Target 1 = 1.1068 Target 2 = 1.1252
This is an UPDATE to the short I called out a couple weeks ago and still hasn't hit Target #1 yet. We have ran into the Major Trendline this morning, which is concerning to me. We are putting in the Alligator's Mouth or Megaphone type Pattern. These typically result in a Major Breakout once price gets outside of the range. Still holding onto my short per my...
USDJPY is up to its same old tricks. The USDJPY like to consolidate tightly for periods of time then explode out of the range. This Breakout/Breakdown opportunity is setting up on the 240min chart. It's just a simple Balance Area. These Balance Area's are where "smart money" is either Accumulating or Distributing positions, we never really know what they are doing...
USDJPY has retrace to a previous support level at around 122.30. The long wick on the candle confirm that price are pushing on the downside. I am going short at the opening of the next candle, SL above the wick of the candle at 122.28 and TP at the previous lower low at 121.50 Lets see!!
It seems from the 4hr chart that GBPNZD hit the floor at 2.2416 circa. The formation of those long spikes tell me that there might be a push on the upper side. I am going long at the close of the next candle with SL below previouls Lower Low around 2.2364 with a TP at around 2.2994
It looks like the 4hr chart present an opportunity to enter a short trade since the price retraced to the 0.382 Fibonacci zone of the previous down trend leg. I am entering short with a SL above the spike of the previous high at 38.67 with a TP at 35.10 The reason I have chosen 35.1 as a possible target is that I am ssuming that the price is going to reach the...
The SPX500 retraced on its downtrend around 2060. I enetered a short trade at 2057.8 with the target at the lower low 2010. Lets see how it goes !
GER30 broke structure on its way down at 10900 and then retraced at 10942. When I saw a doji candle formation ( I don't trade casndle pattern but sometime it helps confirming a trade) I saw it was a good time to enter a short-term short trrade with SL above the doji high at 11016 and with target at 10686
The Rising Channel of the GBP/JPY has been broken and has closed below the Channel. I took a short on the first close below the Channel. My stop is 1 ATR is above Breakdown Bar around 187.05's. I listed a few Target's for you guys. Choose them as you wish. I only Trade 2 Targets per my Trading Rules. In order to get this pair we need to see Risk Aversion. All JPY...
The GBPJPY has been in a Rising Channel since October. Rising Channels tend to break to the downside. Today we finally got a break & Close out of the Channel on the 4hr Chart. This would be a longer term trade. Stop is 1 ATR above Breakdown Bar. Target is the measured move of the Channel (yellow line).
Symmetrical Triangle and Cypher Pattern indicates a short move to about 119.124.
Hi All, I wanted to share this with you, we have setting up here a potential Cypher and Bat Pattern. I wouldnt normally post a pattern that hasn't completed its C leg But in noticing this Cypher I thought to also keep an eye open for this BAT. All Cypher Details in Blue, Bat details in Pink. Blue Line Entry for Cypher which is 78.6% Retrace from X to C Leg if...
After 52 days of consecutive downside action from the most recent high (daily) , is this now time to go LONG and back the bulls?, here on the 4 hour chart we have a nice double bottom play out and i believe we are heading back up to retest the 38.2 retracement. in confluence with this particular FIB retracement on the 6th of july we located a minor area of...
4hr cloud break with strong uptrend on higher timeframes: possible in need of a correction w/ spinning top candle on weekly(consolidation pattern) looking for sell setup on 4hr and 1hr with Price action and Ichimoku confirmation.
Here we got a yet another Gartley pattern with a little bit better Risk : Reward than the previous one. The stop placement is kind of a compromise, it should actually be above the las structure high, where i got the circle but it will make an inverted risk reward to target 1. So let´s hope the Greek nightmare decissions will not kill us on this Kiwi trade in the...
Channel formed on 4h and 1d charts. Wait for possible retracement before triangle breaks upwards towards the Weekly resistance.
Hello and good morning traders, I hope you all had a great trading day yesterday. Lot's of big moves, making way for great opportunities. I'm looking at the EUR/USD today on the 4 hour time frame and we've come into an 886% completion for a bearish bat pattern. Stops and Targets are in place, looking for a potential move down into Target 1. Star Prosper Philip Stewart