USDJPy has pushed through horizontal level @ 109.68 to now test strong daily trend line currently seeing indecision.
if price can break below 109.85 showing strong continuation... looking to take short a position with stops at previous 8 hour candle high 110.48
There is a support line (the yellow dotted line) coinciding with 78.2 and 88.6 area of a fibonacci zone which should provide support. A triangle pattern seems to be forming a wolfe wave since the 5th wave has gone outside the triangle support lines. I have put two entries, a normal entry and a conservative entry for traders who don't like risk, and again a...
40,0% More chances for a bearish continuation, what is confirmed by a recent 1d, 4h price action, and important level zones
Due to that scalping signals to be used are:
Sell stop 108,608
Stop loss 108,887
1st Target is 108,329
"A Time management and Money management must be applied to the signals.
This signals are part of...
AUDCAD is having some trouble with the bears. Nothing to worry about because being in a trend can give some very profitable opportunities.
Like this one if it continues to move downward. We all don't know if it's gonna happen but we can get a high probability out of it.
Having a flag pattern or a pendant formation gives you enough information that there's a...
Testing out a new strategy using clones.
Price will flirt with blue (90MA) line before breaking down to get back in trend.
Entry in top red block or blue below after retest.
Pay attention to trend lines and purple line (1000WMA) for exit.
Analysing market moves with harmonic ratios and harmonic moves, along with structure.
If the market retraces back to this 0.618 I'm going to go long. Stops are set below the previous structure low.
Target is set at the previous high, 1.414 level extension and 1.618 inversion, hoping for a re-test of the previous high.
If the market continues upwards towards the D completion of the butterfly pattern (blue) we could sell the USD/JPY towards the 0.618 retracement of the C-D move.
If the maket continues downwards and invalidates the butterfly pattern by surpassing point C, we could buy the cypher pattern (red).
A short trade idea on GBPUSD. Coming into previous resistance zone while forming a potential bearish bat pattern completing at the 0.886 retracement. This offers a nice short opportunity for those pattern traders out there.
Targets at 38,2 and 61,8 % retracement.
Stops above X.
The B point has retraced back to the 0.382 retracement of the X-A leg.
C has reached below B and we are now waiting on a completion at the 0.786 of the X-C move.
There is also a 1.618 level extension of the A-B leg at exactly the same area.
Stops are placed above X. Target 1 is placed at the 0.382 retracement of the hypothetical C-D move and Target 2 is palced at...
Cypher forming up on the hourly time frame on AUDUSD.
If the prediction is correct, it should agree with an underlying Head and Shoulders pattern (shown between the red lines), and perhaps be the initiating spark of a greater Cypher pattern on the daily time frame.
AUDJPY has been moving down on the larger time frames. Here we have a potential bearish bat pattern that could provide a good entry for getting in on the larger trade. Entry at 83.40. Stops above X at 83.85. Target 1 at 82.50 (.382 retrace), and Target 2 at 82.05 (which is slightly above the .618 retracement).
The GBPUSD has been a in long term down trend. Here we have a descending wedge so probably the prive will want to bounce of the last level of the wedge which retests the resistance.
However the structure outlined with blue line has a lot of potential selling power because it was recongnised by the market in the past.
Because of the general downtrend bias the...