this trade was taken off of the daily TF. Market came back into weekly Supply and pushed back down. Created a lower high shown with the yellow eclipse. This LH pushed hard off resistance creating a bullish engulfing pattern. This is where i waited for the market to retest @ 113.077 With stops above previous high and Take profi at the next daily demand zone @ 110.482
The power of price structure: previous resistance is now support. Pretty much lines up with .618 fib retracement level, so a bounce from here could be in the cards.
Projected target is 100% fibonacci expansion (or ABCD pattern completion).
Price has put in a nice reversal candle inside my reversal zone. I am now waiting for a L3C for entry reason. I will be looking for a retest of the lows for target.
Last couple of weeks we noticed bulls to be very active in this pair. That can be over very soon,cause we have some good indication that price will be pushed down. There is no Big Fundamental data that can strongly affect this pair in comming days.
Techincal analasys showed that USD/JPY reached 1D trendline. Near that level we also have ressistance point. That...
Hey guys,
I except a retracement on short term (4H) BTC price.
A regular bearish divergence and a HANGING MAN bearish candlestick reversal pattern makes me think of a retracement for next hours.
Also, STOCHASTIC shows that BTC is overbought.
What do you think about this ?
-the bulls breaks above a mid resistance level of a rising channel, but are we looking at a real breakout or it's a fakeout, now if you compared this breakout with the previous ones you'll notice that the price retest the resistance area and bounce up, not crushed down like the others
- And as y’all probably know, one of the more conservative ways to play an...
There is bullish divergence between price and RSI giving us a warning alert that price will be ready for a reversal. 10 am EDT is typically a options reversal zone if there are options to be released. Engulfing green reversal candle signaled entry long trade. 11:30 am to 12:30 EDT is London closing reversal zone. Pin bar doji with morning star 3 bar bearish candle...
USDJPY has formed a significant bullish engulfing with a very strong Bollinger Band outbreak, at a strong support level after making what appears to be a fake break below the support level. Price gaped up strongly, then formed a significant bullish engulfing candle. I normally only trade significant engulfing candles in the direction of the current trend, however,...
USDJPY - Bearish 1W Timeframe
Week Trade #4
Sell Order placed @ 108.703
T/P @ 107.500
Total pips targeted for week = 120.3
Updates / Adjustments / Results will be reflected in comments.
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider...
GBPJPY - SHORT - 1W Timeframe
Week Trade #1
Tentative:
SELL Entry Market Order @ 141.50
T/P @ 139.50
Total pips targeted for week = 200
Updates / Adjustments / Results will be reflected in comments.
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade,...
EURUSD - Bullish
1W Timeframe
Week Trade #3
Tentative:
BUY Entry Market Order @ 1.1928
T/P @ 1.2038
Total pips targeted for week = 110
Ref. 1 : A clear break & hold above 1.2080 will signal that Bullish Trend can continue up to 1.2330 in longer term.
Ref. 2 : A clear break & hold below 1.1730 will signal that Bearish Trend has resumed.
R3 1.2154 R2 1.2049 ...
GBPJPY - Engulfing Bearish Reversal formed 8-3-17
Pair dropped below key level of 142.00 and 200-day moving average suggesting further downward trend probability.
Next key level target @ 139.00 (June 2017) with further decline to 138.50 followed by 137.00 level.
Decline to 133.70 possible in longer term.
R3 142.52 R2 141.81 R1 141.21
S1 139.89 S2 139.18 S3...
