it's been a while since i last posted an idea. I wanted to share with you this simple setup i'm looking at right now. I've already entered short in this pair, for a bunch of reasons. First of all, we have daily structure looking left (that is always key), then you can see a big bat pattern completed from some hours, but also a double top with RSI ...
GBPUSD has took a small hit today and I'm projecting the bullish momentum to continue now, with 2 strong daily closes above the 1.3 level, I am seeing clean protection of this level and DXY had a good chance of making new highs on Thursday and failed again, forming a triple bottom.
Fundamentally Brexit headlines are emerging each and every day and it looks like ...
I am waiting to see how the initial reaction is the second rates are released.
I am expecting the market to suck some sell stops at the bottom then power through.
Readings on the release is hawkish and structure is bullish on EU and EJ. So, we will see!
Wait and see how price reacts and get ready too buy!
CFTC data shows YEN bears were at extremes a few weeks back. They have started to unwind their positions and thus accelerating Yen's upside.
Nikkei225 which is in close inverse-correlation with YEN is tracking lower too.
We expect market participants to continue unwinding YEN shorts from over -$12bn short to -$7.5bn, which would transcend into a 2-3 handle move ...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=129.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of R2=129.15.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of ...
We have a potential strong bounce from the structural point on EURJPY.
Over the last few sessions, we have seen price printing lower lows without fully breaking lower, this scenario presents to us a high probability trading opportunity.
We have a structure at 129.13 which has been tested this morning. If price continue to rise and close above the 129.68 1WCLOSE we ...