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Hello Traders, CADJPY completed a Wolfe Wave at 5'(5 prime) and is now looking at the Geo Off-Set Rule at point 4. An entry at this level will be of moderate risk.
All explanation in chart) Next scenarios in higher TF: Bear - wedge playing 1100> Bull - wedge breakout 1300<
Hello friends! I put projections of waves A (larger degree) and wave Y (smaller degree) down and amazingly it is the same area around 114 mark. We need to be ready to act as we will see sign of reversal to catch wave up it will be brilliant i hope! Best wishes, Aibek
Hello traders! I think USDJPY is going to reverse up in wave b (yellow). Entry 118.72 Target 121.50 Stop 118.00
I've explained on chart and will update.
This pair had been in an uptrend on the Weekly chart as you can see from the clear higher highs and higher lows we had been making since October 2014. I mentioned this pair in my recent youtube analysis www.youtube.com and how i was neutral given the recent Daily movement was hinting at bearish swings. We have now broken below our ascending trendline and driven...
I view this cross as the best way to express a short position on oil and Canada, while remaining neutral or short on the US equity market, and bearish on Japanese equities for the intermediate term. Canada and oil have a .78 correlation coefficient since the early 2000's. I believe oil will remain weak and will continue to put pressure on Canada's economy....
Looking to sell this at the right opportunity. Specifically if it breaks support, if it bounces up again, looking to sell at resistance. In either case, JPY as a safe haven will rise dramatically if stock market sees volatility to the end of the year.
This pair is now firmly Bullish both technically and fundamentally following the Fed rate hike and the current state of the Japanese economy. On the weekly timeframe we are in a clear uptrend and the daily showed signs of that continuing by making a new higher high recently. We retraced back to the 50% fib level and have now broken back above the key 121.80...
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
The J6 has returned to the scene of the crime and has kissed it good bye. A breach of the 8388 are and we will goto a lower time frame to look for a trigger. This will support higher equity prices.
There's a nice bounce today off 23.6% fibs for a good short entry if you have not done so. A reversal is currently underway for GBPJPY, as traders starts taking profit off longs against the Yen. Stops are placed at the previous high of 184.305, with 2 take profit area at 61.8% & 88.6% fib respectively.
The J6 is definitely weak and now has broken the April lows. This doesn't fair well for equities. If it stays below the most recent swing high then we could see more upside on the equities. The J6 didn't pull back far enough for us to initiate a short so we will keep looking for entries.
Will this level hold? The J6 has been dancing around for while now and I am sure it has eaten many accounts. However, now she has come down to test April lows. From this point we will nibble (small size) on any bounces looking for a break (and hold) below the April lows.