FX

There are a lot of things that move the market, most are pretty well correlated so if you find one, you've likely found a bunch, but it's essential to look at as many as possible.

Last night I posted this 30 min $USD chart and told you what it meant to me.

30 min $USDX

Earlier today I posted this 1 min USD chart and the 5 min, I told you the 5 min is where we are going, even though the 1 min doesn't reveal that yet. Ultimately we should be heading to the 30 min $USD chart.

 1 min $USDX didn't tell us itself which direction was the highest probability, but the next timeframe of 5 mins, did...

The 5 min chart making it pretty clear a break was coming to the downside for the $USD.

Since then, here's the current $USDX 1 min chart...

 Since the earlier post this morning (above) of the 1 min chart, the 5 min chart was correct in giving the highest probability to the 1 min chart breaking to the downside as it has done.

Remember I said just about 1 or 2 posts ago that first resistance is coming up at yesterday's close (red arrow)? Well you can see the 1 min 3C losing some intraday momentum as we near the area, but just like the 5 min $USD chart told us what the probabilities were, so does the SPY 5 min chart.

SPY 5 min chart, so this tells me whatever intraday noise or emotional shake-up we see near resistance (even the 1 min $USD is slightly more positive suggesting some volatility) from the 1 min chart of the SPY above, is pretty insignificant as this 5 min chart is where the probabilities are.

This is the same situation as earlier today with the currency direction/probabilities.

Remember the 30 min Index Futures leading positive and the $USD 30 min leading negative. If you want to know what the 1 min's ultimate probability is as well as the 5 min chart, it's right there on the 30 min posted last night and seen above.

Like I always say, the market isn't going to make any of this easy for anyone. The short term shorts are not happy right now with the market coming off its lows, they are emotionally scared. The short term longs were scared this morning, it doesn't matter which side you are trading, they'll go after you all the same.

The thing that gives out edge and confidence to stick it out is unbiased, objective data.

I just posted a bunch of it, not only what is likely to happen, but the results of what I said was likely to happen just a few hours ago as we were at the lows of the day.