So you have the "perfect" setup; all the stars align and you feel utterly confident in taking the trade, but should you? I have a process that must be completed before I even think about pressing the trigger.
Fundamental analysis points me in one of two directions, then from there I'm either short or long. I then look if there is a technical entry point that...
This pair is a fixed pegged currency pair ....right now price is just 10pips away from 7.8500 peg price. Going short is the only way for this pair at the moment except there is a change on the agreement on how this currency pair is managed.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero line.
The oscillator Force Index is above the zero line.
If the level of resistance is broken, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 372.00
• Take Profit Level: 380.00 (800 pips)
If the price...
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero line.
The oscillator Force Index is above the zero line.
If the level of resistance is broken, you should follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1145.00
• Take Profit Level: 1160.00 (1500 pips)
If the price...
The first spike was huge, the second was bigger and the third.....
The first looks like a dwarf now!
What happens in 2 hours or so will be insane regardless of which way it goes!
As you may recall my short on EU a couple weeks ago if you was in it you would of gained 200+ pips or 10% if you risked 1% here is a completed chart and the sight of a possible reversal to actually complete this pattern.
After the positive NFP Reports on Friday, we are now seeing the Dollar gain back some strength which has seen FX:USDJPY form a Inverted Head & Shoulders for a possible trend change back up to the upside.
Technical & Fundamental Analysis are strong here supporting this LONG Trade idea.
