It's a simple trade - keep a lookout for this formation!
9th December's giant candle, and the inside daily candle for 10th December.
A close below the HIGH/LOW of 9th December's red candle can potentially spark a breakout in that direction next week!
In this case a close below seems highly likely.. Good luck.
Alongside my previous published idea:
I mentioned that if the pair failed to break above 123.44 and close strongly, the pair would fall - and that came true.
Currently, we are looking at how the pair retraces the recent leg down - and watch if the pair manages to consolidate back into the month long channel, or fails to do so.
I am placing orders to SHORT UJ at...
In the daily chart, UJ has been looking obedient in respecting Fib retracements, as from Dec of 2014, the low of 115.561 continued trending upwards to 125.856 on the 5th of June 2015, then subsequently retracing back to test the .764 zone on 24th August, failed, and then tried testing the .764 again on the 15th of October 2015, before resuming its upward...
Diagonal trendline broken and 4hr candle closes below long time resistance level as well as 200 day MA. To me this shows that the market will drive things downward; Good signal to sell
Here is a very nice shorting opportunity. We have a double top with the confluence of structure resistance and divergence. In addition see linked chart below to see wider picture and more confluence; bearish bat pattern. Our stops should go above PRZ and targets will be the next support zone.
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Avto_T
Financial Analyst
www.rcpforex.com
Here is a very nice bearish bat pattern which is going to complete @123.60. We have a very nice confluence structure levels and the round price. Our stops go above the red zone. I assume the price will reverse at this zone and fall down like a waterfall.
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Green Luck
Avto_T
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As we see we have a very nice double top pattern. Price has tested the neckline and made little correction, what I am looking is the price to break this neckline which will be a nice opportunity for bears to go short. We may choose more conservative way to get involved in, when the price breaks the neckline wait for the retest and then sell. However there is a 3rd...
I already have a long position on this pair but i have already booked 54 pips profit on first target and my stops have been moved to break even. So assuming my second target gets hit at around 123.20's then i will be watching and waiting for this cypher pattern to complete at (123.40's) which is just 20 pips above my second target from the bullish gartley i posted...
FX:USDJPY
BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
Safe trades;
This pair has recovered nicely from the August route but the form and structure of the uptrend looks rather corrective, forming a massive bearish Gartley pattern.
If the 122.21 swing low is broken, I will go short targeting the August lows at 116.
Good luck,
Ali Sharif Azadeh, CFTe
