CADJPY has been ranging in between 86.3 and 84.6 for quite a while now. On the 8hour chart a pinbar formed which may signal another reversal. If price moves down sufficiently for a good lower low, there's a good probability it will move down further for a nice 1:2.7 RR trade.
Comments or idea's, please let me know.
Thanks for reading :)
Price has been moving in this channel for some time now, on the 4 hour it looks sellers are going to take price down to the next SR zone. Enter this trade on lower low for a 1:2 RR trade
Comments and idea's, please do post :)
Thanks for reading
if there's a break of the bull leg up (a lower low), price can likely move down to previous strong SR zone. The general trend is still bearish for this pair.
Comments and idea's? Please let me know in the comments.
Short at the top of the channel, if price makes a lower low we can see price move at least down for a retracement move towards fib 0.5 level. I took a more conservative TP which is still good 1:2RR
Comments and idea's, please post them below
With large amount of insecurity and uncertainty surrounding GBPUSD, my bearish sentiment on GBPUSD is at 99.9%. With that being said I expect 1.41036 to break, retest then make its way to 1.39426 as its next target.
-We are now down trending on the 4 hour chart
-We always want to trade in the direction of the trend
-We are making lower lows and lower highs
-We are trading below key level at 1.4000 Which we broke with a strong downside move
-If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level
-Sign of retrace...
Still currently in a long position since $260 and waiting for signs of a reversal. We could either fade out here or go parabolic into the $300s. Considering the news catalyst, I think we will probably go parabolic sooner rather than later and meet resistance around the same place as last time, where I will start looking for shorts. If the trend stays healthy...
We're sitting atop the local higher low here. As soon as we establish a lower low, the targets below are where I would expect it to reach. There is strong support around $200, so if it is going to turn around, I would expect it to turn around there.
Overall, I'm still pretty bullish, but we can't know for sure until we reach one of these targets and see what...