I think now is a good time to add an extra short position to FTSE100. I am still short from 6312 and 6300 and looking for new lows to be made.
TP1 = 5800 support zone
TP2 = 5725 (bearish trend to continue)
I have a long term bearish swing trade bias on NZDJPY and the 4hr timeframe is now looking good for a further entry.
Nice retracement to the 0.618 and price support/resistance zone. Simple trend with lower highs and lower lows being made on this timeframe. Price has pulled back in to the 4hr 200EMA zone.
Price targets are on the chart.
GBPUSD looks like it is beginning to rollover to the downside once more.
Technical analysis shows a bearish trend with 4 waves completed and price looking like its trying to push to the downside to make the 5ht and final wave. I am bearish on the USD but the Pound is weak right now and you can't argue with these clear technicals.
Let's see if Cable can make a...
Potential for a intraday reversal to occur here with a lower high to form. This would then see price start to make it's 5ht bearish wave down to a new lower low at the 27,500 support zone or lower.
Price is inbetween the 0.786 and 0.618 fib retracement levels so shorting would need a conservative stop loss placement in my opinion. There is the 1hr 50EMA to keep...
GJ showing multiple signs of rejection @ 140.00
1hr timeframe chart shows 3 clear tests and rejections.
I can see an expanding wedge pattern forming and bullish momentum is dying off here with price making its way sideways now. A short here could see s good drop down to the previous intraday support @138.500 or lower.
A further price target could be the lower...
Double top formed @ 1.31500 last week.
Bullish trendline broken.
1hr lower lows now made.
Price is now below the 1hr 50ema and it looks like we might see the 50 cross below the 200 this week.
I am looking to short this pair down through the next price support zones. Some nice R:R to be made if it continues to sell off.
Important! There is the UK GDP data later...
Multiple confluences showing signs that GBPUSD might sell off from here.
Multiple profit taking levels shown along the way using intraday support/resistance zones. My stop loss is placed above todays wick rejections and price resistance levels.
GBPUSD price action is now very sideways and a clear channel has formed which is around 150pips in range.
Looking at price today, I can see it is now back at the 1.26500 resistance. There are 2 potential trades here, if price rejects this zone and forms another high then shorting should work well.
Alternatively, if this 1.26500 resistance is broken then a retest...
Nice resistance and potential double top @ 1.14.
Shorting here and targeting the bottom of the current price range which is 1.12. If that level breaks then price should fall further to 1.10. Alternatively a bounce off that level will see the sideways price action continue.
I am again shorting GBPUSD @ this 1.25 intraday resistance zone. Looking for more downside so I am targeting the next support zones @ 1.22500 and 1.21 for profit taking.
Stop loss above the current highs. Good R:R on this one.