I will present this opportunity in a simple way and clear!
EUR JPY has been creating HH and LH , from the 3 week of the year. That been said, we simply are applying a ABCD.
Possible C 125.027, where the 61.8 % fib is located
and the possible D 126.372
I hope this that help you guys.
All the best
EURJPY is now at resistance. Gonna be waiting for confirms strictly with price action.
Otherwise, we will be long to the next zone.
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Currently have what looks like a retracement on the downtrend with EURJPY, up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for...
We have a potential Head and Shoulders pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000 level. This would coincide with a large demand area for the pair to then turn bullish and begin climbing to the upside. If it breaks the daily pivot level of 132.665 and closes under it I will look at shorting...
Currently rejecting 0.382 Fib level at 132.213 and I think this level is going to hold, potential short with an entry around 132.000 and if price holds out past daily trendline then this pair could continue to melt down to 130.400 area.
As you can see on this pair, although we made new highs for the last 12 months recently (seeing a close above 124.000) we have also seen a struggle to maintain above this level.
It looks as though the recent bullish run is running out of momentum and I think we can see 122.000, if not lower, pretty soon.
Monthly MA's are still down, and the Daily MA's are also...
Confluences are on the chart.
Confirmed downtrend with lower highs and lower lows
Looking like its reversing into 5th wave
MA crossover on 4hr TF
Rejection of long term trend line with tweezers forming on the daily TF
My tip is wait for the daily to close as a doji or spinning top. Stops above previous spike (122.090)
Two days before the first round of the presidential elections (23 April), the uncertainty remains high. Take the opportunity of a risk-friendly scenario or a strong risk aversion scenario by pending orders of both sides. The nightmare scenario for the market would be a second round between Far-left and Far-right candidates. Trade the EUR against JPY, considering...
here we have a double bottom at a previous structure level on the 4hr (in this case our higher timeframe). The last candle signals also buying pressure, together with RSI divergence. That's enough for me to consider taking this trade.
Stops below the low, first target at the retest of the highs, second target at 618 retracement of the previous move.
another pattern on the horizon, this time on EURJPY. The black line indicates a daily structure level, and right there gartley's gonna complete on 1hr chart. This is a good reason for entry for my rules.
Stops above X, targets as usual.
If you have questions, please ask below.
Otherwise, see you in the next chart!
if you remeber i posted a 15m flag pattern that cost me a loss on Monday (see attached analysis). The analysis is still the same though, only the timeframe has changed.
We've already broken to the upside this formation: you could buy the close of the breaking candle or you can wait for a deeper retracement in order to have a good risk to reward. It's...