The Nikkei index broke up the long-term resistance level. In such conditions, the yen may consolidate and break through.
We took a short on USDJPY before NFP on friday in our trading room, however I think the NFP move is not a good indicator of the bigger picture. This is a swing trade.
CADJPY is forming very well to buy and back to uptrend on Daily/Weekly timeframes. I can see huge resistance in front of us with strong trendline which is holding for a long time. We are watching for break Trendline + Resistance, retest and then buy until 84,8 area and then higher. First tp: 84.8 area Don't forget to trade with proper RM/MM and caution Good...
As posted earlier today on my telegram (t.me) I'm currently short from just above 116 with targets at 115.500 followed by 115. We see a bearish divergence together with structure and trend line coinciding. We do have a fibonacci 0.382 at 116 level aswell. While posting this I see we're breaking the "V" low of the double top which gives us yet another signal.
Price put in a double top, failing to close above 38.2 fib of X - A. In conjunction with fibonacci, and the double top, we have a strong monthly support and resistance area which could help us with this short. I see high probability in this one, I am not looking for extended target(s) this time. As we could, potentially, look at a bullish (temporary?) release...
Price action has not yet told me to go long, and since there still are bearish signals to this I'm sticking to my initial target of 120.000. So far we have managed to bag 150 pips during the last 7 days from this bearish fall. Lets see if we can continue this pip-hunt, all the way to target! Before I start to consider a bullish approach, I need to see a break...
Continuing bearish outlook as a follow up on last weeks successful entry () Basing this on price action struggling to close above 121.350 - 0.382 fib of X-A IF we break out above, we will possibly find another opportunity to get short around 121.800 - 122.0 area. Final target - 120.000
Completed ABCD with close BELOW falling trendline. Ive been eyeballing this area for some time. My targets are as shown on chart. Lets see if we can pull some pipage out of this. If, however, we break and close above I will look for long entry. Entered at 122.279 Stops above previous high
Short Renminbi for last leg ( the last meal) Stupid is paying the price again and again. Among those central banks, PBOC is the worst one. They're too old to realize the turning of the culture influence and the huge inflation will be there in the future. This is called NO "wen hua". I have never shorted Renminbi before but NOT this time. This is a clearly signal, BTW.
Basing this entry on the following clues: ABCD completion Double top with bearish divergence at D completion Spinning top Falling trendline just above double top and D completion Previous support and resistance area Psychological number 120.000 Target conservative 0,382 fib of C-D Lets see how we do
My clues, X-A 61.8% fibo reversal 1.618 fib extension Overbought condition Trend line resistance We also have historical support and resistance zone within stop loss. Target 1 - 0.382 fib of the leg Target 2 - historical support and resistance zone, just above 0.618 fib of the leg. If, however... Plan B, if break and close above the falling trend line, I will...
1. Bearish bat formation which turned out a winner, but not before putting up a fight. I entered this one since we also had a previously tested support and resistance area. 2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal....
I'm basing this idea on two main keys - Bat pattern - Broken bullish trendline (lower pennant line) .. And the bearish rotation supports the idea together with previous structure zones which should act as resistance. Lets not forget overbought conditions! Second scenario, and one that would stop me out, is the retrace into pennant before continuing its...
My reasons for entry: Completion of bearish Gartley (D) D also coincide with broken trendline which should act as resistance We have a lot of previous support which should aswell act as resistance. Placing my target safely above previous proven support areas looking back. I could ask for more as for taking profit, but I rather take small safe pieces at a time...
Entering at 115.580 on following basis; Advanced pattern - Bat - D completion. In conjunction with the completion of the Bat we have bearish falling trendlines (long term + short term). We have structure and on top of this we have RSI showing overbought. Target is 38.2 fibo of A-D leg. Stop loss at a level where Im considering myself to be wrong. - Above...