News events can sometimes offer the best set ups. This afternoon we have the Fed Chair Powell speech. Using correlation and my bespoke technical indicators, I am short term USD positive. I have also have some interesting chart formations on the US indices.
Below, I look to break down the cypher formations. The arrows depict the legs that I am looking to trade. Black arrow for entry, blue arrow for profit, stops below or above swing.
The horizontal lines are various bespoke support and resistance zones.
DXY 4-hour
EUR/USD 4-hour
USD/CHF 4-hour
NZD/USD 4-hour
US30 4-hours
Looking for the pattern to complete at 32946 on Wednesday 11 th Jan. If we DO NOT see a reaction higher from 33120-33240 (BC leg) zone, then the call is invalidated.
Nasdaq100 4-hours
Looking for the pattern to complete at 10761 on Wednesday 11 th Jan. If we DO NOT see a reaction higher from 10993-10965 (BC leg) zone, then the call is invalidated.