High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

Here's a Screenshot of my Settings:






Note: I will be looking for Completed Patterns on M30TF, H1TF, H4TF and Daily TF

USD/CHF, H1TF - Potential Trend Reversal Trade Setup ( Bearish Crab )

NZD/JPY, H1TF - Potential Trend Reversal Trade Setup ( Bearish Gartley )

EUR/CAD, H4TF - Potential Trend Reversal Trade Setup ( Bullish Butterfly )

AUD/NZD, H4TF - Potential Trend Reversal Trade Setup ( Bearish Butterfly )

Remark: The market has been confused for the past few weeks ever since President Trump took office
in the United States...It's important to wait for confirmation on any trade setups or risk a little to get your
feet wet....

On top of them setups, I do have 2 major setups on AUD/USD and NZD/USD.....

What to expect on AUD/USD for the next few weeks:

M30TF




Daily TF

What to expect on NZD/USD for the next few weeks:


H4TF ( Shark )




Daily TF ( Shark Cypher )

Current Market Sentiment/Condition ( Observation ONLY )




Note: So much Opportunities this week, but the Daily Sentiment has to match with the Overall
Market Trend....Some of these trade setups are going to last for up to 3 days or more...


P.S Rules of Engagement in 3 simple words: Trend, Sentiment, Signal

Yellen sends the USD higher – rate hike coming in “upcoming meetings”,
upbeat on the economy.


In a short 4.5-page testimony, Fed Chair Janet Yellen makes hawkish sounds,
saying that the committee will evaluate the situation and perhaps raise rates in
one of its upcoming meetings.

Three rates hikes are possible with and in line with Fed forecasts.

Yellen sees the jobs market with rosy glasses: wages are rising in jobs growth is widespread.
She says that waiting too long to tighten would not be wise. However, the caveat is the normal
warning that rates are not a preset course.

She says it is not her place to advise on fiscal policies but mentions that these should promote
long-term growth and maintain a sustainable budget.

Fed Chair Janet Yellen is making her first testimony in front of the new Congress, under the Trump
administration. This is the main event of the week. The prepared statement is released immediately
with all the headlines flashing. She then reads it out and follows with answering questions, where
more market moving remarks can emerge.

The US dollar has been mixed ahead of the event.

Trend and Strength (CsDash Update )

For Live News Feed, check out this website:

https://www.financialjuice.com/home

Food for Thought:

Some of the Major News Events this week ( Feb 19th - Feb 24th )


UK GDP data:
The second GDP evaluation for the third quarter of 2016 confirmed earlier estimates of a 0.5% expansion rate.
Consumer spending continued to be the main force behind UK’s growth. In addition, exports outweighed imports
probably due to the weak pound. But the construction sector remained weak, contracting for two straight quarters.
Economists predict growth will slow to 1.4% in 2017 from 2.1% in 2016 as business investment declines and as
incomes are contracted by higher living costs. Economists forecast a 0.6% growth rate for the fourth quarter of 2016.


US Crude Oil Inventories:
U.S. Crude Oil stocks surged to 9.5 million barrels in the week ended Feb. 10. The reading missed predictions for
a 3.7 million barrels rise. The rise was due to a cutback in refineries output and weaker gasoline demand. However,
economists believe demand will strengthen in the coming weeks. Overall demand for gasoline in the last four weeks
declined 5.3% year-on-year at 8.43 million barrels per day.


US FOMC Meeting Minutes:
The minutes from the Federal Reserve rate meeting on December revealed the Fed approved their first 2016 rate hike
following the positive market reactions to Donald Trump’s victory earlier in November. Following the elections, policymakers
anticipated a more aggressive growth as Trump plans to spend as much as $1 trillion on infrastructure while cutting taxes
and reducing regulations. However, the economic projections remained nearly unchanged rising slightly higher, as the
committee indicated that GDP growth would hit 2.1% in 2017 as opposed to the 2% estimate in September.


US Unemployment Claims:
The number of Americans who filed claims for unemployment benefits rose by 5,000 to 239,000 in the week from Feb. 5
to Feb. 11. However the number remained at exceedingly low levels indicating the a nearly eight-year-old economic recovery. 
Economists expected claims to reach 243,000. The four-week average of claims increased by a mere 500 to 245,250,
the lowest level in 44 years. Analysts estimate an increase of 242,000 new claims this week.


Philip Lowe speaks:
RBA Governor Philip Lowe will testify before the House of Representatives Standing Committee on Economics, in Sydney.
The governor urged the Federal Government to invest more in infrastructure to help boost economic activity amid Australia’s
high population growth. Philip Lowe opposes Donald Trump’s policy of trade barriers saying Australia is a country that has
benefited greatly from the open international trading system.
Philip Lowe said economic conditions are improving and the RBA expects the economy will average about 3% growth over the
next few years. Furthermore the governor expects the downtrend from the mining boom to be finished in the coming months.

Current Market Condition/Sentiment: ( Observation ONLY )

Trend and Strength ( CsDash )




Note: The spread is a bit different on this new MT4 (Oanda) platform...It's going to take me a while
to get used to it....I will be placing small trades until I am comfortable....No commissions from what I
read, but I guess they make their money through the spread......

Potential Harmonic Pattern Formation (MonsterDash )