Lem's Big Box O' Stuff.

[LeMercenaire]

'Morning all. The sun's out again! Is it Spring now?!?!

Over on that AJ trade, things are ramping up a bit. The pullback has been more than the originally looked at blip and instead is heading for 79.089 which is the major 50 level.

This now actually answers forexhell's question above, as if it does indeed drop to that level, then we will get a lining up of other major long triggers - the ma and double-cloud formations.

AUDJPY H4

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From here, we begin to look at what the MACD's are showing us as well.

Getting interesting!

[LeMercenaire]

Wait...wait...

AUDJPY H4

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Mildly annoying - but what can you do.

[LeMercenaire]

Well, if you'd been aggressive, you'd be up +25 or so just now.

AUDUSD H4

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So...what we do have going for us, is that we now have price closed above the 23.6 level. As such, we'd be looking to get in long here.

We shall see what we shall see

[LeMercenaire]

Key notes on the above:

1: As noted, price has closed and held above the 23.6 level.
2: Price is above the ma.
3: Price is above the double cloud.
4. The L-MACD is Long bias.
5. The U-MACD has flipped back over to the Long side.
6. H4 pa is giving us higher lows.

Caveats:

1: If this were the scalping chart, I would be concerned that price is a distance away from the ma. I would be looking for that gap to close and for a rejection candle to form and close. However, up here, the ma doesn't quite play the same role, instead being more of a directional bias confirmation.

It would be a powerful level to pay attention to should it drop however, as it would then key into the ma after all at around the same time.

So, it may still drop and prove me wrong (or is it right?) but for now, I'm happy with the reading. If not, then you'd be getting in on top with a better price.

[LeMercenaire]

Wish this AJ set up would get a move on - but in the meantime, check out the perfect 50-bounce on Cable there.

GBPUSD m30 Chart

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[LeMercenaire]

That wasn't caught by me, just jawin' while we twiddle our thumbs.

Ah well, there's always The DAX - never fails to keep idle hands busy.

[LeMercenaire]

Had to get something out of that Cable climb and figured there was an opportunity for a quickie on the pullback here.

There was.

GU T-60 Chart +5.7

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There was another 8 or so lumped on top of that after another quick retrace but I am happy with the bag, as this could be topping out.

[LeMercenaire]

Had to get something out of that Cable climb and figured there was an opportunity for a quickie on the pullback here.

There was.

GU T-60 Chart +5.7

Screenshot 2019-02-27 at 11.41.14 - Edited (1).png

There was another 10 or so lumped on top of that after another quick retrace but I am happy with the bag, [color=#FF0000]as this could be topping out.[/color]

It was.

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[LeMercenaire]

Woo-Hoo! AJ is finally on the move. +10 or so on the bounce from the 50-level / ma.

[LeMercenaire]

As price is about to butt a Z-Line cw fib level, I may bank this and re-enter should these levels be busted through.