Again, using the Ichimoku overlay on the Hourly chart we see the following. Tenkan-Sen crossing over the Kijun-Sen nicely from above, the first indicator of a downward trend. Tenkan-Sen continues then in a steep flow downward, increasing the chances of trend. The Senkou Span “A” is well below Senkou Span “B”, reinforcing the downward trend. Thick width, or thickness, shows quite a fair bit of volatility but with support for our pair. The Chikou Span, at or below current price, simply confirms the downward trend. Will be watching closely as this is the most active day for our pair.
Scalpers, on your toes with this one, there is plenty of volatility to enable us to jump in and out of trades as and when your signals indicate
[Strategy:Sell@0.9125] Price collapsed again following the rejection from the trendline from 0.9391 highs. Daily trend studies are heading lower and the 100-day MA has come back under threat. Will consider selling a clear break of this line but prefer to set shorts into corrective upticks. Cover bounces and ‘keep stops tight given recent volatility.
- For the Day Trader a Short Term Signal: Probability : Sell 62.58%…. Buy 37.42%
Position
Price Flat at
Target
Stop
Strategy Sell @ 0.9125
AUD/USD (Times are shown in EST)
The most active day is Thurs (31% TM)
81% of trends occur between 01:00 and 13:00.
39% TM begins at 05:00
