20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
The USDJPY has dipped below the 100 hour MA on the break lower in the USD on comments the Fed, PBOC liquidity pumping news, and England and Wales survey saying they don't want Scotland to leave the United Kingdom. The move lower in the USDJPY moved to the bottom trend line on the hourly chart at 106.82 and stalled . The price did crack the 100 hour MA above (blue line at 107.08) though and this is now risk for sellers who are happy being short. See prior post.
The sellers did take control on the break and close below the MA (first close below since September 5th), but need to make the next push below the support trend line to gather more selling followers.
The 106.62 and 106.345-37 are the next targets if support can be broken. A move back above the 100 hour MA would anger the sellers who have been waiting for two days for the USDJPY to break lower. Now is the time for the sellers to show what they got.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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