Hey Happy Pip! I know you’ve been playing ranges lately, but what about this divergence setup on USD/CAD? Price just registered lower lows but Stochastic posted higher lows! If you’re more of the patient type, you can wait for a bullish maruobozu candle before putting up a long position!
Boy, I bet Huck is just gonna love this setup on EUR/USD! It’s got not one, not two, not three, but FOUR signals lining up! First, EUR/USD is now testing a falling trend line. Second, Stochastic is currently deep in overbought territory and is about to crossover. Third, price is currently finding resistance at the 61.8% Fibonacci level. And fourth, we just got a really nice doji form! If that ain’t enough for you, then maybe you’re better off waiting for a bearish red candle as more confirmation to go short!
Lastly, here’s a setup for my man…err, monster… Cyclopip! GBP/JPY has been stuck in a tight range of about 130 pips and is currently trading near the bottom of the range. I’d probably wait for a solid retest of the support level before establishing any long positions. Of course, if we see a candle close below 130.40, it may signal that a breakout is in the cards!
To get the complete picture and avoid getting blindsided by economic data, you also have to do your fundamental analysis.