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USD/JPY couldn't break the monthly support of 112.02 convincingly, hence a reversal in momentum following the rejection of this level. Price structure has been broken as the consolidation zone and both the EMAs have been taken out as the previous candlestick has closed above on the H4, enticing a strong bullish move. The 61.8 fibonacci retracement has been ...
Need a breakout of DAILY KEYLEVEL & possible retest from the other side (0.7202) before placing SELL trade.
Bitcoin absolutely smashing through this resistance. Starting to give some nice structure to use technical trading with.
in front of you you can see two charts, and that's because i wanted to give you a better perspective on how i look at the markets. As you can see on the left (daily timeframe) price has recently broken and closed above multiple resistance levels, which is an indication of a long bias. Therefore our mindset is now on "buy opportunities" and we can take a ...
from price action recent big move to the downside it has pulled back into structure. in doing so has formed a bearish gartley formation.
I am already live holding 2 positions. Entry was at 1.30156
stopps at 1.30347
1st Target 1.29862
2nd Target 1.29658
as you can see in this chart price has already broken and closed above the last structure level looking left. What does it tell us? It tells that the trend is confirmed bullish and therefore we're going to look for trading opportunities only in that side.
As always, we don't want to chase price action, instead we wait for it to come in our comfortable ...
this is my daily outlook on USDJPY. As you can see price has come back to test previous support zone that once is broken should turn into resistance. As of now, price has already showed some rejection signals, but it's not enough.
Watching closely to 1HR and 4HR in order to find shorting opportunities.
Keep you updated.
If you want to share your view, ...
just to let you know why i'm shorting this pair, price has reached a key structure level (blue line) and here it's formed a nice double top with RSI divergence.
Stops above the highs, target1 and 2 as displayed in the chart.
If you want to ask questions or share your view, comment below.
Otherwise, see you in the next chart!
this is one of the simplest method to read structure, in a downtrend, when a support is broken, it most likely will become resistance once retested. Stops above highs, target1 81,2x level. Target2 to be determined.
Don't know if i'm getting involved since i have two other CAD pairs on my watchlist.
I'll let you know.
If you want to share your view, or ...
Currently long after the D Completion leg reached previous structure & RSI over brought looking to ride this dragon up to previous structure
here on AUDNZD price has recently created new structure low. Besides, there's no structure looking left until 1,0750. That's why i want to get involved in this trend continuation trade.
As you can see, price is now coming back to retest previous support, which once broken could become resistance, and it's having some troubles getting beyond ...
i want to share another analysis of mine on the Gold. As usual, it starts on higher timeframe. On the left hand side you can see the daily chart where i began analyzing this, and you can see price is approaching a structure level that acted as support two times in the recent times lining up with 618 retracement of the bigger impulse leg.
In addition ...
A broken bullish trendline, now acting as resistance
Several previous support levels broken, now acting as resistance
What could go wrong?
Well, we shall see!
today i got long on this pair, due to an advanced pattern formation known as "Bat" formation. This pattern completed right at 4h support and therefore i know it could be a nice zone to buy. Stops below X, targets at .328 e .618 retracements of AD leg.
Feel free to comment below for anything.
Otherwise, see you in the next chart!
We have a bearish bat formation on hourly chart, which is already triggered and tested PRZ half way.
And also this zone is previous support/resistant structure.
This one can be good trade with risk reward around 1.5 at the first target 38% FIB lvl even when you place stop loss 10 pips above the whole PRZ, you can aim for target 2 at 61% and so on.