JoeyMvc

JoeyMvc

Long position on the EURUSD. Entered @ 1.16440 as my entry rules were met on the H1 with a reversal. I believe market will either give us a harmonic 1:1. or simply retest the .18000 to .18500 highs. Either way first target is before this level. - Firstly, previous structure supports a bullish rally at this level. - We are at the .618 of previous extension. - DXY...

JoeyMvc Updated 

This was a trade I entered a while ago, but has so far gone well. I entered up at .89744. T1 @.89000 T2 @ .88600 Reason being because of the channel on the higher TF's. Entry rules were met so in I went.

JoeyMvc Updated 

Potential long position on AUDUSD - Perfect reversal point. - .618 Retracement - Extension 1.272 @ previous resistance level - WAITING ON TRADE ENTRY. Still no valid entry for me however may be soon. Looking for valid entry in yellow zone.

JoeyMvc Updated 

As the title says, short position on the AUDUSD. Personally there are so many of my rules met right now to get into this trade. - Over all AUDUSD on down trend. DXY to support as well as other USD pairs. - In a down trend within the down trend. Currently at top of retracement. - Retracement @ perfect .618 area of previous extension. - RSI over bought. -...

JoeyMvc Updated 

I haven't taken this trade as I don't usually engage with butterfly patterns, but I'm interested to see what happens with this one. Perfect set up to enter a short position. May be a bit late now but for backtesting purposes why not. SL @ 1.618 of AB Extension TP1 @ .382 of AD Retrace TP2 @ .786 of AD Retrace Not a bad RR if you're aggressive enough to have...

JoeyMvc Updated 

Potential short opportunity. - Daily chart previous structure supporting idea - Structure has put in a lower low - Currently in retracement from previous resistance level - Price needs to push into yellow area and show some form of reversal. - RSI looking on track to overbought. - Yellow area = to .5 - .618 FIB Retracement level. - Enter on valid reversal ...

JoeyMvc Updated 

Hopefully the Dollar keeps rising and the Franc takes a day off to relax. Supports other trading moves involving the dollar. Would like price action to push up to D (0.97126) before even considering entering the trade - this will give us a 1:1 RR at T1. T2 will give a nice RR. Cyphers are quite reliable so hopefully will get to enter this position.

JoeyMvc

Entered this a while ago but forgot to post. - Following the patter forming in the channel. - RSI Overbought - Touched major Supp/Res level (based on Monthly history of NZDUSD) - Entered at top of the pattern on Lower Low Lower Close (L3C) on H1. - ATR Based Stop - Huge R/R - TP @ previous structure support level within the channel (could go to the bottom but R/R...

JoeyMvc

NZDJPY Long position

JoeyMvc

Potenital Long Position. - Price action has put in new structure higher high. - Structure supporting trend reversal (to bullish) - Waiting for a more clean entry into the trade. Currently in a small retracement, hopefully gives us a double bottom. which will look to enter on. - ATR based stop. Will be trailing.

JoeyMvc

Hopefully about to enter into a long position on the GBPJPY. 1. We are a the bottom of a major Consolidation trend line (check higher TF) 2. We have been given a higher high higher close candle 3. We have crossed WMA 4. Waiting for a candle embodiment on current candle.

JoeyMvc

So this could be a potential forecast of AUDJPY movements. the further into the process you get the more unlikely each step will be so be cautious. IF price follows my ideas this MAY be what it looks like. If anything is different, the whole outcome of course will be, so as soon as you see an error, adapt the changes. My GBPJPY and NZDJPY theory also support this...

JoeyMvc

Potential bearish cypher almost completed. If you enters soon as price completes the last leg, bear in mind that based on my ATR stop loss above x, this trade will not be a 1:1. Personally, I will NOT enter as soon as price hits the last leg of the cypher. There's a reason they say you should put you Stop Loss above/below X and thats because price can go that...

JoeyMvc

GBPJPY has given us a nice Gartley formation. If you're aggressive, you could enter now. Personally I either; 1. Would like to see a reversal on a lower timeframe to confirm entry OR 2. Would like to see price action push down into the yellow target zone, and then give us a reversal. I will most likely look to take all my profit at the 38.2 @ 150.707...

JoeyMvc

The NZDJPY has been making textbook moves for the past 5 or so months and nows the perfect time to see some changes. We had a wedge pattern forming, as well as a bat pattern within the wedge as a little reassurance to buy. Following the leg formed by the bat pattern, we turned around at the .618 giving us a very nice 2618 formation. Going on, theres now a couple...

JoeyMvc

Based on the EURUSD's current position, I'd say we are close to putting in a long position. Personally, I do want to see my RSI going oversold before I make any entries, as well as some sort of reversal pattern so I am looking for more of a 'B' arrow path. On top of this, bear in mind news on the EURO CPI is coming out tomorrow which hopefully might...