Price reacted on 50% of fibo. If this local support will be broken, there are two areas where potential bulish reaction can occur. These are two deeper retracement 78.6 or 88.6 that fulfill harmonic patterns.
Currently sat around our 152 whole number price, resistance is around 20 pips higher at 152.200, a lower timeframe structure break and retest would be ideal, seen some big extensions amongst most ***YEN pairs...
Even USDJPY is pulling back upside towards resistance, bearing in mind we were dovish off the back of the PC yesterday evening.
Really interested to see what happens as we approach our 109.200 price again. A double bottom/support confirmation would be great to look to trade long back up to the previous high price of 111 ish.
Really good RR on this trade offering in excess of 1:6. Keeping a close eye on other ***YEN pairs and also DXY.
Hi guys, another trade well executed on Wednesday which activated our TP1. once our TP was hit we monitored the trade closely to see whether we could achieve a higher high target but eventually we realised that price was going to pull back and decided to manually close our TP2 for a further 35 Pips. all together on this pair we have achieved a massive +70 pip...
DXY is set to continue getting stronger, gold seems to be getting weaker. This is bad news for the the Aussie Dollar.
There's a head and shoulders structure formed on the daily with the neckline formed roughly around 0.76.
Last night, we broke the 0.786 level that was previously a 4 touch support. This is a perfect place to short due to:
Strength of the...
Following on from my previous idea, the FTSE has continued to show strength at this level of support.
A triple bottom has formed at what looks like the bottom of the cup in a cup and handle pattern.
If FTSE traders were bearish, the drop from the rising wedge would've been steeper. The news around the vaccine spat with the EU would've also likely caused a...
Quick intraday play. Swisse is rangebound and currently at support. DXY has pulled back currently but looks to get stronger over the coming days.
Strong trendline + fib to act as support
Breached lower BB
See chart for entry and exits. Exiting at previous day close, stop below thrust candle/trendline.
Happy trading:) follow for more.
Seeing some decent corrections across EURO markets this morning, specifically EU and EJ which is good for us and what we have marked up. We have been waiting for an EJ correction since early last week!
We are always scouting for our H4 entries, so sizeable corrections like this are good for us and how we trade, especially when markets are very one...
Fast approaching that 1738 price we rejected nicely. Strong supply zone when has held comfortably. Would be an absolute sniper entry to see something like this unfold.
Also looks like an inverted exhaustion pattern, so a break above 1740 could be a break of resistance/supply and we could maybe scout longs upon a retest. Early doors still so lets see...
Broken support with ease last week, seen a nice retest of the underside (now resistance). Looking for a confirmed second test or resistance. Based on order details supplied, another selloff down to the breakout low would still offer 1:3R.
A break in excess would send NZDCAD sinking, as long as we can maintain this CAD strength in line with it's...