Daily chart in a bullish trend
H4 chart - initiated bullish trend and had retraced to 50% fib level, rejecting from a previous level of resistance (H4 projection projection -27% fib level)
30m chart - Break of resistance creating a new high after a double bottom, was waiting for a retracement for to the 38.2%or 50% fib level, however started ranging between 0 and...
This has had a big rejection from the resistance level and has continued down to support where it has finally slowed. I expect this to be a brief correction before continuing downwards.
For an entry to a short I want to see this break the support and then retest it as resistance. Then a short can be taken with a target at the next support of 113.819
Big correction seen on JPY pairs today. This is back into a support level now, need to see it hold up here and there should be a very good long opportunity. Can use the 4HR and 1HR timeframes to pinpoint the best entry point, it has shown no sign of turning higher or slowing down yet but it should do soon. MACD is well above 0 so still bullish and EMA's have not...
As previously shown on a post this pair is at a resistance and is now breaking above. For an entry we want to see a retrace back to support and then a rebound upwards. I have set an initial target of 119.004 and then this can be swing traded to the following targets of 119.917 and 121.950
This is at a big monthly resistance level, it has rejected this level a number of times but I think it is likely to breakout above this soon as the price has been more stable than its previous attempts which were big spikes to this price. Price action is currently bullish as seen on MACD and EMA's, I want to see the breakout confirmed and then the support created...
We had a daily close inside the daily resistance area.
looking for our target on the 50% fib level.
Then tests 116.600 and 116.800 range before falling to 113.800
Entry - 117.550
SL - 118.000
TP1 - 115.750
TP2 - 113.800
- Potiential new level of support
- Creating a higher low
- 20 EMA moving close to price (moving support).
This will be a pending order depending on how the
market wants to move.
I won't be entering this trade until I see some bullish confirmation.
Here's a trade setup that I was looking at earlier today.
Unfortunately I missed out on the big move due to work commitments, but no matter!
I'm interested to see how price reacts when it reaches the next key level @ 116.200.
There's a few scenarios that could play out here, I'll break them down below.
We see a move past the last peak and a...