Here is a short trade set up using my own personal strategy.
Targeting a lower low on the 1hr timeframe for over 3:1 RR
Check out my blog for my strategy and more free technical analysis diaryofafinancekid.com
Another higher low forming on gold.
Got a nice rejection of the fib 0.786 retracement level and the broken bullish TL.
Looking for a lower lower to be made on this timeframe swell as the daily. Hence my target target profit of $1455/$1450
Broken out of the channel formation to the upside.
We have a 38.2% Fibonacci pullback level of 1.2116 from 1.1851 to 1.2279.
Bespoke support is located at 1.2116.
There is scope for mild selling at the open but losses should be limited.
Expect trading to remain mixed and volatile.
We look to Buy at 1.2115
Target 1: 1.2270
Target 2: 1.2345
UsdJpy has been very bullish for the last week or so and I think we have some room to carry on higher still. I would only go for retest due to being at a minor level but dont see anything wrong with an extended target.
Ahead of the Parlement decision and debate today, the market has recovered to the level 1.2261 where I believe the uptrend will be extended till the final vote outcome been released, much such as in the event where no confident motion was voted for against the previous government, at the time where Theresa May have been a PM. except for this time, the motion isn't...
the Bitcoin has reached a new level at 10,768 (4.35% of the previous high) whereas following the RSI indicator a possible diversion is possible where a pullback can be a possibility. Therefore the other 50% which suppose to be closed at 10,800 is now closed with the current level.
A good potential BUY opportunity on the usoil (all explained in the chart, TP, SL Target 1 and target 2)
50% closed at target 1
50% closed at target 2 ( with the trade set at 0 free risk trade after closing the first trade at the first target level)