I am looking for a short untill 183 area, which is point 4 of the wolfe wave. From there I would like to buy if the falling wedge in RSI breaksout north. Targeting at least point 5 and maybe even the sweet area in the wolfe wave. Once arrived there I believe we have a lot of pips to be made at the sellof.
I don't place trades off of the daily timeframes but I do watch them on a consistent basis as part of my top-down analysis and GBPJPY has been one that has been in some what of a fight as of late. After easily rallying up into structure it's come to a halt and it looks as if the bulls may be running out of steam. Just look at the wicks, they're trying to push...
SHORTING NOW FOR GOOD 30 PIPS SL. BASIS FOR SHORTING IT IS SIMILAR TO MY PREVIOUS IDEA. THIS IS ALSO THE DEFINITION OF GETTING BACK AT THE MARKET. THIS IS MY SECOND ATTEMPT ON SHORTING THIS. PRICE HAS ALSO MET WITH RESISTANCE AT THE D1 SMA. THIS TRADE HAS GOOD RISK REWARD AS I WAS ABLE TO GET IN AT 177.95. NOT SAYING THAT THIS IS A SURE WIN TRADE. BUT I HAVE...
AS MENTIONED IN MY PREVIOUS IDEA. WAIT FOR BEARISH PRICE ACTION AT THE RECTANGLE AREA BEFORE RE ENTERING A SHORT INTO TREND. SUPPORT TURNED RESISTANCE H4 50SMA RESISTANCE D1 20SMA RESISTANCE SO AGAIN, BASIS FOR TRADING THIS IS BECAUSE ON THE D1 PRICE HAS BROKEN THE TRIPLE BOTTOM AND MADE A NEW LOW. THUS, IT IS ALREADY CONFIRMED BEARISH BIAS AND WE WILL...
SELL AT 176.95 WITH PRESENCE OF CONFIRMATION. ANALYSIS IS WRITTEN CLEARLY AT CHART TOO. SELL AT SUPPORT TURNED RESISTANCE TRIPLE BOTTOM BROKEN, UNBELIEVABLE W1 BEARISH ENGULFING USUALLY WHENEVER I SEE A BEARISH ENGULFING AT W1 I WILL PLACE A SELL AT 50% OF THAT BAR. 176.95 WILL BE NEAR THE H4 50SMA AND 20SMA THIS TRADE WILL STILL NEED CONFIRMATION AND IS...
GBPJPY got rejected at its 61.8% Fib of the 189.71-17549 decline and is looking primed to extend its declines towards the 170.82/168.02 target zone. All that stands in the way of the bears is the 175.49 February low. A confident break of this level will increase the probabilities towards it target zone. Intraday 176.79 is resistance. Bears have the upper hand as...
Further downward movement for the Pound Yen. Possible target reversal zone at 170.681, then looking a movement to the upside to 196.721
The price has formed new high, in case of 179.139 Level breakdown, the target will be at 178.223 Not recommending to sell of the market, but watch a PA to enter short, as a Short move has been confirmed by momentum - towards the main trend direction. As for now, the SL's above 180.176 Target 178.223 Trading currencies with no stop losses is equal of being on...
Well defined PRZ on this pair for this harmonic formation. Points 1 and 2 are the retracement of XC. Looking for magic 0.786 number. It looks like first target might already be in play.
We're just about to form the CD leg of a potential cypher pattern, so if your trading plan permits you could trade the CD completion, and then the cypher completion. Remember what makes a cypher: - AB is at least a .382 retracement of XA and doesn't have a candle close above .618 retracement of XA - BC is at least 1.272 extension of XA and doesn't have a candle...
@TradeYodha TradeYodha.com (Just my ideas, do you own analysis) Possible GBPJPY 4H Short Opportunity 1. Clear Cypher Pattern 2. RSI reaching overbought level soon 3. 10 SMA and 50 SMA are lagging 4. Must wait for a confirmation (double top and/or bearish rsi divergence) before going short 5. Can take 2 targets close to 10 and 50 SMA
We potentially have a double top for GBPJPY on the 60 minute chart. If we close with the top of a candle or wick at 186.914 in the next hour or two we might see a reversal into the 185.83 area. SELL @ 186.37 BUY @ 186.91 (SL) BUY @ 185.83 (TP) Risk: 54 Pips Reward 54 Pips
THE TREND IS UP AS WE CAN SEE, BUT A NICE REVERSAL IS COMING INTO PLAY SHORT INITIATED... A BREAK BELOW 181.70 WILL TAKE US TO 181.10 BELOW THE 181.10, GBPJPY IS EXPOSED TO MORE DOWN SLIDE. TRADE CAREFULLY STOP IS PLACED @183.30
I'VE LABELED THIS CHART A, B, AND C, SO THAT MY EXPLANATION OF EACH WILL BE CLEAR. THIS CHART ANALYSIS IS BASED ON FIB RATIO (PHI) ELLIOTT WAVE ANALYSIS, RATION SEQUENCING AND CONFLUENCE, I'VE DISREGARDED SUPPORT AND RESISTANCE, AS IT'S MY BELIEF THAT SUPPORT AND RESISTANCE ARE DEPENDABLE ON RATIO CONFLUENCE. A. THIS FIRST SECTION IS THE LEAST IMPORTANT SECTION...