This setup took me literally 10 seconds to spot, I just opened the chart and spotted it... This is how easy you can make trading if you block out all the bull#hit people try to feed you and just focus on the charts, clean and tidy charts!
When I 1st started out I had all sorts of idiots trying to tell me I had to use 100 indicators just to spot a trade... I lost...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=108.05.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=107.8.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
USDJPY is approaching our first support at 109.49 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 110.69 (horizontal swing high resistance, ,50%&78.6% Fibonacci retracement, 100% Fibonacci extension). Stochastic is also approaching support....
After completing the Elliot Waves, the pair shifted in momentum and is currently in a downtrend.
We can see an inverse H&S getting formed and we can capitalize in the formation of the right shoulder as shown in the chart.
After breaking the bullish trend, I called a short on this pair, however, the currency pair shot up stopping me out. Currently, the pair has formed a double top and it looks like a bearish trend is being made due the formation of the most recent trendline. If the currency pair moves down, I will target 150 pips where we have our 61.8 fib level,. Will be risking 50 pips.
Very strong bullish move on this pair last week and resistance has been met. I believe this pair has run out of steam and a correction is needed hence my personal bias on this pair is short to the shown level for the time being.
USD/JPY bull trend by keeping the market above the 112.50.
USD/JPY is trading above all simple moving averages (SMA) which confirming the bullish trend. The market is also trading above the bull trendline, if bull run remains above 112.50 the next objective is 113.18, July high. However failure to break above the July high (113.18) this can lead to a reversal...
We're looking for a huge push tonight when the eco data is released, if as expected JPY should weaken massively at 1:50GMT while the USD is pushing for the bullish momentum once more. This should be enough to break the 110.370 resistance area.
- bullish cypher
- expect a final push up to the next daily resistance next week before FOMC
- stop loss and entry around a strong support zone
- even if it breaks the support zone I won't assume a bearish trend until the Daily chart suggests it.
- rsi is still bearish
- just like before, I will wait for confirmation before entering this trade since the 200ema may...