EURJPY is coiling up for big move here soon. It has been in a Descending Triangle for the past week or so. It's now coiled up even tighter in a small Balance Area (Red Box). I'm expecting a downside move. Targets are can be the support levels below or the height of the triangle (Purple Line)
In this idea I show you how I trade swing failure patterns. This is good for any time frames but lower time frames are preferred. Very simple idea yet works pretty nicely. Let me know what you think.
Buy at 123.45 with stop at 123.03 First target at 123.78 and second target at 123.99
Buy at .9633 with stop at .9616 first target at .9656 and second target at .9671
There is some divergence on the Daily chart. Which could lead to a change in the trend. On the 15 min price is entering into a previous consolidated range (yellow box.) I'm looking for price to reject the bottom part of the range at the .786 fib 1.3913. I would like to see price V-Bottom or see some other strong rejection around that area. Then I'm looking to take...
Buy at 112.68 with stop at 112.46 First target at 112.87 and second target at 112.99
Buy at 123.14 with stop at 122.98 First target at 123.37 and second target at 123.51
This former support line may act as resistance. This is potential area to get short with a .382 Fib for right in the zone. Look to go short around .6625-.6630. Looking to take profits around .6578 at the drop-base-rally zone. I'll have my stop just above .6630's. Good luck trading.
Decent rebound setup, we have the lower trendline more visible @ 1h chart
I JUTS GOTTED STOP OUT AT A SMALL LOSS ON THE USDCAD, AFTER ENTERING BULLISH WITH THE PRICE FINDING SUPPORT SEVERAL TIMES AROUND THE 1.3812 AREA, AFTER THE PRICE WENT UP AND BROKE THE UPPER LINE OF A BEARISH CHANEL THE PRICE CAME BACK AND HITTED MY STOP LOSS THAT WAS MOVED A LITTLE MORE THAN THE B.E. LINE. COMMISIONS: (-1.80-1.80)= $-3.60 TRADING PROFIT/LOSS:...
ENTERED LONG ON THE CAD AFTER THE PRICE REACHED THE SUPPORT LINE OF THE CHANNEL LOCATED BETWEEN 1.3890 AND 1.3990, THE PRICE CAME DOWN AFTER THE RELEASE OF THE US CORE RETAIL SALES WhICH SHOWED BETTER THAN EXPECTED RESULTS. THE PRICE WENT UP AFTER THE RELEASE AND BROKE PREVIOUS RESISTANCE LEVELS. ALSO I GOT ANOTHER TRADE OPENED THAT WAS A TRADING EXECUTION ERROR,...
Long AUDNZD Structure looks ready for a break out in the bullish direction.
Market might retrace to the 1865 level in the early European session. Support area: - yesterday's low -50% retracement on todays down move -possible short-term divergence building on RSI Watch out for this level as it could turn out to be a good shorting point for the rest of the day.