For next week, EUR/USD contains 3 hurdles in its price path: 1.0584, 1.0668, 1.0778. The extremes to bottoms from this current 1800 pip move are located at 1.0478, 1.0389, 1.0333. Targets are found at 1.0869, 1.0888, 1.0906 and overall, 1.0942.
For today’s 24 hour day trade, upside targets are located at 1.0709 and below at 1.0464. For the day’s 7 hour trade, upside targets are located at 1.1540 and 1.1567. For the 24 hour trade, EUR/USD must break 1.1567 but it can’t happen until after 10:00 am and the remaining 6 ish hours of trade.
EUR/USD upside to 1.0709 truly doesn’t matter as the day’s downside targets were met for 100 ish pips and we’re now working on upside targets to add to overall profit pips.
USD/JPY for the 24 hour trade achieved 140 pips, EUR/JPY 117 and GBP/JPY 167 pips. Total 424 pips. Trades were known and established yesterday afternoon and long before BOJ Blah blah pablum. A this stage to 24 hours, we’re working on downside targets to add to overall profit pips.
For 24 hour trades, required is place market orders to targets for longs and shorts. Then walk away and enjoy the day. Profits and targets are mathematically guaranteed. Again, profits and targets are mathematically guaranteed.
See btwomey.com for many examples. After posting a million pips to trade targets, makes no sense to further participate to write trades and targets again. And after 18 years of hard work to achieve what has been accomplished.
Overbought and oversold is irrelevant to targets as the primary trade. Stops and charts were irrelevant many years ago. Astoundingly irrelevant is the daily market talk or central bank words, prognostications and pablum. A market price doesn’t care especially if its yesterday’s news.
Today is German Inflation and US GDP. The market price saw this yesterday and doesn’t give a dam. Focus on market pablum means losing money and trade opportunities.
The amount of traded pips daily, weekly, monthly are finite and this phenomenon can’t ever change. Trade strategies are found inside the concept to traded pips rather than a strategy that may or may not fit the trades.
USD/JPY big line breaks are located at 129.54, 128.84 and 126.18. above 131.65.
USD/CAD Big Lines 1.2813, 12770, 1.2629. Above 1.2900’s are massive resistance
points especially when the 5 year average is located at 1.2990 and dropping by the day.
GBP/USD big lines 1.2828, 1.2675 and 1.2551. The 5 year average = 1.3176.