This setup is very similar to EURUSD. Nevertheless, GBPUSD seems more 'price-action friendly' than the Euro cross. The dollar correction has a daily target. If you zoom out the chart you shall see. ___________________ *For now on I'll reveal the money management of my trades. There are two major targets: the first one is at least double of the target two (the...
GBP/JPY IS APPROACHING SIGNIFICANT RESISTANCE AT 194.59, OFFERING A LOW RISK SHORT TRADE AS A DOUBLE TOP MAY POTENTIALLY FORM. PRICE ACTION PREVIOUSLY SUGGESTED THE 194.59 LEVEL WAS PROTECTED BY SELLERS, A REJECTION OF R1 AGAIN EXPOSES THE DOWNSIDE OF 190.97 (S1) - A BREAK OF THE SHORT TERM TRENDLINE THAT HAS FORMED WOULD ADD EXTRA CONFIRMATION OF FURTHER...
This is a close up at the late correction of USDCAD. I've identified as a 4th wave of 5 at daily timeframe, which is expected to go sideways for some moments. The entry is not aggressive as the projections leading price to the $1.35 in near future. Fundamentally it is quite possible as the recovery of the US economy and its 5-years-low-rate instigates a rate hike...
EUR continues to trade with high price volatility within its macro lateral range, defined in the related idea below. During a lateral market the best way to trade is to avoid betting on any kind of trends. Instead, it is more likely that price will continue to revert to its relevant moving averages on intraday basis (such as weekly and daily means, measured by...
POTENTIAL COMPLETION OF XABCD PATTERN ON AUD/JPY, WITH THE COMPLETION LEG FINISHING ON THE 0.382 RETRACE OF LONG TERM SWING HIGH/SWING LOW. A BEARISH REVERSAL CANDLE ON 30M TIME FRAME MAY ADD TO FURTHER CONFIRMATION OF SHORT TERM SELLING, WITH THE 91.30 HANDLE ACTING AS STRONG STRUCTURE RESISTANCE. DAILY SUPPORT ACTS AS A NICE POTENTIAL PROFIT TAKING AREA, SHORT...
Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links) Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days. Expected price target for this play is 130.90
AFTER A BREAK OF THE TRIANGLE/DOWNTREND, GBP/JPY APPEARS TO BE BULLISH AND OFFERS UP A DECENT RISK TO REWARD TRADE. ON THE 4H CHART THE 150/16 DAY MA'S HAVE TURNED AWAY FROM EACH OTHER FOR THE TIME BEING, INDICATING A POTENTIAL CONTINUATION OF THE LONG TERM UPTREND. TARGETS CAN BE SET AT 193.90's, A BREAK OF THIS LEVEL COULD LEAD TO AN EXTENSION OF 194.35, THEN...
The possibility of the down move continuation, details on the chart.
EUR/JPY finding resistance at 139.50's, price action on 1H + 4H looking indecisive/bearish. Long term trend line break adds further confirmation of short bias, short term down trend has formed on 1H time frame. Three tests of structure resistance on 1H time frame also indicates lack of upward momentum, short term bullishness is only abouve 139.50's. Looking...
Details on the chart. News are coming, and there is a possibility for EUR to go further UP. However, the major trend is still down. Selling the euro is probably better off the areas mentioned on the chart.
As another point of view, the DXY can be at the end of wave 4 of the current down move, so wave 5 of a larger grade has not started yet. Depending on how the day will be closed, it will possibly give us another buying opportunity for the dollar - opposite currencies.
With 2 consecutive bullish days, the US dollar index has confirmed it's reversal. possibility is that the wave V is at it's beginning. the T-junction for it is at the 93.75 area. In case if the area is broken down - we will have to change the view.
Probably EURUSD return to 1.3500 level and offer good opportunity for short position. The other possibility is that it continue for the 1.1500 or 11550. Pay attention to break out!
The pair fell to 1.46569 Level. Some participants missed the move and would like to have a peace of a pie. Basically one of the entries can be the breakout of the current local low, but, there is possibility that the upcoming US news will define a current low as a low for today. I suggest to wait till the pair will move towards 50% - 61.8% Area to sell. but...
In case if the price will be holding beyond 1.0585 Level, it can be signal to go short with a stop loss above 1.0610 However it can be a false breakout.
Sell Stop order at 1.47228 Target 1.4525, I also suggest to trail. Stop Loss above 1.4780 I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy), Sometimes I prefer not to wait till my SL is hit.
The pair is showing strength, and a possibility of continuing it's up movement towards 1.2950 is Highly possible, due to a pair's behaviour I suggest Using a limit orders to enter. The limit orders areas: 1.27737 1.27480 1.27330 The Lowest Stop Loss - 1.2730
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...