USDCHF seems to be heading short following the trend again.
This is the classical trade to be taken early in the trend and compound, adding to the winning position after each retracement (break of the light blue reversal line).
Hopefully this is going the same as the others.
this is a very basic concept of a structure trade. As you can see above on NZDJPY price just came out from a consolidation period and put new structure highs. At this moment i know my bias would be long; but i can't enter a trade long on the top of the movement, i should wait for price to give me a better entry in order to catch the upward move.
This chart has been not easy to create, both because it does not show data below D1 and I was interested in H4, and because the price vary from my broker. Anyway...
#Cocoa (US futures Mar 2017) is close to a support in its retracement and might just go back again to keep its bearish trend going.
Actually, on my broker the current bar (with no shadow) is exactly...
The retracement line on M15 and on M30 is squeezing the bars towards the Fibonacci level at 1.04958.
The same trendline holds for H1 as well (see )
A bar closing under that trendline would probably lead way to a further continuation downwards,
The trend has been short for a bit now as you can see on both...
Here we have a bit of a messy Cypher pattern on EURJPY. I entered this late last week and thought I had made a post but must have missed the publish button. Since entering the market has rolled over about half way to first targets, but it will be interesting to see what happens going into next week.
Will be hoping for the volatility to pick up...
My bias for EJ currently is long. I do believe we may see this pair touch 125.000 , within the next week or so. after a strong bullish run , price is now stalling , possibly taking a break. I know there are a lot of people who may be trying to sell this. Currently price is at the 123.000 are and seems to be holding well, spotted an opportunity here, should we have...
GBPUSD broke out of the upside trend line and the move down has stalled within previous structure.
Price now must close below 1.122000 to confirm further downward bias.
With the Supreme Court ruling on if the British Parliment must vote on a deal to leave the EU due mid-Jan we may see price trade sideways until the verdict is delivered.
Any pull backs to fib lines i'm shorting since the key level of 118.5 got rejected I feel that a down trend is in play as long price stays below 118.5
I would like to see how price reacts at 116 If it is violated further shorts will be taken to 115 then 114.
Happy new year.
Here is a nice Trend Continuation Trade on GBPJPY. Made a deep retracement right back into the previous structure level which is holding. Great opportunity to enter a low risk short position with the overall bearish trend. Target would be a retest of previous lows and could use an advanced target to shoot for a 127.2 extension
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
Going to play either a momentum long move with a 61.8% retracement, or will be short the market at the 127% extension. Planning to let the market decide where it wants to go and take a good RR. Both trades are over 3:1 risk reward:
LONG @ 1.7740
S/L @ 1.7594
TARGET @ 1.8150
SHORT @ 1.8030
S/L @ 1.8105
TARGET @ 1.7820
EURJPY battling to break the 127% extension. looking for trendline break to open up a potential retracement to 118.50. Will drop down to 60 min chart to look for short opportunities if we see a trendline break.
A couple weeks ago, I was probably inclined to short NZDCAD. Now the picture seems different. There is some disrespect for the weekly band of resistance and there is a complex upward trend that could strengthen.
Sound traders shift their mindsets as new information emerges. I'm long on NZDCAD, having contracted to lose a controlled amount (alias stop-loss). This...
today i show you something i've found this morning during my analysis.
There is a deep gartley formation completing at 1,0686s right at previous structure with the trend in our favor. I always like this kind of setup cause you could shoot for extended targets.
I will be more careful than usual with this pattern cause tonight important aud news are...