Confirmation is big part of trading and waiting for it - always look for at least 2 or 3 additional reasons why a trade is a buy or a sell.
We make mistakes and we take losses whats important is that we learn and take it forward.
Hi guys, heres a short set up on UJ.
As you can see, price is respecting the 111.40-111.50 level. This level has held firm in the past as a previous resistance and it is also matching up with my fibonacci reversal level of 78%. Not only have we got these the 2 confirmations, our trendline is matching up nicely with the prospect of a third bounce, which I believe...
UJ seems that is respecting the little trend line, but I think it will break soon. I am seeing a nice inverted head and shoulder pattern to continue long.
We will be looking for long entries on monday on the right should which is also located in the 38.2% of Fibo.
Let me know your comments about this pair.
Last month It ran a range between MPP (P) 109.442 and MPP (R1) 110.769.
Location of MPP of last month
In July, the resistance of the MPP (R1) last month went out and price ran up like a racehorse who confirmed the gate opened.
However, although it is commonplace, that alone is not a strong trading reason.
There is a...
UJ just complete the 5th Elliot wave, now I see a little correction to continue to the upside until Daily trend line. At that point we will see how the price reacts.
40-60 pips on short to start the week and also to fill the GAP and finish pullback.
UJ preparing the big movement.
Option A: price could respect the daily region and drop until 4h trend line, if breaks the trend line we continue down for a couple of hundred pips.
Option B: price could break the daily region and continue up until Daily trend line, and we wait for a double top and candle confirmation to enter short. If break the Daily trend line...
The tendency is slightly far from the bearish area but still further away from the bullish, until it reaches the noted breaking points in the chart, is just neutral.
Wish you all BIG profits on your trades
We are approaching a big area of resistance and a nice shorting opportunity could come into play if we get a candle confirmation! Trading doesn't have to be difficult just look left and see where price has previously respected... you can see my TP 1 which offers nearly a 2-1 and a TP two with a trailing stop could see you a 4-1 RR...