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Currently no action to be taken, but price may pull back to these important level breaks. Keep an eye for a pull back and some Bearish price action to ride the sell wave down further. Failing this, we could engulf here and close back above the break level and this could warrant a long position?
Currently right on top of a major swing support level. We could see some continuation to the down side, seeing at there was a fair bit of Yen strength las week, or maybe this pair is exhausted it's sell power and we may see some stops being hit and positions being closed and some Bullish candlestick patterns to get into a long trade? Anything is possible at this juncture.
Following the break of a major support level, we can expect a pull back to this region and for it to act as resistance. Waiting for the right price action signals at this level in order to take any short position.
This pair is pulling back super deep so be aware. If you want to get long on the previous engulfing I'd advise you use a Buy Stop, as there's still plenty room to get the 2:1 below the swing high. Either way, this is a valid buy setup and I'm in to the death.
Steady zone lies above if price keeps moving up from where it is currently. Swing high fractal is slap bang in the middle of the 50/61.8% retracement zone. Something is bound to happen here, hopefully it'll meet my rules of engagement.
Price is approaching a strong resistance level formed by a previous swing high. Would like to see the band start coming down to meet the candlesticks or for price to spike up, hit the band and then form a signal to get short. Stay frosty!
Due to the strength of the signal, I decided to trade this one through the closest support and onto the next one down. Pull back happened and order filled. Now, it's either a 1X loss or a 2X win. Simple.
This position will depend on the price reaction on market open. If there's evidence that this may get Bullish, say an engulfing on the lower timeframes , then I'll be in the trade with current levels. Buy limit orders ahoy.
I just got stopped out on the recent Bearish engulfing. There's significant rejection of the 20 SMA but I don't like the look of the opposing wick on the current Bullish candle so I will wait for further action before taking any positions.
As there's just been a major Bearish breakout, we must wait for further action before we take a position here. Will price break back inside the level and print a Bullish setup? or will this new resistance hold and and reject price down further? Wait for price action and only engage when it's formed.