Monthly and Daily direction is Down Have a Triple top on the 60 min TF (shown by Yellow line) Have all elements of a cloud breakout Entry = 1.8772 Stop = 1.8845 Risk = 74 PT = 1.8549 * May want to take some of your position off at the prior low of 1.8670
Monthly and Daily Direction is Bearish on the 60 this pair has formed a double top, shown by the Yellow line (unfortunately I can not show, on the 15, the 1st instance of resistance without losing detail) This trade still needs 2 of the 4 requirements, so is at least 90 min away from setting up. Cloud breakout requirements: 1. Cloud Breakout - Still need 2. Have a...
I have reason to believe that if price continues to rally from here, in what is a downtrend judging from the daily chart, it will be overbought in a Supply Zone (lightly brown shaded backdrop) of the weekly (W) chart, and if it retests the hourly (1h) supply zone (grey shaded backdrop zone) then it will drop. How far? I'm guessing substantial since the supply is...
Looking to take advantage of yesterday's GBP bullish session Monthly and Daily are bearish Anticipating a move down to test the lows Entry is 5 pips below the breakout candle at 1.8774 Stop =1.8818 Risk = 44 pips PT = 1.8670
Although GBP remains Strong, it does appear to be slowing down. As GBPJPY approaches Daily Resistance at 149.26, it appears to be losing strength. what I would like to see, is a consolidation near the resistance and then a move down through the Cloud. As this trade is still several hours away from setting up, I cannot provide an entry, Stop loss or Take profit...
Daily and Monthly are in downtrends. Cloud Breakout requirements: 1. Have a Cloud breakout. 2. Have a TK cross 3. Have a Kumo Twist. 4. The Chikou is below price ** At the Daily Kejun Sen 1.4948 (Blue line), need a close below it Entry = Close f Candle below Daily Kejun Sen 1.4948 (Blue line) Stop 10 pips (+2 for spread) above the Senkou A PT = 1.4720
If you would just take a look at the weekly chart, you would realize that the recent drop in USDJPY is just a matter of a retracement in the bigger picture. The price broke above an 8-month falling trendline, and then retraced back to this trendline again as a form of support for further appreciation. Base on this chart, there's a multiple support within the buy...
Target area represents 0.618 retracement and mid zone of trading range Price broke past mid zone of inner channel and 0.886 retracement S/L below bullish prior signal bar on 2hour time chart @0.96697 T/P at confluence zone @0.97627 area RSI confirming upward price strong momentum Risk/Reward 1:3 (Sorry for the messy chart hehe)
Yesterday we narrowed in on major areas of resistance and outlined why I believe $7,770 - $8,150 will be a great area to build a short. Since then we have shown weakness as the price failed to rally through $6,800. Today we will be checking to see if it still looks like the rally can get to $7,700+ as well as going over the reasons why I am staying out of the...