in the zone: This should be the best time to short, however, I am not convinced yet, we won't turn up higher.


This is too flat to hold:



I think I will wait for some confirmations for now. We are also too close to our trend line to short. And too close to our orange marker for buyers.

Any higher time frame shows a huge distance for bulls, but we need a confirmed counter on the higher time frames, maybe it will form from this. I think I pass for today. Had some good money in the morning, I am okay with that.

Any other pairs you guys wanna check?

I agree with you, Asia and London were strong against the dollar, and I don't intend to enter against it late in New York, certainly when I don't see enough criteria for it, even if a correction could come, I prefer to keep the profit and wait for tomorrow, like every day,

I have updated the chart, if the uptrend truly starts this would be the best time to enter.



However, we need to break the up orange marker for a true uptrend, and break the lower orange marker to return to the low point. So now, we wait.

Little update:



Just cause I leave for today, I wanted to have a view on what I expect. I expect a new high, with a new trend line and a new marker. I think as long as that marker is steady, we won't really make further down moves. If in the morning I get a decided direction, I continue trading.

Good luck everyone

Just my thought guys...
may we now will go to south.....

Same thoughts, I am in!

So here is the deal:





I cleared off the chart and leave out the ideas and the suspected possibilities, and left only the facts. So, the Original trend still holds, the orange marker is the key level. The counter trend's orange marker has been crossed, so technically we are waiting for the new low. In theory there should be no further move up.

However, if there will be one and we break that, that means, that the bull run is prepared and we will be striking back towards the H1 trend line.

Now considering the fact that the price is so far away, it is pretty likely that it can actually happen. Today we got some red news too, so it can bring some unexpected movement. I believe a stop is good around the orange marker.

I would like the first part of what you said better and I really want it...
but both are theoretically very possible.

So quick update on the chart:



Seems like we have reached the orange marker. We might touch it in any minute.

Let's see what this means. Well first, the Sell did stop out, and this will likely mean a trend change, possibly to the H1 Trend line, but we need to keep an eye on it. Once the orange marker is hit, we full fill the new high purpose and we will be aiming for the uptrend line again, that is where we will be looking for a new buy position.

This is how the H1 looks like:



So we have a really fast up move, which is likely to get it's trend line crossed, then make further highs with a flatter trend. Maybe the news for today will push it there. In any case, we gotta be careful with red news.

Something that does, and does not comfprt me is this:



The DXY shows, that the H1 chart has an uptrend, so low, that for weeks we are over priced like hell. Mostly because of the elections of course. Not to mention that the it shows that there was a counter trend, broken by the gap, and now we have a new low, this is the same patter showing that the DXY is now on a decending path.

The only comfort it gives me, is that on the Daily:



You can see that the orange marker is at 113, and the only reason for a show stopper now is that we have just crossed the orange marker of the current uptrend, validating its pretty flat line.

Now I believe, first we make the 113, then we fall back to the bottom line.

But this is the daily chart, so we speak about weeks or months. Now I assume, we will have this up trend until Trump gets in his chair, and his first ammendments get to life. After that, the dollar might loose strenght as I don't think his TAXing laws will help much in the long run.

Hm...

The marker hol up nicely, we are still in trend?



News will decide.

So the Orange marker held the price, we had a huge move up and down, and yet we are waiting to get a clear picture. As of now the down trend would be the expected answer, so making a new low. As you can see the counter trend is broken too.

However, now this could be the actual turning point where it breaks our orange marker on top.

I think the best now is to wait out, we are not in a good buy position, nor in a good sell zone.

Finally something has happened:




Marker breached, going for the bears now. However first we need to test back our new uptrend line.

So short term, short, long term up!

Entry signal is coming up,

Maybe the opening of London will create an entry..

Just got an alarm triggered. Let's see how far we gonna get back to the main trend on top in the distance.

Thought it might be better to explain what I am looking at as for entry:



Shoulf the solid white line break, preferably below our uptrend, and before reaching the uptrend's orange marker. Than the TP is a new high.

I think it is a bit clearer this way.

Yes, we really need it in this case.. thanks. Despite the fact that the risk is high, I already entered with a larger stop..
although today is a USD Bank Holiday and the price may go sideways, we'll see how it goes..

Well technically, the odds are still on your end. I normally see futher crosses below the trend lines, but there are cases where only a wick touches it. So we will see. If it goes a bit lower I will feel more safe to enter, or when the trend line crosses.