Trades based on Market Geometry and Price Action

eur/gbp is definitely going long..a little bit hesitating because of minor resistance in the area...once price pass the 0.8850 level, it will make a nice up move

aud/cad following the path of aud/usd...the pair is long as aud/usd...it just has to wait for a retracement and buy...

i will go long on aud/usd this week just after the retracement that will come may be sunday-monday...let's wait and see...

ok....as I have said - I have similar opinion - here´s the chart:

1 . green trendline has been already touched three times - the third touch (june monthly doji) closed as an " undecision of the market".
Anyway - the green line is valid - there were 3 touches. 4 touch and brake of the green trendline was made this month - July doji , but so far (as there are some days remaining to the end of the month) the doji (candle) didn´t continue in it´s movement up. As DK mentioned, it´s " a fake doji so far - and fell like a stone again below the green TL.

2. red trendline shows similar situation as a green one - there were 3 touches on the line (the third one broke it a little downside but returned back up the trendline - the red trendline is also valid .

And now - every trendline with three touches on it, draw (pull) the fourth touch like a magnet. It doesn´t matter when this 4 touch happens - the market has a good memory and waits patiently for it´s 4 touch. Usually on the forth touch of the trendline the break of the trendline follows. The depts of this 4 break depends on every single market situation.

We are quite down now and the red trendline is waiting for the fourth touch - and possible brake of of it. How deep this possible brake will be....I don´t know.

That´s why I expect, that we shall see in following days, weeks new fall of US dollar index to 72-73 area and maybe lower before it boosts up again.

Great analysis, Tatbat

thanks

GBP/CHF thoughts:

As DK already mentioned concerning this pair - shorts prevail so far.

Daily chart says : there already were 3 touches on upper trendline and last daily candle closed again like " market undecision". IMHO when 1.3300 is broken down, I expect price can fall down to 1.32xx - 1.3250 area.

Weekly chart says: take care of possible big shorts- price has bounced back from the upper channel trendline and the weekly candles tell me to pay attention to 1.3250 area

sorry for typo in weekly chart....price has bounced from lower channel...

the market is opening soon. have a great week ahead !!!

o.k thanks

will this convergence fib support hold ? that's the question the market will try to answer this week. in case, it breaks down it could be a free fall again...let's wait and see

i think eur/usd is going to give a beautiful long tonight...

market is quiet now as usual..hope the london will bring in some movement

A sweet Monday. ! Long movement previals ATM. I'm looking at a possible down movement so any entry will give a tight sl. Monday shall give me a clear trend soon for the remaining of the week!! Btw I'm talking bout eurusd

a gartley pattern could be forming on eur/usd..i think the London open will trigger a clear signal

Btw guys, usdjpy has broken the last level of support in daily. So, if it heads for downfall, we will see really nice long in eurusd

yep eur/usd gbp/usd aud/usd are definitely long fort his week

I will try to make small entries before London session. With both democrats and republican unable to come out with a plan to ease the debt ceiling, usd shld go down

going for a small sleep and will be back later

A short nap sounds better haha..