This is a butterfly setup that I have spotted on the H4 timeframe on GBP/USD. Its a solid retracement before going downwards. Lets see how this trade plays out. Should reach around .382 retracement and hopefully even reach 0.5 if we can get lucky.
For people who trade EURJPY there is a further bullish continuation setting up on the 4hour. we are coming back the trend line of the current upwards move which also fall in line with some Fibonacci confluence. if we can reject that trend line once more and close above 122.800 this will signal a buying opportunity up to targets at 125.500 with a nice risk reward
Hello Traders!
We see the strength in USDJPY continuing as the Fed is fully behind their Hawkish tone. Although economic conditions have been very weak, in our opinion, the Fed is satisfied with the current rate of unemployment as well as inflation, their two main factors when looking at the economy and how interest will impact the future.
Our research...
www.screencast.com Pole here possible with a BHG to 120.30, 300 pips possible
Wide Open Space here.
Also she may break down to the 50% fib before the run up.
Note:
GBP/AUD follows our prediction last week.
We remain bullish on this pair.
There are 3 trading plans for this pair:
1. Zoom into H4 chart, there is an immediate
resistance line at 1.715x level, wait for price
correction or pullback to 20-EMA and bullish signal
to long
2. Wait the price pullback to support zone and
bullish signal to long
3. If the...
Note: EUR/JPY follows our prediction previously.
Overall, we remain bullish on this pair.
We have 2 trading plan for this pair:
1. We wait for pullback to the support zone and
another strong bullish signal to long with right
risk amount
2. We zoom into H4 or H1 charts to look for pullback
on 20-EMA and long with little risk amount
Caution on the BOJ Policy...
