Hey guys, just wanted to show you how top down analysis can create day trading opportunities. I fully explained in my previous idea (attached beneath) why i'm expecting price to reach 85,50 level (reversal zone) so i can go with the trend assuming it will stop there. Here we have a simple pattern formation that usually occurs in trending markets, formed by an...
Hey guys, just wanted to show you how top down analysis can create day trading opportunities. I fully explained in my previous idea (attached beneath) why i'm expecting price to reach 85,50 level (reversal zone) so i can go with the trend assuming it will stop there. Here we have a simple pattern formation that usually occurs in trending markets, formed by an...
Sell below 86.68. Stop loss at 87.10. Take profit at 85.90. Reason for the trading strategy (technically): Price made a bounce and reached our profit target perfectly yesterday. We now prepare to turn bearish below 86.68 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a further drop to 85.90 support (Fibonacci...
The price is consolidating at the current level - We take short position at 86.50 level and book profit at 85.20 - The setup will invalidate if the price breaks 87.50. For your Info, we see this pair at 90 level in a weekly higher time frame charts.
Buy above 85.88. Stop loss at 85.34. Take profit at 86.72. Reason for the trading strategy (technically): Price is now above major support at 85.88 (Fibonacci retracement, horizontal pullback support) and we expect to see a bounce from here to at least 86.72 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is seeing strong support...
Sell below 87.48. Stop loss at 87.80. Take profit at 86.39. Reason for the trading strategy (technically): Price bounced up perfectly and reached our profit target as expected. We now prepare to turn bearish below 87.48 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to 86.39 support (Fibonacci extension,...
Buy above 86.34. Stop loss at 85.92. Take profit at 87.48. Reason for the trading strategy (technically): We prepare to turn bullish above major support at 86.34 (Fibonacci retracement, Fibonacci extension) for a push up to 87.48 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing strong support above our 6% level...
Sell below 87.05. Stop loss at 87.56. Take profit at 86.076. Reason for the trading strategy (technically): We are bearish below 87.05 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to 86.07 support (Fibonacci retracement). Stochastic (21,5,3) is seeing a nice reaction from the 95% level.
Butterflly Harmonic pattern Sell from 87.50 to 87.60 area and 1st tp is 86.70 and 2nd tp is 85.50 ,, good luck
Buy above 85.34. Stop loss at 84.97. Take profit at 86.08. Reason for the trading strategy (technically): We remain bullish above 85.34 support (Fibonacci projection, horizontal support) for a push up to at least 86.08 (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is bouncing nicely above strong support at 5.5%.
Buy above 85.34. Stop loss at 84.97. Take profit at 86.08. Reason for the trading strategy (technically): Price reached our profit target for the 4th time in a row. We turn bullish above 85.34 support (Fibonacci projection, horizontal support) for a push up to at least 86.08 (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is...
Expected to go down to 85.20 before moving up TP 1: 85.65 TP 2: 85.20 Let's see ...
There is a downtrend. Set Entry price - 85.774, TP - 85.366, SL - 86.174
It might look like a 3TAP, but the last two taps happened within a week, so they are falls as individual taps. Volume on the last two taps did not break new highs, so support for breaking out long over 86.917 is weak. It's on my radar this week thinking it might go short soon.
Audjpy near trendline, Watch for market movements around here. In daily there is a possible breakout. Moreover we have AUD CPI (QoQ) (Q4) AUD CPI (YoY) (Q4) Data on Wednesday 4:30 GMT +4 A reversal is more in consideration on news actual Data.
Hey guys, i like building a case for entry every time i need to enter a trade. It helps me feeling comfortable taking the risk. Now i'll explain why i'm selling audjpy 0.13% right now. First, we have daily structure (blue box). Second, the Cypher pattern has just been triggered. In addition to that you can look at RSI which is deeply overbought. Price is also...