Wait for the next candle, if it breaks the daily pivot, short
So our Fibonacci Retracement suggests that the pairs next leg would indeed be bearish to our -0.27 Fib then correct and continue the downtrend commenced in may this year. We were rejected on this major support line towards the end of November and corrected to our 38.2 Fib but with price being rejected here also, is readily approaching the Major Support level...
So we have just bounced off a weekly resistance point creating a new higher low which is the first sign of shorting this currency pair. Secondly we have a nice engulfing candle which has closed on the breakout of a trendline. Thirdly we have got our first crossover with the MA's. the first initial target should be the monthly support line (RED)
Hey Guys, Been a while waiting for our next trading opportunity but the important thing here is we don't try and force a trade. We currently have an at market Bat formation on EURJPY 4H, providing us with a 1.5 R:R to target 1. Will be looking for a press to the downside and the nice indecision candles around this area suggest selling pressure. As always, trade...
Potential bearish bat pattern on the horizon. Wait for D point completion. I will soon be posting tutorials on how to trade Gartley and Bat patterns , so follow and stay tuned!
Selling the trendline pullback seems like a good idea. Confluence with a 382 Fib retracement and structure level. Watch price action for a sell signal, or entry order at the trendline. More conservative traders can scale into the position slowly adding as price goes higher with stops above the latest structure high (above .7570). Not looking for buying...
618 trade with confluence of prior triangle trendline resistance coming in as support
AB=CD with Fibonacci confluence Also a Gartley completion at an 886 Fib level (green line)
Keep away from sidewalks under windows. MACD: RSI: Will the monster eat you too?
Strong buy a huge bullish candle will be printed real soon, continuation of the upwards trend.
Sell Setup CADJPY 4H Bearish Engulfing
After seeing price show strong bullish run... looking to take this counter trend trade set up on this price break of 2.0333 1:1 60 points 1:2 120 points 1:3 180 points @ 618 retracement Stops ' @ 2.0394 (60 Point)
USDJPy has pushed through horizontal level @ 109.68 to now test strong daily trend line currently seeing indecision. if price can break below 109.85 showing strong continuation... looking to take short a position with stops at previous 8 hour candle high 110.48 1:2 targets
If price doesn't skyrocket to the first relevant structure to the upside, I'm buying according with the notes on the chart.
Bottom candles tend to have a lower wick. This represents the bears bringing down the price and the bulls overcoming the bears and bringing price back up. Hence the 'bottom' Last week SPY decline lacks a wick. Suggests more Down to come.
We have a nice Breakout at Daily Level, pullback with Hammer at Support in H4 + bullish engulfing H1 + doble bottom M15! Multi-Timeframe confirmation! Very nice Long opportunity!