They have tried to repair the already broken cable but despite this, after several attempts and years of trying fixing it we are now at the offcial beginning of a major downtrend of the once oh so royal currency..
Technical analysis is very dangerous to rely on, seen the politcal position of the US and the UK in the world alot of FUNDAMENTALS can have...
LOOKS LIKE THE CORRECTION IS ABOUT OVER!!
If we are - and i very much think we do- at the start of the uptrend we can make lots, and lots of pips. !
Here's why, the higher trendline of the BB% is almost being touched with an almost oversold RSI. The same place was back in the 99's 00's at an overbought spot but now it is heading to oversold.The last monthly...
USDJPY is making a correction on the 1HR chart , you can look to sell the breakout of this corrective structure, or for more aggressive traders you can sell the 0.618 fib at the top if it goes there. Trade your plan
So we have 2 months down trend. On daily timeframe we can see a nice forming channel, maybe 0.50% fibonacci will hold we have brn ( big round number 0.7500 ). Next potencial long opportunity is at 0.618% fibonacci hold, daily demand zone.
I think we may have finished retracing for now and heading down.
-I want a break and close below the 4h trend-line in blue here
-Coincides with fib 0.618 retracement
-ABCD Structure in play
-We just bumped our heads on major monthly resistance of 1.4000 and held below
-A lot of long wicks around the 1.4000 too
-Targets as shown
-Another reason why we could be...
-IM STILL BULLISH ON THIS PAIR AT THE MOMENT
-FIB 0.618 MAGIC RETRACEMENT IS THE AREA I WANT TO HOLD TO SECURE A LONG
-A B C D STRUCTURE HERE
-THE NARROW BLUE BOX YOU CAN SEE IS A KEY LEVEL HAVING BEEN STRONG RES NOW SUPPORT
-FIRST TARGET WILL BE WEEKLY RES 1.4760 IF THESE ARE HIT WILL TAKE PARTIAL PROFITS AND THE NEXT TARGET WILL BE FIB LEVELS.
If we are in wave C,
The price(1.166-1.18) and time(2015-09-14) area is very important.
So I put the possible MACD is drawn in the chart.
If an option as shown in the chart, the point C is a good short point.
Here we have a Gartley pattern near completion.
D leg needs to complete at a 1.27% in order to see a bearish Gartley pattern completion according to my rules.
We will also have an ABCD pattern completion which adds to make it a valid Gartley pattern.
Stops Above X
TGT 1 0.382%
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
Bullish pattern observed yesterday night with the price of the USDJPY reaching new lows on the four hour chart, besides this the price did hold really well around the 118.22 support area that has been acting three times now. I left the trade to have a little more time before entering and today I entered the trade after the close of the four hour bullish candle...
The price closed with a H4 bullish bar on the chart and with the prices reaching higher highs on the lower timeframe after the opening of the markets on london, the prices formed kind of a bullish pin bar formation with the support level being near a past resistance level that was acting on the USDCAD and that is holding together with a 0.618 fib retracement and...
Pattern observed since days ago as a possible bullish setup that might form on the bullish side for the USDCAD and that yesterday showed some support around the 1.2375 level that was also on confluence with a past resistance level and the 0.618 retracement level for the last upward move. The price might reach the 1.2500 level for today after the release of the...