This is just a brief update as I am working on the coding of my algorithm today. I previously mentioned I was looking for Gold to possibly pullback and test the $1,200 and it’s on its way there now. My algorithm currently suggests better trades are found from the 30 min charts and the USD/MXN was a prime example of that overnight.
USDX daily: bouncing up from the recent support trend line and key 100 level. Thus, no new ‘lower Low’ just yet but watch for any new ‘lower High’, possibly near 102, to form up a bearish H&S:
Gold 4hr: heading back to test $1,200? I’ll be watching for any make or break from there. A Bounce here could form a H&S though too so caution required:
USD/MXN: Yesterday I Tweeted to watch these trend lines on the USD/MXN for any momentum-based breakout. These were the charts from that post:
USD/MXN 4hr: from yesterday:
USD/MXN 30 min: from yesterday:
This was what I woke to find this morning. Yet another great 30 min triangle breakout and new TC signal that triggered during the European or US session without me:
Other Forex:
AUD/USD 4hr: Price stalled at the major bear trend line and I’m watching to see if the 0.75 holds here. There is some H&S potential here too.
USD/TRY: another exotic worth watching for any momentum-based triangle breakout:
USD/TRY 4hr:
USD/TRY 4hr Cloud: not above the 4hr Cloud just yet:
USD/TRY 30 min:
USD/TRY 30 min Cloud: is above the 30 min Cloud though:
USD/CNH: another one with a larger triangle brewing and is worth watching for any momentum-based triangle breakout:.
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