Sell below 0.7697. Stop loss at 0.7725. Take profit at 0.7634. Reason for the trading strategy (technically): Price is approaching major resistance at 0.7697 (multiple Fibonacci extensions) and we expect a strong reaction off this level for a drop to at least 0.7634 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing...
USDJPY is now @ critical resistance zone shown by confluence resistance zone. Interesting candle formation currently underway. However we need a daily close below blue resistance turned support trend line to confirm definite further decline and a bearish continuation of former trend which began on the 4th of January 2017.
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896. Reason for the trading strategy (technically): After making its bullish exit of our long term descending resistance-turned-support line, price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support,...
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896. Reason for the trading strategy (technically): Price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to 1.0896 resistance (Fibonacci retracement, horizontal overlap...
Hi traders, This is an aggressive set up. I'd recommend you to wait for a confirmation signal to enter it :) The price is stopped and bounced back on the trendline. Although it has a full bearish candle, I think the short term trend is going up. **Trade with care**
Talking Points: Technical Strategy: Turning Bearish Elliottwave Count : We are in process of completing wave B. HTG Note: Near term outlook suggesting to have one more leg up towards 0.89523 where wave (B) can be completed, post that, we can expect temporary bearish correction kick off which can be targeted well below 0.8010. Action Wait and see...
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Sell below 86.52. Stop loss at 86.75. Take profit at 85.63. Reason for the trading strategy (technically): We remain bearish below 86.52 resistance (Fibonacci projection, Fibonacci retracement) for a drop to 85.63 first (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing a nice reaction off our 94% resistance level.
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Intraday levels for 20.1.2017 I use PT 10 pips, SL 12 pips. Happy trading