A perfect example of EMA strategy. Nice to see the decision of the movement after a long term upward trend. EMA100 or 200 usually holding the price but there are few signs of hesitation. It was worth to pay attention and look after a nice short position opportunity.
Possible retrace on EURJPY from 138.595 to 127.187 than a long term upwards trend to the zone 145.715 - 149.116. This movement can complete a potential inverse H&S pattern to confirm more uptrend but also a consolidation period around the target zone.
Just a simple and nice example to not make too much difficult analysis. Low percent of allowed lot size long opened on this pair to avoid second and third scenario as EMA and Stoch/RSI signs are pretty strong
Potential Head and Shoulder pattern identified on this pair. I have been following the pattern since 5 Months and as the head completed on the neck line this is a very promising opportunity to trade it.
After the successful Head and Shoulder pattern on Daily chart the formation is a great opportunity to break out of the flag and continuous its way down in an expected 5 wave construction. I move to a longer plan on Monthly chart. Worth to trade in case of breakout and successful re-test.
According to further analysis I have two target for long position at 1.1869 and 1.1892. These will be the points of two short position next to the current one. Short position target 1.1445. For all of this need failing to make new higher high, any of the two Bearish Shark must be completed than channel upside edge re-test fail and fall bellow. Hundreds of points...