Reason for Trade is Elliot wave and reversal breakout Strategy
Entry and target already given in the chart and stoploss as per your risk management
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OANDA:USDJPY
Last Fridays FX Sessions
Not bad for this pair for taking shorts.
I marked a few prime short entries on the 5m, and there were others as well.
I did not take an entry on this pair, but it was one of the top 2 pairs I filtered, to take a short.
Instead, I took one on the EUR/JPY.
Patience, and trade management.
Trade well
S&P500 D1 - US stocks starting to climb off the back of recent events, mainly the inflation turnaround and confidence in rate hike performance. Typically we see the dollar fall as the US stock market gains, or vice versa due to negative correlation. Risk on/risk off cycles in effect, largely influenced by global and regional macroeconomics when concerning the USD....
How can we use simple indicators to trade??
How can we use simple indicators to trade??
I Use 1 minute Chart of Mini dow futures contract
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Note: This is not trading advice, I am sharing this for you to compare with your own technical analysis.
As you can see there is a huge imbalance below, and the price has to fill it.
TSLA has situated itself pretty nicely.
Currently holding its position above the 980 control point and showing a temporary consolidation.
What to expect from here:
-TSLA between two points 1. 995 & 2. 1020
-TSLA has to break one of these two and confirm direction
If 1020 if breached to the upside
-1060 and 1117 are the next targets.
If 995 fails and confirms the...
USDWTI H4
Starting to pullback already, may have missed the boat on this one, but targeting a pullback towards that $70/b price before possible continuations downside again.
GBPUSD H4
Same again here for GBPUSD as compared to GBPJPY... Looking for a bit of a market correction here on cable before then taking off again.
Heavily influenced by 12:00pm events though, so please be aware and protect positions. Should be another interesting day with aggressive GBP related moves as previously mentioned. 1.33 is clear resistance. So a pivot...
GBPJPY H4
Lets see where we move towards today following BOE. Another big economic event which is going to cause a stir and shake up to the markets, especially GBP markets of course...
Break and retest seen and GBP bulls as mentioned on our IG post. Lets see what comes out of BOE and whether hikes surface and GBP rallies.
CADJPY H4
Next entry point marked on, as described in the technical rundown, and break and subsequent retest of this interim S/R level at 89.00 would be our next point of entry. Sold off a solid 110 pips last week.
89.00 down to 88.00 firstly, with potential to extend further beyond, targeting 86.300.
USDCAD H4
Just like we see on DXY, looking for that healthy pullback after the bullish moves we have seen last week.
1.24600 ish would be an interesting buy region for us as it would tie in nicely wi9th our S/R, fib support corrections.
GBPJPY H4
Still waiting patiently for the pullback up towards our 155 whole number price, key support/resistance and retest of the latest blood bath. Certainly a confluence zone, GBP has been paying nicely over the last couple of weeks, so happy to wait for this and set alerts/pending orders.
GBPAUD H4
As mentioned in the technical rundown, this was yesterdays trade of the day, I managed to bank 1.5R on this after pushing circa 2.2R profit. Couldn't optimise the close, but caught the biggest and fastest chunk which I was happy with.
GBP inflation data out this morning showing positive signs and outperforming analyst expectations. GBP positive, but...
USDWTI H1
Looking to see some sort of reversal here, on these H1 charts lower timeframe confirmation is usually required IMO.
Reason being, we typically move away from our big number, psychological numbers, key H4 supply etc... So in essence we are trading interim zones and banking on lower timeframe continuations.
Waiting for a nice price rejection or...
NZDCAD H4
Long setup indicated here, again another one carried forward from last week, looking to see if we double bottom from our interim support/resistance price. If we do, we have a solid 4.2R trade measured from our buy zone to take profit target.
We pushed just slightly shy of 2R on the latest bounce, but again, fresh week more volume. Lets see what we can...
USDCAD D1
Of course, inline with the DXY break we have seen, we have obviously got various USD*** bull break setups and ***USD bear break setups.
We have seen an initial rejection of 1.27800, not so much interested in the short setup we have indicated, more so jumping in with the bullish move from 1.26250 support up to 1.27800 again with the chance up breaking...
NZDCAD H4
Resistance has seen an upside breach. Waiting for a support pullback, once of the main perks trading this strategy, regardless of whether a zone holds and rejects, or breaks and retest. We can also prepare and measure the trade or alternative trade, depending on what happens.
As annotated, waiting for the pullback (just like DXY H4 chart) before...
