Price is nearly approaching the resistance level and from there we could wait for the reaction of the market. Either a rejection of the resistance and target the support or a break above structure that would give us bullish interest.
For the past few days we are seeing a sideways movement of the market by respecting the S/R levels. So for today we could enter long and target the resistance level if the market still holds the support.
As the the price starts rejecting the downside now we are more interested to buy for our trade. It could be a retest of the minor zone or just ride the momentum towards the upside but we are still bullish.
Just like GU price is ranging, but are short term bias is short since the market respected the resistance level. Either enter by riding the momentum or wait for a retest on the resistance level to go short.
Price is still moving sideways so we are short term bullish just to target the resistance level. We do have two options to enter, option 1 is to ride the bullish impulse now or wait for a retest before placing a trade.
If the price breaks above the S/R level then we are bullish with this pair. But if it manage to hold its level we are short for the price drops towards our higher timeframe support level.
Gold Neutral idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Gold is looking very bullish and it has been forming great structure but it is currently a bit overextended and price action is now resting near 1865.00 resistance.
The most likely scenario is that price action will head lower toward support before forming our...
EURJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We have recently seen a huge amount of volume here on EJ and are looking bearish on the 4hour timeframe. The higher timeframes are looking bullish so we need to see some more confirmations before we can enter on a trade.
Look for price action to follow through...
USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking very bullish here on UJ and we are forming good structure & a bullish channel. The most likely scenario is that price action will continue bullish so look for a break of resistance around 116.250 with a confirmed higher low above.
Trade scenario...
AUDJPY Bullish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall this pair has been fairly bearish on higher timeframes but we have recently seen a ton of 4hour bullish movement.
Currently, price action is bouncing between 83.250 & 81.500 with HIGH volume. The mostly likely scenario is that we will find resistance...
AUDUSD Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1:Overall we are bearish on AU but we have been seeing a bit of bullish 4hour trend.
Currently, if we’re to consider long positions we need to see a higher low above 0.72000. Also look for strong break out signals and strong bullish variations leading up to...
DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are looking very bullish here on DXY but we can see that price action is right near resistance around 97.250.
The most likely scenario is that we’ll continue bullish and break resistance. Wait for a confirmed higher low above 97.250 before considering...
If you held your trade last friday your tp would be hit now since the price already taps the resistance level. Now that the price is still moving sideways we are trading bearish and target the support level.
Price is already approaching our support level which is a good sign for us to watch this pair for our possible setup. Now be careful not to enter early so wait for confirmations before entering a trade.
Still in a consolidation period but price is pretty bullish in the short term bias could pullback and retest the support level. So we could buy at the support level then target the resistance level.
Yesterday the price retested the 4h resistance level. Now that it is pulling back and would like to retest it again could be the possible scenario for us or look for the next level of danger in the lower timeframe.
