Orange arrows = strong support
Price is coming up to test a very strong support level, now we could se price test this as new resistance or we might see price break this level then retest this level as support again then push price higher into our zone ( green box ) where we expect some resistance, so this is where our TP will go.
This trade is good for 30 pips...
We have a strong trend line formed which price is currently at and a strong SELL zone which price has just entered STRONG SELL.
We could see a run down to our support level where we will be looking for a BREAK as we are near the end of a descending triangle.
This is all.... Thank us later.
142.019 area is such a strong support ( orange arrows ) if you cant see this then go get your eyes tested and please stop trading as you will only bankrupt yourself.
This level has also been used as resistance before ( purple arrows ) so we will wait for the 4h candle to close to see if we are going long like we anticipate, either way we will have orders in place...
Here we have a Descending triangle formed, this is a bearish continuation pattern and are formed in an overall downtrend, if you get the 4h chart up and zoom out you will see we are in an overall bearish market.
Descending triangles are a good signal, but we still have to watch and wait for a breakout of this triangle as nothing in Forex is guaranteed, a breakout...
From our chart you can see a STRONG resistance level ( green line ) and you can see our TP/support zone ( red box ) we are using this zone as this has been a KEY STRONG resistance turned support area in the past, this is probably where the big players and banks set orders hence why these levels are so well respected.
Remember if you can change your mind-set to...
142.083 is an are that has previously been used as old resistance and more recently it has turned into a key support level, Price is currently at this level now so we are expecting a bounce and a possible run upto our TP zone ( blue box )
On the chart we have marked out with purple arrows where price tested this level as support and the blue arrows show where...
143.581 - 143.379 is a lovely zone, you can see where price entered it and bounced bearishly ( to the downside, orange arrows ) and bounced bullish ( to the upside, purple arrows )
You can see the importance of this area, its like a sh#t city, nobody wants to stay or live there but you have to pass through it to get to where you want to go.... The candles are...
GBP JPY, I simple trade. I want to put a clean and simple chart , so I decided to just show the directions! However, If you would like to know and learn how we analyse this pair, Please drop up a comment!
At the exact moment this pair looks that will reverse back to 143.604 and then the sellers together will take the price of the pair to South !
However, a...
From the chart we can see that a VERY strong and reliable trend line has formed, this trend line is been used as both support ( purple arrows ) and resistance ( green arrows )
2 weeks ago price came up to test our trend line as resistance eventually breaking this level then pushing price higher, then last week price came back down to test this line as support,...
Look at the levels of continuation and factor inn if still looking good for the sell off as GBP is very weak against other major currencies this week.
EYES peeled for political outcome of BREXIT 'Deal or No Deal'??
GBP/JPY has shows some strength last few days but is looking to retest the Green Box area before pushing past 150.000, Ichimoko has been called back in and is in the green zone looking towards the bottom of that zone.
Still holding positions from 150.858 now up to 152.397 - Have a TP at 155.850 for remaining positions then will be looking at selling the dip. Would like to know other peoples opinions on this and if anyone is doing anything differently
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