Wednesday 15m signals
GU: The CP gave a Triple @5am yesterday that was under the Pivot (also under 21ma with CCI & RSI both negative) for a possible +30 pips whaich was double sl. After price rejected 400 (price failed all week to make sustained break of 400)it formed a wedge which I pointed out in the chat room. I advised to expect a nice breakout from the forming wedge & price is currently +150 & at weekly Pivot from the breakout. SL on the trade was -60 (Under the weekly low) with target 1 +50, target 2 +100 & target3 +150. I let this trade play out as these breakouts on Cable usually pay very well. All target hit but letting 3rd lot run with managed stop loss.
The CP did signal entry (after I had mentioned the wedge) with a Double Play that closed outside the wedge @12.30 (1.30 on my chart) but it would have been wise to wait for the breach of the Pivot as the candle closed just under it. There was another opportunity to either add to position or get in the trade if you missed the first entry when price pulled back to test the Pivot & the CP gave 2 consecutive Double long entries.
EU gave a Triple Play @6am that closed below the Pivot but price reversed 2 candles later. It then gave a double above the Pivot followed by a single Hammer signal that rejected the Pivot. Price went straight up to R1 for a possible +60. After price rejected R1, the CP gave a double Play that closed under Marks short level for a possible +55 down to weekly support 1. The best play on EU yesterday was from the 12.45 Triple Play signal that rejected WS1, price shot up to Marks resistance level of 1.2675 (light blue line on chart) for +40 & then retraced to 76 fib from where CP gave a 2 consecutive Double Play signals from where price went +90 to today’s R1.
There was a short Triple @6.am on AU but price was at rising support (15m) & then the CP gave a much more playable double Play signal @7.30 that had rejected the support. From there price went straight up to R1 for a possible +50. The CP then gave a Double Play short from the rejection of R1 & price fell to S1 from there for a possible +110. Someone in the chat room asked it was wise to enter short after the initial trigger at the Pivot & I explained a re-entry technique which I’ll list later). The 15m didn’t give a long signal from the bounce off S1 but the 1h did which I’ll also list)
So to summarise, yesterday was a perfect example of all 3 pairs acting in sync. Both EU & AU rejected WS1 & GU rejected 400 which gave a combined pip count of around +400 pips to this point.