Possible long on USDJPY good risk reward ratio 2.69. I am looking to go long if price breaks the 112.000 level and put my stop loss below previous swing low.
Price is also at a support on the Daily time frame and and a 50% fib retracement.
We have a possible Bullish bat pattern forming on the 4 hr chart for the GBPUSD.
Price closed on Friday in an area of support where a lot of buyers are pushing the pair upwards
Looking at the Daily chart for this pair one can see 2 indecision candles formed in the last 2 trading days.
I will look at it in the morning to decide whether to go long at a breakout...
Wait for the price to Hit PRZ at point D and look for RSI Divergence to enter a trade DO NOT JUMP INTO A TRADE before you see a clear sign of reversal.
Sell @ PRZ 0.77550
Stop Loss at 0.78578
Target 1 Fib (0.382%) 0.75246
Target 2 Fib (0.618%) 0.73842
Trade management move stop loss to break even when target 1 is hit or split your trade into 2 lots and take out 1 lot at target 1 and let the other one role.
The pattern is valid as long as price does not go beyond time fib 3 marked with a red vertical line on...
Sell PRZ @ 1.06557
Stop Loss at 1.07011
Target 1 Fib (0.382%) 1.05932
Target 2 Fib (0.618%) 1.05543
Risk Reward Ratio 2.16
Trade management move stop loss to break even when target 1 is hit or split your trade into 2 lots and take out 1 lot at target 1 and let the other one role.
The pattern is valid as long as price does not go beyond time fib 3 marked with a...
PRZ at 1.06088
Stop Loss at 1.05889
Target 1 Fib (0.382%) 1.06333
Target 2 Fib (0.618%) 1.06512
Trade management move stop loss to break even when target 1 is hit or split your trade into 2 lots and take out 1 lot at target 1 and let the other one role.
The pattern is valid as long as price does not go beyond time fib 3 marked with a red vertical line on the...
After price violated the bearish bat pattern structure with a strong price action signaling more potential upside movement our next pattern is this bearish crab on the same 30 min chart.
Previous Bat Pattern structure that failed below.
Wait for price to hit Point D of the Bullish Alternate Bat and For RSI BAMM to be Confirmed with divergence and go long on this.
RSI have to go lower than the 30 level marked with a green line but not lower than the previous low marked with a red circle on the chart.
This is a huge Bullish on the EURUSD if it is confirmed it might signify that the pair is going to turn around.
For now I am Neutral on this pair would like to see some more resistance breaking in the lower time frames like weekly and daily charts
Buy at 1.60810
Stop Loss at 1.57638
Target 1 Fib (0.382%) 1.6468
Target 2 Fib (0.618%) 1.67160
Trade management move stop loss to break even when target 1 is hit or split your trade in 2 lots and take out 1 lot at target 1 and let the other one role.
Do not use pending orders.
Note also that there is a Bullish Bat Pattern on the 4hr chart Completed at the same area.
