As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=145.8.
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=145.6.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Good morning traders,
Looking to change up our recent technical analysis examples this time with a clean trade on Euro versus Japanese Yen. The beat on Chinese gdp and Industrial production gave a risk on tone overnight leading to Yen weakening but also, for this pair, an Evening Star candle forming on the daily over the 15th and 16th. Evening star are early...
Here is my simple set up on EURJPY for this week if we see a pullback. This may not happen if Euro strength / JPY weakness continues but if there is a pullback then this is my ideal entry.
- Bullish TL now broken.
- Retest of this TL
- Higher low to be made using previous resistance as support @ 125.600
- 4hr bullish TL (higher lows) is intersecting this area...
GBPJPY has reached a daily/4hr support at the Fib 0.618 retracement level. We have multiple bullish wick rejection candles closed at this level and it is looking good for a new push to the upside.
Profit Target is at the Fib 27% extension and then previous highs at 148.500
Stop Loss I have placed below the wick rejection of the 0.618 fib level
Simple trend continuation trade on CHFJPY.
Higher lows and bullish trendline with price now rejecting the Fibonacci 0.618 retracement level and TL.
Higher lows showing bullish momentum is still present so there is potential for CHFJPY to now break the resistance level at 112.00 and make a new higher high.
Stop Loss is at 30 pips to leave it below the 0.786
Here we have a simple 4hr trend continuation trade on GJ.
Price has made higher highs and lows on the 4hr timeframe and has now broken a descending bearish trendline. I will be looking to go long on the next 4hr higher low which lines up with a trendline bounce.
Fib 0.618 lines up with both trendlines intersecting so this could be a high probability set up....
Good morning traders,
And welcome to a new week- our recent tradingview charts were unfortunately removed due to us breaking house rules of including our website in the title. So we are reposting this US dollar Japanese Yen setup from Friday which is still live. Friday was an extremely technical day with option expiry's driving Yen pricing into the end of the...
NZDJPY Short set up after last weeks lovely bearish action.
4hr bullish trendline broken.
4hr lower low made last week.
I am shorting on the retest of broken trendline, multiple rejections of the Fib 0.618 level and lower high forming.
SL comfortably above 0.786 Fib
. There is a possibility of temporary retracement to suggested support line (75.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
Short trade set up with good R:R ratio and it should also provide scale in opportunities when the 4hr trendline is broken.
Entry 1 is on the Friday daily close with a large wick rejection candle.
Entry 2 is on the 1hr lower high and rejection of previous support/resistance zone at 79.200
Targeting previous daily/weekly lows at 77.500 if the 4hr trendline breaks.
EURJPY short trade set up based on the 4hr and daily timeframe analysis.
- Daily chart made a lower high last week and is now pulling back to the 0.61 Fib level.
- Price has rejected the daily 50ema from below
- 4hr price is stalling at 125.500 key level
Targeting new lows on the daily and 4hr around 122.800
GBP Long Bias
- LogicStrategy score shift of +14 points towards strength
- Core Retail Sales m/m show better than expected changes in retail sales in the given month compared to the previous month. The index calculation does not include auto sales and fuel, which tend to be very volatile. It is an indicator of consumers spending that allows estimating the...
Here we can see another strong support that has formed and has also been used as resistance before, price is nearly at this level now and we are expecting a bounce and a bullish run up to our resistance zone ( green box )
If we get this bullish run and price does turn at our resistance zone there is a possibility that a head and shoulders chart pattern will also...
Price broke through our TL to the upside but then hit strong resistance, bounced off resistance and now is currently breaking back through our TL to the downside.
We will be keeping an eye on this trade next week to see if price bounces off our strong TL and makes further moves down ( bearish )
This is like the age old question... should pineapple be on pizza?...