Ready, SET, Go!

Waiting for an entry. I am pretty confident we will go further up. But I want a nice signal.

Updating the chart:

Sell with the TL test, as the dollar seemed to strengthen a bit, 19P, glad I didn't go into New York at the end of the week/month, have a nice weekend,

Entry Signal received:



Let's see

Got Stopped out, which means we are going for the uptrends orange marker.

This is the turning point downwards.



Red triangle shows a possible entry point.

Aaaaaaaaand Got back more than what I lost already:





This is how to read the signals. New Trend line formed. Waiting for new low and new entry.

Chart Updated,


Entry in the red triangle. Stop orange marker.

Chart Updated:

So the Orange marker of the coutner trend got beaten, hence new Top is comencing:




TP Top Orange marker

I am amazed at how you READ and REACT to charts...RESPECT!...VALUABLE information for as ...

So little update, I could not get here any earlier so I have a lot to cover.

Let's deep dive.



I have marked with a strong green colour the original uptrend, that I thought we have broken, and which will continue as our down trend, failed bz breaking its orange marker on friday afternoon.

Now this morning we have started with a strong GAP and counter move.

Which actually shows me this:

H1 shows the greter picture.

Currently we have "no way" to go, No markers down:



This can mean two things:
- Total new low and master trend continueation
- Or eventually further move up.

Let's see which is more likely.

D1 shows, we are currently in a down trend, which I would say is the master trend for us:



DXY shows:




Kinda similioar behaviour, as we have just been doing a new top for our uptrend. But as you can see, the DXY made a really flat up trend line, that has just made its new top. Which means, from here our aim will be to get back to that blue line.

The DXY's down trend orange marker is so high up, I don't see a reason for that to be reached before clearing up that flat blue.

Sooooo what I expect is this:



We will continue down for some time, but without making a new low, I expect a turn around and that we will keep targeting our major trend line for a new touch.

As the Weekly shows, we have not yet touched the main trend line, and that needs to happen.



After touching that, I assume it will keep going further low.. But we are talking months or years here.

Any ways, for what we are more interested in is the m5 chart. There We need to have a touch on the trendline to go further low. So once we get a touch point, we will have a good aim where to target our entries. Today's break out also confirms a turn around point so let's stay with the bears today.

I will post if I see a good entry point.

My lines are a little different from yours, but I don't think the point changes.

I agree with your drawing - Let's see if today we get any luck

Nice thorough analysis Tools. Thank you! Do you think Trump with his new ideas will affect DXY in any way? I´m a bit concerned about said man..

Update on the chart:

I think today the EURUSD will work on getting back to the top section to test the trend line. I have just marked. A possible entry.

Yesterday there was no target to hit on the EURUSD, but let me show you what else gave me a good opportunity.

The GBPUSD formed a really flat free money line,



I have realized it around the time I marked and I entered. I should maybe keep an eye on more pairs live... Anyways while I was doing some back testing I have jsut realized this one and quickly entered. I got some nice profit from it. So What I decided to do is I will refresh my charts this morning as follows: 1m 5m 1h and I will try to look for patterns on:
AUDUSD, GBPUSD, EURUSD - So all together 9 charts. I will also try to make some colouring differences so you can quickly follow what I am posting about.

AUDUSD - RED Backdrop
GBPUSD - BLACK Backdrop
EURUSD - BLUE Backdrop

I will get them prepared and will share the current stats soon.

So let's see what we got.

I scrolled back the M1 chart on the EURUSD as I could so I get a full picture while doing a backtest. And I found some crazy opportunities.




So on this picture you can see two free money lines. As the first trend is so flat... it is just too EZ to make money on. The Other one is exactlz on the same pip, making it totall flat. Which means at any given time you buy below that you will get a profit. On these occasions the best you can do is to enter at every new low.

Here is a 2nd Picture where I zoomed out to show what I mean.



Once we got above the free money line, that trend has officially ended. So the Uptrend fulfilled its destiny.

Right after we should expect a return to our trend line, which happened soon after, leaving another free money line behind.



So the plan is the same, trade every new low.

If you were to make it more safe, you could have waited for the turning point, and if you wanted to be more extreme and risky, you could have traded the counter trend brakes for a new low.
I tried to mark all possibilities.

Later on by addign a channel, using the bottom trend line, we can get a chance how far our price will go, and that gives us the best opportinities with the best ratio for a good return.



As you can see the entry point was pretty good, even tho it did not reach the uptrend. When the counter fails to reach the uptrend, that means we should expect a new top, as the trend continues to hold.



In our case it happened, and gave us a bit higher point to go for shorts.

Now at this point of time our uptrend's orange marker is down at 1.04581 - Which means, we either get a huge fall, or the trend line get's crossed, making a new higher orange marker, and eventually making a new top.

Here in our case we have not reached it just yet.


So my expectation is that the EURUSD will continue down, and hit the orange marker.



So my money is on further down moves. I will look for good entries.

(sorry for the long post) Also I could have went through the full m1 chart in more detail, but I hope you get the idea what key moments I am after.

I have update the 5m chart, looking for a short entry at trend line cross:

H1 shows, that if we make this new low, we will have good chances to witness some correction.

I tried to show another Free money line. This one is on the GBPUSD, making 3 candles tick being at the exact same level at the same peak.





I tried to re-colour the entry markers so you can see with white the zones to enter, and the ratios, what risks you had at hand. I hope its not too crowded.
Also Right after fullfillment, we had good chances to return to our uptrend line.

I might actually switch over to 1m charts, these give such a good view sometime...

At the end of the chart, right now this is what we have:



Pretty flat line, and we are getting close to an orange marker. So possibly above that we will be good to go short for the trend line.