Here's an updated version of GBPJPY. Looking for it to come to the Downtrend (78.6 fib) and Daily reversal candle to close. There is a chance it will break the uptrend however, so we will wait for a break and retest on 147.500 If that does occur.
Gold is setting up nicely for a buy. 4HR break of Dow-Trend MA's are starting to cross over on the 4hr/2hr Time Frames as added confluence.
-WAIT FOR A BREAK > RETEST ON 1333.00
- BULLISH CANDLE CLOSE
-MA CROSS OVER ON THE 4HR/2HR MAYBE
(first target for me will be around 1346-1350.)
GBP/JPY is currently at a Monthly Resistance of 145.000. Each time GJ came to this Psychological Number price rejected. Currently GBP/JPY is consolidating between 145.000-144.200. You could Short this now for a 1-1 Risk-To-Reward Ratio but this wouldn't be ideal. This is what I'm waiting for before Shorting this.
-4HR BREAK OUTSIDE OF 144.200
Rejecting off a Key level on the Weekly Time frame. Wait for a 4hr candle (possible MA cross over) to finish outside of the uptrend before going Shorting. If you want to play it safe I would recommend a break and retest on 1.825. Targets would be betwen 200-250 pips
Looking to go Long on USDCAD, will be looking for a reversal pattern on either of the Trendlines or the 61.8 fib. Similar setup as before which netted 245 pips. If it breaks 1.3100 it will be an invalid setup.
USDCHF trade idea. If it respects the S&R could be looking at a nice buy on this pair. However, If it manages to keep breaking through I'll then be looking for a retest and possibly shorting this pair.