AS MENTIONED IN MY PREVIOUS IDEA.
WAIT FOR BEARISH PRICE ACTION AT THE RECTANGLE AREA BEFORE RE ENTERING A SHORT INTO TREND.
SUPPORT TURNED RESISTANCE
H4 50SMA RESISTANCE
D1 20SMA RESISTANCE
SO AGAIN, BASIS FOR TRADING THIS IS BECAUSE ON THE D1 PRICE HAS BROKEN THE TRIPLE BOTTOM AND MADE A NEW LOW. THUS, IT IS ALREADY CONFIRMED BEARISH BIAS AND WE WILL...
In August of 2014 the pair broke out to the topside. Since late December we are in what I usually call on shorter timeframe's "buyer's remorse," although, it is harder to apply that to a timeframe like this because of macroeconomic trends and unforeseen geopolitical risks. However, the British elections are getting closer to completion, which should help alleviate...
SELL AT 176.95 WITH PRESENCE OF CONFIRMATION.
ANALYSIS IS WRITTEN CLEARLY AT CHART TOO.
SELL AT SUPPORT TURNED RESISTANCE
TRIPLE BOTTOM BROKEN, UNBELIEVABLE
W1 BEARISH ENGULFING
USUALLY WHENEVER I SEE A BEARISH ENGULFING AT W1 I WILL PLACE A SELL AT 50% OF THAT BAR.
176.95 WILL BE NEAR THE H4 50SMA AND 20SMA
THIS TRADE WILL STILL NEED CONFIRMATION AND IS...
GBPJPY got rejected at its 61.8% Fib of the 189.71-17549 decline and is looking primed to extend its declines towards the 170.82/168.02 target zone. All that stands in the way of the bears is the 175.49 February low. A confident break of this level will increase the probabilities towards it target zone. Intraday 176.79 is resistance. Bears have the upper hand as...
GBPJPY has found good resistance at the 180 level.
It has stayed below the 800ema for a while and looking to move down to previous lows of 175.50.
Stop just above recent swing high of 180.00
The price has formed new high, in case of 179.139 Level breakdown, the target will be at 178.223
Not recommending to sell of the market, but watch a PA to enter short, as a Short move has been confirmed by momentum - towards the main trend direction.
As for now, the SL's above 180.176 Target 178.223
Trading currencies with no stop losses is equal of being on...
The pair looks to be currently stuck in a bearish channel and closed on Friday below a weekly support level. the stochastic shows that the price will possibly in the immediate future look to test the broken support where it will encounter the upper limit of the channel creating a possible short opportunity,
Well defined PRZ on this pair for this harmonic formation. Points 1 and 2 are the retracement of XC. Looking for magic 0.786 number. It looks like first target might already be in play.
We have seen the 200SMA act as support for this pair in the past. I will be short here to the 61.8 Fib retracement from the december highs.
I am playing a similar scenario to the break and bounce from 20th February (noted on the chart).
My entry is dependent on PA around 200SMA,
SL:184.200
I won't wait for this trade beyond today, although this pair's reaction to...
We're just about to form the CD leg of a potential cypher pattern, so if your trading plan permits you could trade the CD completion, and then the cypher completion.
Remember what makes a cypher:
- AB is at least a .382 retracement of XA and doesn't have a candle close above .618 retracement of XA
- BC is at least 1.272 extension of XA and doesn't have a candle...
@TradeYodha
TradeYodha.com
(Just my ideas, do you own analysis)
Possible GBPJPY 4H Short Opportunity
1. Clear Cypher Pattern
2. RSI reaching overbought level soon
3. 10 SMA and 50 SMA are lagging
4. Must wait for a confirmation (double top and/or bearish rsi divergence) before going short
5. Can take 2 targets close to 10 and 50 SMA
