Sterling Dollar Swing Short - Wednesday 25-8-21
As shown on the updated chart, correction -c- (white) should be ending today with price congestion in an ending diagonal.
The target spike price for this ending diagonal lies between <1.3780-1.3810>. The expected market resistance high pivot to day is 1.3787.
I will stand my ground, and sell part size (half) by limit short at 1.3770 + Remainder (half) at 1.3790. I will take stop during entry phase to 1.3875.
All else remains the same in terms of targets & Money / Risk management.
If the market should break lower from current levels. It will form a local double head on negative 1hr CCi momentum. ( shown on the lower chart window). I would then know & amend entries accordingly to sell at the neckline of such a local formation, with stops > the heads. Either way, (Topping or breakdown), I would expect to be in the trade by end of day today - early tomorrow latest.
The congested positive momentum cycles on the 1Hr chart, and low volatility momentum plot on the 15-min chart, (not shown here), indicates low volatility in price cycles , and therefore - I will stand out of day trading wave-b- (white) to 1.3790 levels. - No -ve cycle extremes were recorded on the 15 min chart to take long short term signals on (trade wave -b- up to wave -c- top)
This is a different day trading strategy , that "we" could best implement, when the Trend breaks out down wards - (in the Trend's direction). So I will not attempt to go into now.
All the Best & Profitable Trading
Summerset
The target spike price for this ending diagonal lies between <1.3780-1.3810>. The expected market resistance high pivot to day is 1.3787.
I will stand my ground, and sell part size (half) by limit short at 1.3770 + Remainder (half) at 1.3790. I will take stop during entry phase to 1.3875.
All else remains the same in terms of targets & Money / Risk management.
If the market should break lower from current levels. It will form a local double head on negative 1hr CCi momentum. ( shown on the lower chart window). I would then know & amend entries accordingly to sell at the neckline of such a local formation, with stops > the heads. Either way, (Topping or breakdown), I would expect to be in the trade by end of day today - early tomorrow latest.
The congested positive momentum cycles on the 1Hr chart, and low volatility momentum plot on the 15-min chart, (not shown here), indicates low volatility in price cycles , and therefore - I will stand out of day trading wave-b- (white) to 1.3790 levels. - No -ve cycle extremes were recorded on the 15 min chart to take long short term signals on (trade wave -b- up to wave -c- top)
This is a different day trading strategy , that "we" could best implement, when the Trend breaks out down wards - (in the Trend's direction). So I will not attempt to go into now.
All the Best & Profitable Trading
Summerset
