Identified a double top on the 4HR chart for GBP/JPY. Highest high met the highest close along with bearish divergence. Fibonacci came back into the 618% Have stop and targets at previous structure. Follow your Trading plan along with risk and money management! Please follow and support Star Prosper trading, This is Philip Stewart
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.
Last week, price managed to break and close above the previous structure high. However, just before the market closes on Friday, we saw a double top divergence formed. With the double top divergence in place, we are expecting price to at least retrace to retest the 95.00 region. As long as this level holds, we can expect price to head and form new high. However,...
In general, I am expecting a continuation of GBP strength the coming week, drawing support from steady economic growth with the revised GDP coming out as expected and recent labour market data coming our positive. The Japanese Yen on the other hand is under pressure with the BoJ revising their growth forecast lower and most of the recent Japanese data...
The less dovish than expected tone from the RBA last week, stating the exchange rate was still overvalued but failing to give any mention of a time scale for further rate cuts, made me less bearish than I was on this pair. On top of that, the FOMC minutes highlighted concerns about hiking interest rates too soon, creating some buying pressure. Last week was...
3 SIGNAL FOR SELL THAT IN CHART EXPLAINED. PLEAS READ TILL UNDERESTAND. THANK YOU.
Clear and well defined pivotal support/resistance around 89.80-90.20. Sell when NZDJPY rallies to re-test this price zone. For a more precise entry, look to short around 90.20-30. This is the double top neckline & 61.8% FIB retracement. Short NZDJPY 90.20-30 SL 90.80 TP1 89.00 TP2 88.00 ===== www.ForexPositive.com Twitter @ForexPositive =====
This pair fell sharply on Friday on the back of a strong US jobs report with a higher than expected non-farm payroll number (257K) and a favourable wage gain percentage (0.5%). Because of this strength in the US labour market, the USD immediately became bullish, creating enough selling pressure to make this pair lose 145 pips. The diverging economies as well as...
#APPL #Apple Short Idea (Bearish Divergence) Double Top RSI oversold SMAs Fibonacci
Hi Fellow Risk Takers, For those who trade using Chart Patterns, you will realize soon enough that real life charts look quite different from theoretical patterns mentioned in Chart Patterns literature. Here is an "Perfect Short" idea where price action are clear as day and a few separate chart patterns come together to build a solid projection to go Short. ...
This morning I posted a trade idea titled "3rd Times The Charm" In this idea I mentioned that i had previously taken 2 losers on this particular currency pair the day before and was ready to reload once again for another shot at getting short. Well that trade payed off as our double bottom/ Bat pattern (LTF) rolled over without much pain this morning and then even...
Tried shorting this pair twice yesterday and failed on both attempts. The first short came at the aggressive structure level that we talked about in Monday's training (which occurs around the B leg of the harmonic move I drew out) and the second attempt came at these very same highs. Unfortunately my stop was about 8 pips too shy and the market got me. Fast...
This pair had a 300-pip rally yesterday on the 1H when most euro pairs rallied after the Greek election results were known and speculation that the victorious Syriza party would not force an exit from the Eurozone gained ground. It reversed when it ran into strong structure resistance at 178.93. After a pullback its now approaching that same resistance level, but...
Clear and well defined pivotal support/resistance around 89.80-90.00. Sell when NZDJPY rallies to re-test this price zone. Short NZDJPY 89.80-90.00 SL 90.50 TP1 87.50 TP2 85.50
HHC is a little low on volume for me to trade but I like the sell/short set-up currently on offer. Price has the potential to fall to just below $104. There is currently strong support at around $100 (as seen from the weekly chart) and, if price approaches this level, we need to we aware of the weekly 200ma (which may come into play as further support). On the...
Double top formed at 1.236 Extension of AB, Previous resistance should become support between 0.96802 - 0.97191 which is 50% to 61.8 % of CD leg. If i get stopped out, I will buy @ 0.9472 (Cypher Pattern) There is a possible butterfly pattern. Post the chart @ comment box if you find. Happy Holidays! Bel-Air Trades.
After printing a high earlier in 2014 CPA has been heading down. It found some support at $100 and the weekly 200ma initially but now price has broken below this level. The move on the daily chart, since breaking below recent support and $100, has been quick (with a succession of bearish bars) and price is now approaching the pivot high (from 2012) of $86.50. We...