Quick day trade set up based on my day trading strategy.
Nice pivot bounce and 15min trend continuation. Take profit 2 is extended to increase R:R if needed.
Trade Idea
Broken out of the channel formation to the upside.
There is scope for mild selling at the open but losses should be limited.
Bespoke support is located at 75.10.
We have a 50% Fibonacci pullback level of 75.10 from 73.93 to 76.20.
Expect trading to remain mixed and volatile.
We look to Buy at 75.10
Stop: 74.80
Target 1: 76.10
Target 2: 76.35
Trade...
Hi traders,
Whenever you are looking at a technical level, always ask yourself the following:
- Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones)
- Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit at horizontal, diagonal & dynamic support/resistance areas)
-...
AudJpy broke structure with some room up and a bit of conviction. Theres many zones which you can look to use to get involved in this opportunity and ride u.
as we can see here on the AUD/JPY chart that it was previously trending in a downward trend within resistance and support trendlines. the market gave us a fakeout out with consolidation under the support line with a triple top, however, the market didn't move to the downside it moved back up to the trending area to then move strongly and surpass the top trendline....
as we can see here on the AUD/JPY chart that the market has been trending on a downward tunnel. within this trend, the market has been trending strongly between 2 main support and resistance trendlines, however, between each interaction of these levels there has been a lot of miniature moves with different patterns. previously the market has been moving along the...
Trade Idea
Broken out of the channel formation to the upside.
There is scope for mild selling at the open but losses should be limited.
Bespoke support is located at 75.30.
Further upside is expected although we prefer to set longs at our bespoke support levels at 75.30, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
We look to...
Short opportunity for AUDJPY on H1 timeframe. Head and shoulders pattern formed around major resistance level, now followed by a potentially double top. Wait for double top to be validated first. Potential TP1 and TP2 marked out with blue and bottom red line. Stochastics showing as overbought and RSI is reading 65%. Short follows trend of D1 and H4...
Trade Idea
Broken out of the channel formation to the upside.
There is scope for mild selling at the open but losses should be limited.
Bespoke support is located at 74.85.
Further upside is expected although we prefer to set longs at our bespoke support levels at 74.85, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
We look to...
This pair is the Australian Dollar against the Japanese Yen. In regards to U.S. equities on a short to medium term basis, it is often one of the most highly correlated pairs to price action. The pair tends to decline is a risk off approach and rise in a low risk environment on carry flows.
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