Price has been travelling in a large ascending channel, we experienced a fake out to the downside, price made its way back into the channel annd shot up all the way up to the previous resistance point which is quite significant. We saw a major drop the last time we were here, can it happen again down to the bottom of the channel?
We believe so...
Price is...
EurJpy is currently at a resistance on the daily/4hr and Rsi overbought currently on the 4hr, expecting some relief to the levels of support inidcated and looks a good continuation opportunity down even lower on the 15/5 min time frames.
Possible big sell move incoming for EURJPY. We're seeing a very strong move to the top of the trend line channel which could possibly mean a strong reversal is coming. We should wait for conformation to enter the trade, if the candle closes above the resistance line then we can enter buys, if not then this set up could bring in a lot of pips. Keep an eye out as...
Morning traders,
As you can see EURJPY pair has enjoyed a terrific rally overnight and in this morning. Price is seriously in the overbought territory and also reached to major level of structure where it has acted as a support and resistance on a multiple occasions.
I will be shorting from here with a potential tp in the next support zone but long term tp is...
EURJPY has been travelling in an ascending channel ever since the extremely sharp drop on nearly all fx pairs, We have recently saw a breakout of this ascending channel to the downside, we are in the process of a retest of the channel now, so expect to see some large moves down unless price moves back into the channel and forms and inside retest.
I am now shorting the EURJPY FX currency pair based on the 4hr and 1hr timeframe analysis. Confluences for taking this trade are as follows:
- 4hr lower high
- Multiple rejections of 0.618 Fibonacci Retracement level
- 1hr bullish trendline broken with lower high
- Daily timeframe showing tweezer top formation
I have placed a conservative stop loss which is 50...
EURJPY has been travelling in an ascending channel ever since the large drop on all fx pairs.Price is currently at the top of the channel and is also inbetween the 0.50 -0.618 retracement zones which is a golden reversal point.
SL AND TPS are marked out on the chart above ,Potential reversal scenarios are also marked out above. If price breaks out above the...
SHORT POSITION:
Price has broken and retested the upwards
channel as well as resistance.
Now waiting for entry at resistance or enter
depending on market open.
HOWEVER:
Price has already broke and retested
and has double topped on the 1H time
frame, therefore if I enter the RR may
not be as appealing.
I can see a continuation of the bearish trend after a retracement to the 25 EMA due to the RSI being too low.
To support my prediction, I have the bearish trend coming off from a resistance found in the daily timeframe.
The stop-loss has been positioned with respect to the previous consolidation region. An ambitious target price was chosen short of a support...
Hi guys,
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...
Key resistance area has been rejected. It is likely that it'll go down by the end of this week and possibly hitting target 2 once target 1 is achieved.
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