We are looking to short GBPJPY on the close below the 4hr support zone.
This is a critical area of support, the market rejected the 50 Fib Level, and retraced. If the fall continues and closed below 142.207 we will enter, expecting a run down to weekly support of 139.500
We are expecting the market to break the weekly trend line, to hit the support area of 1.22584 before bouncing back and touching the back of the trendline before tanking over 500 Pips to the next Weekly Support level.
We are waiting for the break of trendline before we place our sell order at 1.23606
Will be actively managing and moving SL accordingly
Our order was triggered overnight on the retest of 4hr support zone, market continued to drop and we were only 20 Pips from our SL.
During the London and US session the market has rallied us back into profit.
Expecting a run up to 142.190 before finding resistance and tanking to form a new low. We will be looking to short it back down at that level.
Last week we marked out our preferred entry point for this market above the daily trendline.
On Friday the market rallied and closed back above the Trendline triggering our Long position.
That closed the weekly candle as a massive dragonfly doji from between the 0.50 - 0.61 Fib zone, coupled with finding support from the trendline this looks like a really good...
Our overall sentiment is still long term bullish, however our sell order was triggered on the Weekly Resistance level of 130.755.
We expect a pull back of around 100 Pips to around 129.681 (4hr previous support level)
Will be actively managing as market could stop and bounce sooner.
We have shorted this market a number of times over the last few weeks, always actively managed and closed for profit.
Again we are looking for a close below the 4hr support before we short.
We expect the market to finally tank down to the previous daily support areas of 107.158 this week before bouncing slightly.
We placed this order on Sunday night expecting the market to rally on open, hit our entry and then drop.
However marker fell, recovered and rallied back up to the monthly resistance level which triggered our sell order.
Expecting a nice run down to daily support level of 107.145 ( 253 Pips )
Could experience some support around 108.958 and 108.328 so will be...
GBPJPY is looking like another sell this week. Waiting for a break of the 4hr support area before entering.
Once this is broke we expect a run down to 136.741, may experience some support around the 139 zone, so will be actively managing.
We first looked at this market back in January when a new higher high was formed and shorted down to the 0.50 Fibonacci zone which was also on a monthly support. The market continued to fall to the 0.61 Fib Zone, before finding support and rallying to make a new high.
We are now waiting for the market to continue to fall back to the new 0.61 Fib Zone, which is...
We missed the entry for this long last week so we are hoping for the market to open bearish and run down to re test the ascending trendline.
If this happens we are looking for Bullish candle formations within our marked yellow zone, which is on the trendline, on support level and in a decent Fib area.
If we can find an entry for this Long position we expect the...
Looking for a break of MA and bullish candle formations to enter long.
Looking for a run up to Daily Resistance level of 134.008.
Bounced from 4hr support which was in between the 0.38 and 0.5 daily Fibonacci level so break of MA will confirm a new uptrend has began.
We are looking to enter long if EUR can break strong daily resistance level of 0.91476. Market has tried to break this level on a number of occasions but failed.
However with a quiet week of Fundamentals for this pair price action should play out.
If we can see a bullish candle formation break clear we expect a run up to Monthly Resistance of 0.95269.
Our overall sentiment is Short USDJPY, we expect this to run down to around the 102 level by the end of the year, however we are looking at optimum entry points to achieve this.
We are looking to go Long USDJPY if it can break the previous monthly Resistance level of 109.976, and expect a run up to the daily Resistance level of 111.995.
If the market opens...
Re Sold USDCAD, we entered this market short a few days ago and have added to our position.
Trade is running as expected and we have decided to re sell on the re test of some Resistance, looking to achieve a drop back down to weekly support.
We originally shorted this market at the beginning of the week, however our entry point was to early.
We missed the short last night at the 4hr resistance level at 0.97616 and the market tanked. We were expecting some ranging across to to the trendline.
We have now shorted on the back of the retest of the 4hr zone.
Expecting market to drop to the weekly support...
We first sold this market on Monday however the EUR rallied and hit our SL.
On the chart we previously posted we identified this sell order. We are now expecting some more downside.
We will be actively managing this trade and looking to move SL to break even once we are around 30 pips in profit.