Fibonacci Retracement drawn from Daily high and low. Price is currently in Retracement area and also by my Weekly levels and zones.
So I am placing a short trade down to the Daily Support target given from the Fibonacci
TRADE:
Entry: 1.2350
Stop Loss: 1.2970 Risk: 620pips
Target 1: 1.0970 Risk:Reward ratio = 1:2.26 Profit: 1380pips (Most likely)
Target...
Combining Fibonacci Retracements from Monthly and 4Hr timeframes, to extract Support/Resistance levels, I believe it is time for Long trades on GBPJPY.
Entry: 136.13
Stop Loss: 134.10
Take Profit: 139.70
*135.55 ENTRY WOULD BE BETTER IF WAIT FOR DAILY SUPPORT RETEST*
My first MONTHLY SUPPORT has been broken.
I am now waiting for a retest of this level, if price rejects it and uses it as resistance then I will place the following Short Trade:
Entry: 0.6545
Stop Loss: 0.6660
Take Profit: 0.6050
Await WEEKLY HIGH to be made, I think this will be around the 1.1500 MONTHLY RESISTANCE
This will then allow a Fibonacci Retracement to be drawn from the Weekly High to the Weekly Low (1.0775)
We will then have our Retracement Area . If the high is made at 1.1500, the R etracement Area will be between 1.1222 and 1.1050 .
I will be looking for a...
This is my long-term analysis of EURGBP. It has completed 4 Elliot Wave impulse waves and is preparing to begin the 5th wave down to complete the sequence.
The Fibonacci retracement from WAVE 1 rejected the 61.8% level, showing the trend is strong. Therefore my target for the end of WAVE 5 and completion of this trend/sequence is at the 161.8% level (0.8454). If...
According to the Fibonacci retracement tool, there will be a retracement up to between 0.8608 and 0.8623.
My Short trade idea is to catch the next leg down of this downtrend.
TRADE INPUTS:
ENTRY: 0.8608
STOP LOSS: 0.8630
TAKE PROFIT: 0.8560
RISK: 22 PIPS
REWARD: 48 PIPS
RISK:REWARD RATIO: 1:2.18
I have longer term analysis for this downtrend which I...
Following on from yesterdays FOMC news, Gold has shown it's trend direction. I can see a retest of 1500 level before falling to the 1460 target. 1505 Stop Loss to give trade room to breathe.
ENTRY: 1500
SL: 1505
TP: 1460
This is an update on my Gold analysis. I believe price will follow the direction shown in the purple arrows and reach the blue zones before falling. This will also form a XABCD Harmonic Pattern when complete.
TRADE:
ENTRY: 1.1080
SL: 1.1150
TP: 1.0800
RISK : REWARD RATIO = 1:4 70 PIPS RISK : 280 PIPS REWARD
This is a EURUSD SHORT idea using the Fibonacci retracement tool. Target 1 @ 127% level (1.0926) has already been hit. Price is now taking another retracement up to the zone between 78.6% an 86% levels where I believe it will reject and...
TRADE:
ENTRY: 1465 OR 1439 (PRIMARY OR SECONDARY SUPPORT)
SL: 1420
TP1: 1599
TP2: 1648
Overall trend is LONG. I have used Fibonacci sequence to find my key levels from various ABCD moves. I believe that Gold will come to either the Primary or Secondary Support levels as labelled, and reject to continue the uptrend. Which level it rejects I am unsure of at...
