RuckSack

RuckSack Updated 

Interesting to watch this one. We could continue to tighten in the range a little longer before a breakout, but I'll actually be watching for price to reject from the zone after a break lower.

RuckSack Updated 

NZDUSD has been in a pretty strong uptrend since the lows of March. I'd be interested in taking a position at Step 2 if we can get there with a nice rejection. Be warned though, price has been pretty resilient so far... Working TF - 30min

RuckSack Updated 

We'll see what happens here, there is enough evidence to support a move lower as much as a move higher. Determining factor being a strategy signal has been printed and so I'm happy to follow the rules, but I only entered 3/4 of a position based on this. Not something I like to do often as it interferes with the data but on this occasion I necessary adjustment I...

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Reduction in bullish momentum could signal a move lower, looking at the current consolidation zone to populate a little more before looking for an entry trigger.

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The 2h chart would have given us an optimum entry, allowing us to run a tighter stop just above previous highs. This would have meant a 2x greater R:R on the trade. Happy so far with he data gathered from this and a stop currently at 2:1.

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Looking at a possibly reversal point here, with price moving towards the upper bound of the wider range. Interesting to now however is both previous reversals have both come down to touch and breach the lower bound, before making moves higher. Obviously this would deny an entry at the current levels, so i'll be waiting for structure to build and hopefully signal...

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Failed break late entry attempt. Ideally entry should have been a market sell towards the top of the zone once price made a move back inside. This trade also fits with our spike idea so it will be interesting to watch, but objective entry short at weekly res too.

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Interesting to see if this correlates with more downside? To then impose a general rule of looking for the back test point, instead of the top of the parallel. -- See USDCAD Jan 30th --

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Looking for a top after 1,2,3 move pattern

RuckSack Updated 

A longer term view on USDCHF. Looking at the previous reactions to this reversal zone we initially saw a move through the zone to the further boundary, followed by a pullback and finally a break for continuation. The next time price interacted with the level we got a bounce which initially started with some clear rejections from the first boundary of the zone....

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Longer term yolo idea on Gold. I give this a very low probability of playing out, but when lines interact so nicely it's worth noting. I'd mostly be looking for short opportunities at the Flag Target with potential to add if we break below the parallel channel.

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I like the look of Oil this week. Multiple topping patterns added to a reversal zone and downside which wouldn't require the trend to change. Entry point would presumably be a break of the short term TL but with recent price action this may be tricky to nail. Given a big enough move before the candle close may invalidate the trade before it gets off the ground. We...

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Is Gold set for a nearly 20% move to the upside? Price has been narrowing recently, bouncing from trend line to trend line and respecting a low side reversal zone. The technical merit for this is perhaps lacking additional details which may not fully encompass the full picture, but in isolation I think there is a legitimate case to allocate at least a small...

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I'm not on this one but it's worth watching I guess. We have a couple of higher TF trend lines that seem to converge at 0.931 resistance. In terms of current price action getting to that point, there is a semi-parallel trend line that could take us there.

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A pretty interesting 4h rejection point on GBPUSD right now. Up trend still intact however there are several target points on the way down that make technical sense. It's on the watch list for now so we'll see if we can get an entry trigger.

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A couple of strike zones to watch on EURJPY, both intersections between recent price action trends and a Daily significant level. If short term bullish momentum is strong we'll look for the first zone with strike date being between 12th-16th Dec. The second zone time frame is 23rd-25th which could cause some issues with the Holiday break and downtime/low liquidity...

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I'm not super convinced this will be the case here. It's always tricky to establish if price is heading for another rejection or if it's priming for a breakout. If we do see a rejection i'd estimate a 1% move to the downside so perhaps that will invalidate this for some people as given a stop above recent highs you'd be lucky to clear 2:1. Currently seeing a...

RuckSack Updated 

Still have my eye on a potential back test of the 1D/1W TL