AUDUSD - Downtrend Continuation move anticipated from the retracement.
Great opportunity to short the market.
Weekly time frame provides sufficient confluence of the downtrend and retracement raly down opportunity.
4H time frame on the other hand provides entry reason because consecutive bearish candles.
Decent risk/reward ratio with potential with second target.
GBPJPY failed to breakout from the zone making three tops that provide sufficient resistance.
Falling was accompanied by another attempt to move up, acting as retracement providing additional space to continue move further down.
Weekly chart provide sign of piercing through lower structure - potential to further down move.
Cumulatively nice opportunity to ride one...
Little bit of different setup this time.
I see it as potential double or even triple top with decreasing highers as the sign of potential trend reversal and rally down.
The fact that it is third top is little bit diminishing the risk/rewards ratio, therefore I will adjust and close the trade in the first signs of incorrect judgement.
Also it could very easily...
GBJPY put series of higher lows indicating potential bullish trend.
Weekly Time Frame confirms the possibility of decent uptrend.
Entry is based on 4-hour time frame, yes, little bit late.
Also second high is not higher than the previous one.
Risk/Reward ratio is quite decent although I do not expect to rally fully to the top.
Important is to keep in mind that the...
Long Trend Continuation Set-Up based on 0.618 Fib Retracement.
After series of higher highes and higher lowes another move up could occure.
Stop Loss relatively tighter because of potential trend exhaustion.
Take Profit according to the nearest structure levels.
Still quite decent 1.3 Risk Reward Ratio.
After the series of lower highes and lower lowes as the sign of bear taking over potential to get to the short trade.
Entry from the retracement based on consecutive series of bearish candles.
Target based on last support.
Stop loss wider in order to provide the space in case of need.
Despite larger stop loss still decent risk/rewards opportunity.
GBPJPY - short opportunity based on structure, as strong resistance reached as well as some form of RSI divergence present.
Sell limit placed little bit higher and therefore great risk rewards ratio acquired.