Well what we have here is a potential AB=CD pattern forming up with price also creeping up to a previous "Supply Zone" where it sold off forming the AB leg of the pattern. Now this trade will be based off of the pattern mostly but you also have historical resistance on your side, along with the Fib retracement levels. Take profit zones are marked by the Fib...
I've written down the notes for the trade on the chart, all self explanatory. I'm only looking for short opportunities on this pair as it has broken 200 EMA support. Yes the fundamentals of BoJ QE are still in play, but the current trend is currently in control of the bears. And remember the Yen is tied to commodities, and the market appetite for risk. And always...
Well the chart explains itself, wrote some notes on it. S/R zones, with purple markers as pip differences measured between S/R areas. I'm short on a break and resest of the 61.8% Fib, and will look for a Long on a break and retest of 50% Fib (Which consequently if you look closely, the 200 EMA is sitting right on that resistance area, a break of that area and I...
Well I put the explanation for the trade on the chart. One thing of note when trading USD pairs, is that we might see some pull back in the DXY, US Treasuries are have broken to their October highs (Remember the US Indices had a significant correction/pullback whatever you wish to call it, with the S&P 500 getting really close to giving up all its gains for 2014...
Chart is straightforward price broke thru .50 Fib Support next target of support is 300 pips down. Need a break below the grey shaded area before looking for more shorts. Happy trading folks =D
Well I put the description on the chart, trade it at your own risk, and use this as a way to more or less formulate your trade idea that would fit your own guidelines for a trade. =D Since this is an exotic pair it isn't necessarily for new traders, since many factors make "exotic currency" trades different, when it comes to averaging position sizing to adjust to...
Wrote / Described Technical Areas on the Chart. Base your trade if you decide to trade this pair based on your own risk appetite / trade guidelines. =D For myself, as a more aggressive trader I might consider entering on market open. If there are gaps I will wait for price to retrace / fill gap before entering short. If gap is not filled, odds are I will take...
Explanation is on the chart, but price was rejected on the AB leg of the pattern today making the probability of price retracing along the BC leg, which is the area where I will be looking to go short the pair, to the stated profit levels on the chart. If price continues downward then the pattern will be invalidated, where as I will be looking elsewhere for better...
Well another short opportunity that I see with an AB=CD pattern. I have a short order at at the 61.8% Fib (0.8139) Explained the technical aspect for the trade on the chart =D Meets my personal guidelines in regards of Risk/Reward for entering trades. A/U is still bearish as it continues to make lower highs, and lower lows, so lets see if price agrees with the...
Everything is self explanatory on the chart =D But anyhow, as long as the uptrend holds, I'm only looking for longs. Will be compounding positions. And well, if you don't know the fundamentals behind the Yen, it shouldn't be hard for you to find them out. ;D Happy Trading
Well last night U/J broke below a support zone, and is now retracing , looking to go short at 118.85-.90 with a stop at 76.4% Fib. If 76.4% is broken I will be looking for long opportunities but for now U/J is still a sell for me personally. Profit target at the 161.8% extension zone. Market sentiment supports xxx/JPY shorts with US treasuries dipping below the 2%...
Well mates what we have here is a little short for the night.. looking to grab roughly 150 pips from the short with the pair.. Will wait for price to complete the downward leg of the harmonics, and retrace to the 23.6% Fib to enter short in that zone. Stops in the 50% retracement zone for a max loss of 30 -40 pips.. R/R Ratio at its max is 1:3.75 . Some event risk...
Here we have a little analysis on AUD/JPY with previous examples of trades. Everything is pretty self explanatory on the chart. Support and resistance zones are plotted from the Daily chart. Currently neutral on the pair, just will keep my eye on it throughout the week to let price decide whether it wants to go higher or lower. Remember, remain emotionally...
Well, I decided to test out finding more clear S&R Zones on the Renko Daily Charts just to see how it works out. Nothing confusing, all I did was bring up the Daily Renko plot the demand zones and previous resistance, plotted the historical demand zones and moved back to the Daily candlestick chart to check on the accuracy of the demand zone plots. It definitely...
The fundamentals behind the move could be due to the political instability in Turkey, with the Turkish government cracking down on political opposition in the country. Based on the technicals also, the currency pair is reaching a supply zone where the pair has sold off in the past.
I don't usually place trade setups, but decided that I should probably start sharing with the trading community on trading view. Well what we see here is a "bear" flag on the currency pair. Most likely formed on the fundamental indecision among traders on "when" the US Fed will raise rates. And on the ECB's lack on mentioning two words, "Q.E." haha. And much more...