We all love a pending order where we can set, forget and collect.
Set the order
- Pending buy @ 107.700
- Stop Loss @ 107.200
- Take Profit @ 110.00
- We can leave and forget our pending buy with some confidence due to the quality of the setup. This is a straight forward Fibonacci setup on a high timeframe, using a high timeframe adds weight to the price...
Price has formed an expanding wedge formation on the 4hr chart. This Index created a New ATH on 25th July and has since been in a bearish move. We feel the price will complete a retracement to the 38% Fib level before continuing in it current direction towards the 127 Fib Extension. Bias is still Bullish, and once our current target is reached, this Index could...
finally after the 15th of april high was hit now retraced to the 61.8 fib could touch down to the 71.00 fib but looking to a new high to TP1 -27.00 fib extension this is a risky trade as we do look in a strong down trade but eurojpy usually respects the fibonacci
32,8 Fib Retracement
Confluence of 141,8 and FIB extension and 161,8 Fib Inversion
Be aware we have a Inverted Head and Shoulder Pattern so we can expect only a pull back to 32,8 Fib of the last movement (Orange Zone)
Counter Trend and Trend opportunity on OIL
- OIL approaching resistance the 61,8 FiB and Upper Trend Line
- RSI is over bought and we have a big RSI divergence
A pull back is expect back to 60.00 level (Confluence of 38,2 Fib and 61,8 Fib retracements)
Looking for a breakout from the triangle to the upside. Entry would be at 1.34700 once we have taken out the 7th of March high. Ideally we will see a bullish crossover on stochastic to confirm momentum is on our side.
Target 1 = 1.618 Fibonacci level
Target 2 = Projection from triangle measurement