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...
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...
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...
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,...
If we take a look at the daily timeframe chart of GBPJPY we can see there has been some strong GBP price recovery following the JPY flash crash on January 3rd, 2019 - this is followed by some consolidation within Kumo. More recently, if we focus our attention on the daily Kumo breakout that occurred on Feb 8th, 2019 (which...
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...
this is my last idea for this year. I hope it'll bring you some insights. First of all, the yellow box is representing a good structure level in the daily and weekly charts, that is the basis for each and every trade i place. After that, you can see the D point of a Gartley formation (though it's not valid at the moment) right near this spot. Alongside,...
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