Take a buy on eurjpy as it consolidated few hours and showing rejection candles , it is expected to go long . Its a high quality trade and will give atleast 50 pips .
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( Falcon Strategy )
Price action brokeout of a sideways rectangular pattern and is retesting the flip resistance. A reversal double top pattern was printed. Potential SELL price pattern
We are currently trading in a 15 pip range. If we break resistance, and form support on lower timeframes, buys could be valid up to the next form of resistance as there is a 15 pip range to target, however I have highlighted a zone we need to watch with caution as it is a previous rejection area. This is why I would prefer sells, we have a much cleaner 18 pip...
This analysis played out perfectly, Price broke resistance and created a support on the 15m timeframe, when the 15m candle broke the high of the previous candle after creating support, we executed buys with our stops below the current 15m candle and out 3 take profit points highlighted on the chart from before, all three TPs were smashed and price ended up...
We are currently trading in a 15 pip range. I will not be trading in the range as it is too small. If we break above resistance and form a support on lower timeframes, I would look to execute buys up to the next resistance, I would look to secure positions at the first two buy targets highlighted on the chart as those are rejections areas. There is clean traffic...
125 and 116 are key monthly levels that i will be looking at setting orders at, notice how these are nice round numbers also!
If you want to see the bigger picture you must zoom out, so use the higher timeframes and you will spot stronger and more setups, if the police want to find someone in a crowd they use a helicopter (so they are looking at the bigger...
I believe price is about to reverse off this level, we are just waiting for price action to confirm the change
Price is being rejected from this level but we wont enter until its confirmed
Price has reached a key level where it took a fall to support previously, waiting for price to show signs of rejection and to break the trendline before shorting to support
