Broke out of channel but didn't seem to be strong enough to hold it's own weight. (pa-dum-tsss)
First bearish 4h closure was a good enough signal for me to get in, knowing draw down would be light as if i were wrong my stops were slightly above the ReTrace of the LowerHigh.
A1 risk/reward.
TP1 immediately smashed with no concerns.
TP2 is awaiting a retest to the...
Solid downtrend. LH LL highlighted.
Finally broke out of main uptrend, retested line, and formed bearish candle.
Lets see if this closes and gains more momentum.
We could be ready to bombbbbbb
Major decision time for EU right now. Current trend is at 100% retrace. We just broke out of our triangle pattern and could possibly be seeing a retest to the outside trend line there. Market will either break or bounce i this price area. I personally see more bears in the market. I fell like price will break back into triangle and we could see market back into...
EU is becoming a little more clear here as this week turns on us. As you can see the H&S pattern from last week was successful and had a full 100%RT. Which in fact turned into a 78.6RT on overall trend. So far this week have not seen price hit below 1.1600. This point currently gives us a new HL at 61.8RT from previous LL to previous LH. IF market can hold at...
FOREXCOM:USDJPY
Look at my previous post on how we go to this point as my prediction was pretty spot on. Here we consolidated into a triangle pattern on the 5m chart, broke and retested the outside of the trend line. NO RETEST NO ENTRY.
being that this trend started from 78.6 retrace, ill hold this one out untill the .786 fib trend retrace which will hit me...
FOREXCOM:USDJPY
1.Trend broken on smaller time frames telling me counter trend is about over.
2. Break of Structure falls on 61.8 Fib retrace.
3. fib based extention from 61.8 = 1.618 which falls on overall trend high.
Butter.
from there we could have a double top reversal, or bulls can take charge and bust through resistance once again.
Total move is 90...
USDJPY
Aloha peeps.
UJ seems to be making a very strong come back. If you read my post yesterday, you'll remember upwards momentum came to a hault showing stronger bearish movement.
We ended up retracing to 108.63 which is a 23.6% fib retrace and responded right back with another bulls rush.
we continue with higher highs and higher lows.
We should See price...
may break or bounce. Major resistance around 109.1. I'll be looking for a short opportunity. Wait for confirmation before taking trade, no retest.... no entry. DONT FALL FOR THE FAKE OUT!
