Reasons for - We are clearly up trending - We are putting in higher highs and lower highs - We are getting nice swing highs and structure - Previous 4 hour candle was a bullish hammer (Bullish candle) - We have nice long wicks to the downside which signals more buying power - We are above key level of 0.75000 Daily - We put in a huge Bullish engulfing last...
Here's some significant structure levels. The buy zone which is in a support/resistance zone shows also a confluence of Fibonacci's retracement ratios.
Reasons for 1.price has been trending up 2. price broke major RES level 3. now price came back and retested the level and put in a major bullish candle 4. price has put in a bullish engulfing taking out 8 hours of downside movement 5. price ready to make a higher high ?
Pro bullish: - Slight bullish divergence on RSI and Stochastik - market running into support at lower end of trend channel - lower Bband at lows - Spreads steady Pro neutral: - nothing clear cut yet in terms of buy signal This is a good risk reward IMHO
LOOKING FOR A BUYING OPPORTUNITY AT MY BUY ZONE WHICH IS IN CONFLUENCE WITH A FIB LEVEL AND A 3RD TOUCH OF THE TREND LINE. A BREAK OF THIS BUY ZONE WILL LEAD DOWN TO MY NEXT BUY ZONE. FUNDAMENTALLY THIS TRADE IS ONLY GOING IN ONE DIRECTION IN THE LONG TERM BECAUSE THE BOE (BANK OF ENGLAND) STATED THAT THEY ARE CLOSER TO RAISING RATES WHICH IS EXPECTED TO BE THE...
EUR/USD was initially pressured to the downside but then reached new highs in another volatile week. I expect continuation higher toward 1.1564 area initially. The round level of 1.15 has a psychological impact and it did work as a support in past. If the support holds around 1.1290/1310 area i will prefer buying the pair.
using the BUY ALERT to tell me to get long with weekly calls / longer term as well for $132.50 re test Nice area of confluence showing market structure / EMA with risk below $120
Right now we can see that the price has hit a key support level. I predict this will be the start of a bullish trend.
I bought a small position on AUDJPY. Why? The price hit major support level. The risk reward ratio is good. Tomorrow Japan is going to publish some important data e.g. Trade Balance, Imports/Exports and Foreign Investments. You can wait for conformation. But I think from a technical point it is OK to go long. Entry: 92.800 TP1: 94.00 TP2: 95.65 SL: 90.7
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
GBPJPY found support at the 178.0 level. If you zoom out to weekly chart you would see a huge upward trend channel started back in 2012. It's a good opportunity that the trend holds and we see a upward move. From the fundamental point both National Banks BoE and BoJ are holding their interest rates at a record low. TP1 185 TP2 189.4 SL 177
Here we have a bull cypher pattern presenting itself.. Those interested, enter long at buy zone at your own discretion and using your own methods of confirmation.. Others may prefer to enter agressively at limit, just make sure you manage your risk accordingly. I chose 2 targets of my preference, moving SL to BE after locking profits at 1st target might be a good...
UPDATE: We saw really bad data from eu and germany (ZEW Economic Sentiment ) today. I took a small profit & will postpone my long position. I aspect a downturn to 86-85 region. The german DAX is in a decending trend channel. Actually we saw some soft and bad data (Sanctions against Russia, PMI and Ifo) coming from the EU and Germany witch lead the DAX to 87XX...
Some days ago I published a similar idea () which still looking good picking up more significat "pivot points".