Backed into a corner again on the 4 hour and I don't like that bearish TK cross, but the 1 hour chart looks great with a kumo breakout and bullish TK cross with the chikou de-clouding itself in the next few hours. Seems we are once again in a break out zone right at the 78.6 on the fib. We break 261, i think we are clear all the way up to 280, otherwise down we go...
Price is below the 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and Great RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.8643 (pullback)
Stop = 1.8663
Risk = 20 pips
Profit target = 1.8511 ( The projected daily low)
Reward = 130 Pips
RRR = 6.5 -1
2nd Entry = 1.8604
Stop = 1.8634
Risk = 30 pips
Price is above the 60 and 15 KS as well as the cloud. This is a Type MA trade with a High probability and good RRR.
Entry = 1.8206
Stop = 1.8186
Risk = 20 pips
Profit target = 1.8268* ( The projected daily high )
Reward = 62 Pips
RRR = 3-1
* the Daily Senkou B is at 1.8238 and that can be expected to provide
resistance. Depending on how the pair gets there I...
Price broke out of cloud on 2-Apr, retested top of cloud on 3, 4-Apr with bullish cloud and lagging span above cloud satisfying all long condition which was a good long entry.
Same observation for ETHUSD.
It was also a good edge-to-edge trade.
Monthly and Daily direction is down and have met a ll the requirements for a Cloud Breakout:
1. Have a break below the Cloud.
2. Have a TK cross
3. The Chikou is below price
4. The future Kumo is bearish
2 Potential entries for this trade:
First; The Breakout trade. Entry is 4 pips below the low of the Breakout candle (in this case we have to adjust for round...
Potential long position forming with Copper on daily chart. Using simple wave analysis, Ichimoku overlay, OBV and MACD indicators, signs of a trend reversal in Copper are showing adequate confluence. The daily chart for copper is a good example of plotting Elliot waves. As you can see, ABC corrective waves has fallen between impulsive waves 3 and 4. This is a good...
Gold is currently at a 13 month low and key indicators are starting to show a potential trend reversal. On Balance Volume is showing a divergence over the past week. OBV is a key momentum indicator and divergences in price and indicator usually provide a reversal signal. MACD indicator is a common divergence indicator and is showing clear divergence. Also, it is...
This pair has been in a nice bearish trend for a while, it's still forming lower lows and lower highs. Our major bearish signs are still there and I'm looking to hop in a trend continuation to the downside. I'm just looking for a move lower to enter my short bias trade. I've drawn out a few potential Take Profit levels on the way to my long term target of ...
Coming up this week we have the Bank of England Rate decision. It's pretty much set that they will raise rates and I believe this has already been priced in to the market already. Instead of playing on GBP strength based off the news I'll be looking for a drop shortly after the news hits. I'm waiting for a drop below the cloud to enter a short position. I've...
We're at an important level here where we've already been rejected twice in the past couple weeks. If we can finally breakout above the 1.1650 level then we could be headed up long term. I am looking for a tenken sen bounce to try and get in a bullish trend continuation. All signs remain bullish for now but I'll continue to watch our confirmations in case we get...
This pair has been on a nice bullish run lately and we are now looking for this strong support level to hold. I am looking to enter a kijun bounce trade here which will allow us to keep a pretty tight stop loss and a nice risk reward ratio. I am targeting the previous candle stick body close as my take profit point. If we break below kijun or our bullish...
Price has made two moves to the upside now and has been rejected. With the current movement I am expecting price to try and continue to push lower. If we get the drop we're looking for, it will also be confirmed with a bearish kumo twist that has been trying to complete for the past few trading days. As soon as we break below our previous low, I'll be looking to...
Price fell and and found support in the cloud, it's now looking to get a kumo breakout along with a TK cross. I'll be looking to enter a long on a confirmed move up and I've marked out several areas we can take profit at. We may get more opportunities to add to the position if those blue lines I drew also end up acting as support. If we fail to breakout and hold...