Updated

Looking for H/S Backtest

I see EU retesting the neckline.

Note

Target near 1.1480.

Note

Closed out longs a little early, there was a pop last night about 2 hours into the JPN session. In the above picture, Year CAM 3 seems like a likely stopping point if it chooses to go a little higher. I will start adding shorts there in small amounts with about a 50 pip stop.

Note

That Year CAM S3 value is about 1.1525. It may be best to wait for daily confirmation at this point with a Donchian(2) low breach.

Trade active

Started with 1 lot short @ 1.1560.

Note

Yikes.

Note

1.1620 is ALL the way back to the triangle breakout 2 weeks ago at the bottom rail. Would be very impressed if we got there. I would be down 50 pips on this small position, but impressed.

Note

Looks like a pretty nice impulse wave. Daily is beast. Was the entire move down just a false breakdown (Wycoff Spring)? Looks like sellers are dried out.

Note

Shorted one more lot here near 1.1610.

Average price for position = 1.1585.

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There is a big long coming in the next 1 week or so as seasonality picks up for the late August bottom in EU (and top in DXY).

EU: imgur.com/a/VMWCyAR
GU: imgur.com/a/lbGpnsI
Gold: imgur.com/a/n1zp2O6

Note

Think I will target 1.1525. So 60 pip trade. EU exhibited just too much strength on this move up.

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Closed 1/3 @ 1.1535 on Weekly VWAP = 50 pips.

Note

Lesser known to a lot of folks is that small H/S patterns can morph into continuation patterns. Not saying this is what is going to happen it's just that I have witnessed it many times.

Trade closed: target reached

Dumping the rest. Don't like it.

Note

As suspected... that weekly VWAP bottomed out EU toward the Thursday close.

There is a big inverse 2HR H/S that was broken today on the Powell rate hike statement.

mortdiggiddy

Find the edge.

Website: daily-edge.com
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Short to Year pivot

by mortdiggiddy

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mortdiggiddy

Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy