Completed its downward leg
Hits 0.5 Fib
Hits support and previous resistance which could be seen as another support now
If breaks, would be a good idea to sell the break (unlikely though)
Hitting 0.7 Fib from last leg of the trend, also strong resistance with overbought market
End of the short upward move after the bounce up from the support.
Continuation of bearish trend
GL
GBPJPY broke downward trend from previous months.
Hitting 0.7 Fib, retracement back to structure line which from resistance becomes support and then up again.
GL
Hello Traders,
Here is a beautiful set up for CHFJPY. I would get added confirmation of the up move if and when an inverse head and shoulders is created. Pay attention to the green highlighted section and the reaction we see from there.
Best,
Chartistry
Very well-formed descending triangle, which is typically a bearish signal.
6 hit points, with the hit points converging towards the apex of the triangle.
Depending on how you trade this, you could look to go long now and ride a potential furthering of the triangle, closing out at the resistance and then shorting a break to the downside. Alternatively, you could...
With Japanese markets closed until Friday, it could be the end of the week before the JPY pick up again . The Loonie have so much advantage now... I took long position from 83.605 with 4 Tps. We'll see how this transpire, but am sure it will be a good, as usual :)
Have fun trading!
Hello Traders,
Here we have a Wolfe Wave pair similar to CADJPY, we hit point 5 last week and now would be a good time to short this pair using the Wolfe Wave pattern. This cancels out the previous chart I posted on CHFJPY(linked below).
Best,
Chartistry
Hello Traders,
Here we have a Wolfe Wave & Geo structure that is pointing DOWN after the current bullish run. A couple of things to note here.
1. This Wolfe Wave structure is still speculative since point 4 has not been defined. But, with the use of Fibonacci Extensions and ab=cd patterns I have defined a probable level where point 4 can be found. Point 3-4...
Hello Traders,
Here is a bearish Wolfe Wave forming. This is a smaller time frame Wolfe than the larger one I have linked below and also highlighted in grey. This could potentially cancel out the larger frame Wolfe. If the larger time frame Wolfe completes at Geo"s Off-Set rule we could have a Wolfe Wave completion at 5" for the smaller Wave. It will be...
Plan of trade
TF Day : Make the A-B-C
TF Week : End of 5th and make A-B-C or still in 4th wave and make corrective before Go down for 5th wave.
TF 4H and 1H: Lock profit if it end of each impulse.
1. If it is beginning of 5th-wave, it make 1-2 and now in the 2nd-wave and will go down to the Big-3rd Wave. or,
2. It will go up to meet the 158.536 160.344 before...
Watch the lines because it is important to know which line rejected it and which line saved it. The price of the asset merely bounces between lines. USDJPY might have a bounce, given that it was recently saved by that black line, but get ready to go short again as soon as it starts to break down at that black line.
Watch the lines because it is important to know which line rejected it and which line saved it. The price of the asset merely bounces between lines. USDJPY might have a bounce, given that it was recently saved by that black line, but get ready to go short again as soon as it starts to break down at that black line.
