Finally a win. Weekly was making lower highs and lower lows - great downward trend. Downward trend had broken then longer term underlying monthly up trend. Took the trade off the 4HR - Saw a mini head and shoulders pattern emerging and thought Id risk getting in early and the formation of the top right shoulder.
The Nikkei is currently in a 10 week decline and hasn't reached its target. Today we observed a sharp retracement thanks to crude oil's short covering spree, and a very dovish Mario Draghi, sending ripples through the global markets. I expect the move to the downside to continue, after the Vix fell for more than 7 points. There are levels of support to be tested...
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it is not so perfect because C point don't reach 61,8
CHFJPY is in the area where a possible breakout to the upside will come, if it comes it will present an opportunity to go long short term.
Three drives pattern completion at previous structure level.
I know CHFJPY is not a common pair but I can not leave it when I get a signals. Right now the market is on the resistance. On one hour time frame, the market formed a doji. It is having difficult in crossing that level. There is a high possibility the market will reverse and continue with downtrend. I will hold a little and watch how the volumes will appear and...
I think that the trend continues towards point 5 and then follow the abc wave.
yen seems to be weaking, while do cross pair analysis, many xxxjpy has reached the demand level.
Expecting further downside in the pair and short opportunity once price breaks below the structure shown in the chart. Breakout we will see probably very soon and is going to be huge in my view.
The descending triangle pattern on H4 chart of CHF/JPY provides an opportunity for a bearish breakout. The pattern's borders are marked with the yellow lines. My potential entry level - the cyan line. My potential exit level - the green line. Stop-loss is to be set to the low of the breakout bar (not shown). More information, chart template, and free EA to...
A descending triangle has just formed hinting for a continuation of that bearish trend. According to fundamentals the swiss franc is facing a very weak period with surprisingly low retail sales data, compared to japanese yen benefiting from a positive balance of payments. Price should target the first meaningful support level around 115.50.
I'm shorting this pair with first target at 115.65
SGDJPY broke major support line in daily time frame, so support becomes resistance, I think this pair is now on pullback mode, after major support breakout, and projection of D point is just in resistance zone.