With markets on edge and Japanese inflation data this week, those short the yen are hoping the Bank of Japan Governor, Haruhiko " Kamikaze " Kuroda, will further increase the balance sheet through more quantitative easing. Because when everything else fails, he'll try to go all in. Or will he? Essentially, his brilliant idea to implement negative rates, or NIRP,...
I'm wait retest but I believe it will keep the main trend is down. converging lines indicate continued falling trend. Wait retest to validate input.
Finally a win. Weekly was making lower highs and lower lows - great downward trend. Downward trend had broken then longer term underlying monthly up trend. Took the trade off the 4HR - Saw a mini head and shoulders pattern emerging and thought Id risk getting in early and the formation of the top right shoulder.
The Nikkei is currently in a 10 week decline and hasn't reached its target. Today we observed a sharp retracement thanks to crude oil's short covering spree, and a very dovish Mario Draghi, sending ripples through the global markets. I expect the move to the downside to continue, after the Vix fell for more than 7 points. There are levels of support to be tested...
The description is on the chart. If you are interested in learning more about this approach to trading you can visit this link to find out more: youtu.be Good Luck and Happy Trading :)
it is not so perfect because C point don't reach 61,8
CHFJPY is in the area where a possible breakout to the upside will come, if it comes it will present an opportunity to go long short term.
Three drives pattern completion at previous structure level.
I know CHFJPY is not a common pair but I can not leave it when I get a signals. Right now the market is on the resistance. On one hour time frame, the market formed a doji. It is having difficult in crossing that level. There is a high possibility the market will reverse and continue with downtrend. I will hold a little and watch how the volumes will appear and...
I think that the trend continues towards point 5 and then follow the abc wave.
yen seems to be weaking, while do cross pair analysis, many xxxjpy has reached the demand level.
Expecting further downside in the pair and short opportunity once price breaks below the structure shown in the chart. Breakout we will see probably very soon and is going to be huge in my view.