The 200 EMA work very well on the FX:EURUSD longterm bearish market.
Buyers failled to breakout at the 1,12950 price, we go back on the shortterm range.
Support zone to watch : 1,11382
If the buyers could break the 1,12950 zone with 200 EMA too it could be a bullish signal.
What are you toughts about that ?
Sell stop placed at 1.16380 with Take profit at 1.16260 right above a critical support zone and Stop loss placed right above most recent successful resistance level at 1.16500. Based on the hourly timeframe a downtrend seems to be starting. I may have jumped the gun on this trend reversal but time will tell. Jumping in at the pullback.
USDJPY is trying to break above a bullish flag pattern, we can enter long targeting next resistance in anticipation of a continuation if it breaks.
If price breaks back into the flag channel, it may invalidate the trade and need reassessment.
The Gold chart looks almost completely symmetrical at the moment and may continue, bringing savvy traders some golden opportunities when paired with the current commodity bear trend.
Outside of that, look to significant support & resistance levels for entries and trade opportunities so you don't get chopped up in the middle.
GBPJPY is in a short-term uptrend (purple), however the overall structure is looking like a bearish flag pattern. We expect price to retest previous lows if the trendline breaks.
In the short-term, we have a potential leg up back towards resistance with bounces from the 200MA (break of orange line).
Some good risk:reward trades at the significant levels on the...
USDJPY is currently forming a bullish flag pattern and has created a minor higher low, rebounding off the 200MA twice. However, price within the flag is still technically in a downtrend until breakout.
Nice risk:reward trade setups at levels of significance
A breach of support may invalidate this structure
AUDUSD is currently range trading with a bullish-biased structure. If the new higher-low holds, we may see a break beyond resistance and new highs. Great trading opportunities at levels of significance on the chart.
Experienced Proprietary Traders