I'm in this trade as of couple of weeks ago and it is along the lines of the other GBP pair analysis that I have posted here. This carry through momentum of both GBP strength and relative JPY weakness across the board is definitely flowing through to this pair. Again as long as the Green trend-line holds, I remain bullish with a potential target of around 2.1500
The monthly chart is clearly showing an uptrend that has reversed from years of decline. The weekly is showing this in much clearer detail. As of now price sits at the resistance area from the rally from the start of the year. Should price consolidate from here and then push higher breaking the thing yellow box, I am expecting a price target of around 2.1300. On...
Ever since the start of the year we have seen a bounce back higher for oil ever since the massive drop late last year. That consolidation and the pullback higher can be seen green line being cracked finally in the last couple of days. Because of this and along with all the things going on with the EURO right now, I am anticipating a further push down to a...
The USDCAD is clearly showing an uptrend for both the Monthly and the Weekly. However right now after an initial breakout at the start of the year it has pulled back abit and somewhat consolidating The green line shows the uptrend and as long as that holds expect the bullish momentum to continue and we could see a target of 1.3950 if the UPPER yellow box gets...
The combining factors of BOJ easing, USD rally across the board and the upcoming events in the Euro makes for a weaker yen in general which means to be bullish on the USDJPY. The monthly chart confirms this and the picture is very clear on the weekly. After the initial break out to the upside and then the subsequent consolidation the last 6-8 months, we are...
US data trade. Usually not a fundamentalist but US data came off a bit red. UPDATE: Took an early exit for 1.8 reward gain.
Looking at a quick short scalp with trend continuation. UPDATE: Quick win!
Speculation short on .618 and pivot point reversal which will probably fail since I'm having a bad day.
Re-entry for trend continuation.
Looking for some more JPY strength here.
After a sharp spike down and consolidation back to the .618 mark which is also the breakout point and the daily pivot point, looking for a trend continuation downward. UPDATE: Awesome bear candle.
After the big move down...looking for a bit of trend continuation after a bit of consolidating at the pivot point which is also the .382 fib point and the 15EMA on the 15 min chart. UPDATE: Another painless win!
Reaching a potential double top at the 200 MA on the 15 min chart. There really wasn't a decent retracement from the crazy price action so looking for some movement on the downside. UPDATE: Amazingly painless win!
Special 2 target trade here. Nice short term trade but also a great long term setup at the same time as Greece is in doubt and seriously doubt it will get resolved this weekend. Short term, 2 for 1. Long term 5 for 1. UPDATE: Short term is a winner and letting this ride long term as well. UPDATE2: Both targets hit beautifully!
Speculative short for trend continuation.
Looking for a short bounce back down after stalling at the 1.272 level on fib extensions both ways. Also, on the hourly chart the .5 level is in confluence with the 50 day and 200 MAs. Should be a lovely ride down! UPDATE: Pretty painless win!
Looking for trend continuation after a bit of a bounce up to the 15EMA. SL set to breakeven 1 unit in profit. UPDATE: Took an early exit. Got a bit impatient at the lack of momentum and have some life things to do which will prevent me from monitoring this trade. Took a 1.57 reward profit.