As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.6.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=147.35.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
EUR/JPY has been in a wedge since 21st September and I have been studying this pair a-lot over the last week, A possible retest of the of the 200MA then a drop towards target 1. They is been a big selling market since the 21st of september and we are seeing the response in the market now. 130.208 is a small resistance so if we close above retest will happen.
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.
Bullish Cypher Completed at 147.990.
150.008 is the Fibonacci Retracement 23.6%
Head and Shoulders pattern will be completed at 150.100
Both charts point out 150.100.
Breakout and close above 150.100 will take the price 151.300 and 152.200. Extented target is 153.200
Monthly: In a large descending triangle formation that offers a downward bias. Since posting a Hammer base in October 2016 trading has been mixed and volatile, common in corrective sequences. Ichimoku Cloud offers resistance at 156.36
Weekly: Mixed trading for the last 58 weeks has formed a bearish Ending Wedge. On a break of 143.80 the measured move target is ...
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
GJ - H4 time frame. Trend is bullish on weekly time frame so I'm trading a bullish pullback on smaller time frames. Bank of England is also expected to hike rates in November so fundamentally and technically GBP pairs are looking very bullish.
Long for the pair once breaks past level of resistance. Pair seems bullish overall having put in a higher low in the daily, and will enter once price closes past shown level. GBP news coming Tuesday and Wednesday could give it push
GJ long idea after price initially shot up, then pulled back into a key area putting in a head n shoulders pattern on the hourly signalling pullback has finished and hopefully ready to continue pushing higher.
New higher lows and higher highs have been formed over the past few days. To go long on this pair I would look to see how price reacts around yesterdays highs / the key area of previous resistance. A clean break of this could see more bullish momentum from this pair
Following on from the potential short opportunity I saw yesterday (currently still playing out), if you trade this pair and also trade advanced patterns then there could be a potential entry into a bullish trade right as the bearish move from earlier might start running out of steam.
Not a pair that I currently trade, but this could be a nice example of trading ...