Hi everyone Here is a trade I took countering the trend , very risky but it paid off I have marked out where I see the pound yen moving to the two areas where I can see potential breakdown of a trend going south Happy trading everyone Kris
EURJPY EJ 1D - Simple harmonic movement. Overall trend is uptrend. Currently price is making retracement. However, there is a SBR formation in 131.00 brn zone. Price might shift from uptrend to downtrend. Anyway, current price at 130.000 BRN level, also a fresh RBS zone. We can consider counter trend and target to 131 retracement. EJ 4H - Bearish...
This is what I am waiting for on the 4hr chart.
FX:USDJPY 1D - Overall trend is still uptrend. However, price formed a low last week and break the support @ 112 BRN zone. (SBR) Price might turn to downtrend based on this pattern. However, based on price movement behaviors... usually price will retrace back to 112 then only continue it's downward movement. On the other hand, if currently is the retracement...
Fundamentals are going to control the DOW for the remainder of the week. With Friday’s Q2 GDP release looming, we may be in for choppy price action in the next 48 hours. Until Friday's GDP release, selling the first test of 25,500 is not a bad way to fade today’s breakout. Here is the trade in the September E-mini DOW: Entry: Short from 25491 Stop Loss: 25526...
Counter-Trend setup, great Reward:Risk
Im not really one to trade countertrends, but i feel we could still see a small push from the bulls by the end of this week back up to resisting trend line. Im hoping after we see this small push back there will be a strong bear push down to break the counter trend and for us to find an entry into a potential long term sell. News has made pair very volatile this past week
Double top formed showing signs of more bearish movement
Markets pulling up into an area with lots of Fibonacci confluence there's also a lot of previous structure at this level stops will be above the larger swing high to give the trade some more room to work There's two separate 1414 retracements at this level as well as a 1618 fib all within a pip of each other calculated using the recent impulse legs There's...
Short this pair for a counter-trend trade. Great Reward:Risk. Educational Video will be posted to my inner-circle.
Today’s session has brought serious bullish heat to the USD/CHF. Price has steamrolled through the Triple Top Pattern (.9985-.9990) and appears poised to challenge yearly highs. A short from the Triple Top Pattern/Yearly High (1.0056) is a likely profitable trade. Here it is: 1)Entry: Sell 1.0049 2)Stop Loss: 1.0077 3)Profit Target: 1.0021 4)Risk Vs Reward Ratio: 1/1
Spotted this setup during the student meetup session, finally a retest and shorted this. Slightly shy of 1:1 in terms of Reward:Risk.
The price has clearly found support around 1.1540 and is now already at median line of this inside set. Another push towards the MLH is expected. 1R target is reached.
Now that price came to our major structure levels on the daily we seem to be having a hold.This indicates a potential buy for as confirmations of double bottom,higher high higher close and pullback have occured I'm entering next bar market on this one.
So yesterday i recorded a video and for some reason it posted as just an image, so hopefully, this time the video actually comes out so you can hear what i have to say about the eurusd. Akil
Is comforting when you engage on earlier pattern to see another 1 just formed on top of previous 1, adding strength to your trade. Also, there is an RSI Div, how great is that.
Hey traders! I wanted to spend a few minutes walking you through my broad stroke analysis on the EURUSD and what trading opportunities I'll be watching for the week ahead. Akil
The USDJPY is a pair that we've been following for a while now, and what I wanted to share with you some updated analysis on the pair showing an opportunity for both trend continuation and countertrend traders. Akil For a second I thought Iran was going to pull off the upset today.