Crazy things happen!!! I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or...
EurJpy is very likely to move down further and possibly a lot more further. Stoch Rsi is showing selling pressure is increasing and price is breaking the 14 EMA (purple line) When looking at the Elliot Wave we can see a 5 wave structure completed and we are now at the end of wave 1 of a possible new 5 wave structure. Wave 2 the down wave might go to 120.49....
ABCD pattern and engulfing candlestick. An opportunity to sell.
Wave summary: The correction in wave B is likely not complete yet and we are looking for one more spike to a new low closer to 122.10 to complete wave B. If this count is correct, then minor resistance at 124.94 ideally should be able to cap the upside for a break below minor support seen at 124.09 and more importantly a break below support at 123.34 confirming...
We had a buy signal generated on FX:EURJPY supported by our technical analysis . Incase of a pullback, we expect a retest of the daily support and a rally to top.
Hey guys, i've decided to use two different charts so that you can understand my process of reasoning. On the left hand side of your screen there's the daily chart on EURJPY and the uptrend is crystal-clear. However, we know that price usually doesn't move straight up or down, instead it creates retracements along the way. So this is obviously a counter trend...
Hey guys, i've decided to use two different charts so that you can understand my process of reasoning. On the left hand side of your screen there's the daily chart on EURJPY and the uptrend is crystal-clear. However, we know that price usually doesn't move straight up or down, instead it creates retracements along the way. So this is obviously a counter trend...
Hey guys, this is the 1hr chart on EURJPY. As usual my analysis starts from higher timeframe, where you may see RSI is in overbought condition, and price action is now testing a key level of structure looking left. With that being the case, i want to seek for short opportunities on lower timeframes such as 4hr and 1hr. On the hourly you can see a nice double top...
Hey guys, this is the 1hr chart on EURJPY. As usual my analysis starts from higher timeframe, where you may see RSI is in overbought condition, and price action is now testing a key level of structure looking left. With that being the case, i want to seek for short opportunities on lower timeframes such as 4hr and 1hr. On the hourly you can see a nice double top...
Confluences are on the chart. Confirmed downtrend with lower highs and lower lows Looking like its reversing into 5th wave MA crossover on 4hr TF Rejection of long term trend line with tweezers forming on the daily TF My tip is wait for the daily to close as a doji or spinning top. Stops above previous spike (122.090)
EUR/JPY might actually go up 100 more pips. The confirmation is still not clear and needs more time. However if it holds it's support then we can expect this move to happen. That being said, wait for the confirmation and invest properly. Happy trading!
Two days before the first round of the presidential elections (23 April), the uncertainty remains high. Take the opportunity of a risk-friendly scenario or a strong risk aversion scenario by pending orders of both sides. The nightmare scenario for the market would be a second round between Far-left and Far-right candidates. Trade the EUR against JPY, considering...
1.90 AB=CD Price At 114.85 2.00 AB=CD Price At 114.60 So the price of D is good support
I am looking at a possible formation of a pin bar on the Daily chart of EURJPY.
EURJPY reach PRZ at the bottom of the range. This is a good support level, and i am expecting a bounce up from this level. Look for price action.