EUR/JPY is in downtrend on the smaller tf, we can see we are in this bearish channel, im waiting for a pull back into our golden zone, entry will be on M15/M5, potentially targeting the bottom of this channel.
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Good luck, stay blue,
Ash.
We are just waiting for a break of structure to the downside to confirm the trend is still bearish, entries will be on a smaller timeframe with a pull back, waiting for rejections at our golden zone.
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Ash.
So as of right now AU is very bullish, its been pushing to the upside for sometime now. We have a H4 trend channel that is been respecting since the initial push, and now we have major H4 support level that's being well respected also.
How will i enter enter the trade?
I'll be waiting for some sort of pull back into that channel, hopefully lining up with our...
Price is in a clear downtrend, this trendline is being well respected with multiple rejections as we continue to the downside.
I'll be waiting for price to break this resistance level and look to get in on a fibonacci pull back into our golden zone.
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As you can see price has been in a strong downtrend for some time, we are now in a side channel, simply waiting for a break either side.
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Good luck, stay blue,
Ash.
Waiting for the trade to present itself, waiting for price to make a new low and look to get into the trade on the pull back.
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Good luck, stay blue,
Ash.
All we are waiting for is a break and retest of this major H4 resistance level before looking to go long, hopefully we can add a fibonacci setup and look for bullish divergence as added confluences, but right now its a waiting game.
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Ash
Its hard to ignore on the daily time frame we are making higher highs and higher lows.
Could we see price hit 144.653 and make a new high?
Comment your thoughts,
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Ash.
No need for a long explanation, the chart speaks for itself.
Major support is being respected, fib is drawn from major push to the high of the move, Fib golden zone is at the support level, beautiful setup.
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Ash
We are in a bullish market so only looking for buying opportunities.
What we want to see is price make a new higher high, taking out the previous one, then its a waiting game, waiting for retracements into that fib golden zone.
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Ash.
As you can see price finally broke out of that consolidation period, we broke a previous high making new higher highs on multiple time frames, we run our fib from the push out of the consolidation area to the new high, the golden zone highlighted in yellow has multiple rejection indicating a push to the upside, aslo acting as a support level. We belive EUR/JPY...
Very similar to the GBP/JPY post, im waiting for a retest of this major resistance level before i look to sell this pair, i know all GBP pairs have made a huge impulse move to the upside but dont forget the overall trend it bearsih, untill we see a clear structure shift, which hasnt happened yet.
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On the H1TF it is more clear check it out for yourself, i believe this is a stoploss hunt after price made a huge impulsive move to the upside trapping retail traders after GJ broke the resistance level. My bias is still bearish, Im waiting for a break below that level with a retest, check out my other post on this pair i will attach the link below.
Consiider...
There's a strong support level on the H4 TF which is also 0.5 on the fib level, this would be a beautiful entry.
How do i set up my FIB, from the most recent swing low to the swing high, entry on the lower TF with multiple rejection at that level followed by an englufing candle.
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Pretty simple, wait for the break and retest of the support level before looking for sells.
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Good luck stay blue,
Ash.
