Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links) Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days. Expected price target for this play is 130.90
AFTER A BREAK OF THE TRIANGLE/DOWNTREND, GBP/JPY APPEARS TO BE BULLISH AND OFFERS UP A DECENT RISK TO REWARD TRADE. ON THE 4H CHART THE 150/16 DAY MA'S HAVE TURNED AWAY FROM EACH OTHER FOR THE TIME BEING, INDICATING A POTENTIAL CONTINUATION OF THE LONG TERM UPTREND. TARGETS CAN BE SET AT 193.90's, A BREAK OF THIS LEVEL COULD LEAD TO AN EXTENSION OF 194.35, THEN...
The possibility of the down move continuation, details on the chart.
EUR/JPY finding resistance at 139.50's, price action on 1H + 4H looking indecisive/bearish. Long term trend line break adds further confirmation of short bias, short term down trend has formed on 1H time frame. Three tests of structure resistance on 1H time frame also indicates lack of upward momentum, short term bullishness is only abouve 139.50's. Looking...
Details on the chart. News are coming, and there is a possibility for EUR to go further UP. However, the major trend is still down. Selling the euro is probably better off the areas mentioned on the chart.
As another point of view, the DXY can be at the end of wave 4 of the current down move, so wave 5 of a larger grade has not started yet. Depending on how the day will be closed, it will possibly give us another buying opportunity for the dollar - opposite currencies.
With 2 consecutive bullish days, the US dollar index has confirmed it's reversal. possibility is that the wave V is at it's beginning. the T-junction for it is at the 93.75 area. In case if the area is broken down - we will have to change the view.
Probably EURUSD return to 1.3500 level and offer good opportunity for short position. The other possibility is that it continue for the 1.1500 or 11550. Pay attention to break out!
The pair fell to 1.46569 Level. Some participants missed the move and would like to have a peace of a pie. Basically one of the entries can be the breakout of the current local low, but, there is possibility that the upcoming US news will define a current low as a low for today. I suggest to wait till the pair will move towards 50% - 61.8% Area to sell. but...
In case if the price will be holding beyond 1.0585 Level, it can be signal to go short with a stop loss above 1.0610 However it can be a false breakout.
Sell Stop order at 1.47228 Target 1.4525, I also suggest to trail. Stop Loss above 1.4780 I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy), Sometimes I prefer not to wait till my SL is hit.
The pair is showing strength, and a possibility of continuing it's up movement towards 1.2950 is Highly possible, due to a pair's behaviour I suggest Using a limit orders to enter. The limit orders areas: 1.27737 1.27480 1.27330 The Lowest Stop Loss - 1.2730
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...
The pair's price has formed unwritten highs on a 1h chart . The PNF gives a potential target at 123.75. The correction can start of the 121.50 level, but is less likely, as a bullish market continues. In case of a non-false 121.50 level breakout, the target is at 123.75 and SL below 121.100 I suggest to use a “timing” stop (Close if the price will not go in...
The pair is in a bearish mood on a daily and 4h chart. At the moment Sell with SL above 1.0725 1st target at 1.0500 2nd at 1.0325 I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy) P.S. Using a small stop losses in my strategy makes them triggered quite often,...
The pair has broken down the 1M Support. The target for this move is 1.4750, However News can have an effect. Sl's above 1.4900 I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy)
PNF, using a HC shows a reached target at 127.50 Next target is 126.25. Because of the Yesterday's move, we can expect the congestion in the 129.00 Area. Ranging market is expected. Consider Sell Limits above 129.00 with SL's not more then 0.25 p ant TP's at 128.50.
The pair retraced almost to 50% of the previous 4h down move. At he moment it gives selling opportunity, but the correction can take another swing, so be careful. For now, the nearest support area is at 0.7650 at the moment for a short set up: Sell Limit order at 0.7675 Target1: 0.765 Target2: 0.761 Stop Loss: Above 0.77 I suggest to use a “timing” stop...