Very nice potential longs setting up here, next week we might get nice confirmation to add to longs. For now, this is a rather low risk entry, going with the trend in the daily. Risk half on each. Short term timeframes show good momentum building up, and I see equities continuing to be bullish for a little more upside (S&P500 to retest the downtrend mode at 2082 at least). After we close the gray horizontal lines on chart we can confirm the trade and add to them.
Good luck if taking these trades. Have a nice weekend!
Ivan Labrie
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If you bought market at the open, you're in decent profit already. :)
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Seems like I was shaken out of the GBPJPY long, I reentered with a slightly wider sl and small size to be in. I'll add if it proves to work. GBPUSD looks quite bullish, and USDJPY has pending upside. Oil is also rallying, this is good news for this trade. EURJPY looks fine.
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I reentered after the day turned up again. Was stopped at break even on my previous entry. (eurjpy)
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Safe to reenter GBPJPY now, stop loss can be slightly under the lows (or a bit wider...think 1-3 atr)
EURJPY is looking really good, if not in, reenter longs, stop loss can be the same on my publication or a bit tighter even)
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We now have proper progress as the Nikkei is rallying, propelling yen pairs up.
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As soon as we're up for the day, we will test the resistance above I think. I'm holding the trade open, only closed additional entries I took for now. (EURJPY)
if you dont mind IVAN so please can you explain the basis of this idea i mean what are the technicals you are counting for this long setup thanks in advance i will be very happy if you share your experience with us
JRFreeze
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I'm looking long term and seeing a short target of 148/150 in May kind of time. Got my stops at about 165. What'd you reckon??
IvanLabrie
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Maybe after S&P is done rallying we can see more shorts in this pair, I don't know, for now, it remains bullish to me.
cooney_s
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nice setup, I'm on the same page as you. Risk on will be back on the table next week going forward. The bottom is in, for now.
IvanLabrie
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S&P500 broke the strong resistance at 2040, I see it hitting 2082 easily. Probably seeing a retracement after Q1 ends.
esonchew
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Sir, what you mean about the EURJPY? It going down or up?
Since from last week until today, still on sideways
IvanLabrie
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It went up, not sideways. :)
Did you take the trade based on my reccomended entry and stop?
TA_Valley
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hey ivan what is your target of EURJPY
IvanLabrie
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Hi, you can use the target on chart.
The minimum is 129.71.