Daily chart is showing big bearish candle after pin candle closed below psychological level. There are two support areas on the chart. These are based on the GAP between daily candles on chart provided by my broker my broker. I placed the stop loss just above the daily bearish candle. I calculated TP based on Fibonacci ratios. I'm also bullish for EURUSD pair...
NZDJPY is in the process of forming a nice rejection Pin Bar candle off of the 81.00 handle.
IF the next candle breaks below this Pin Bar, I will enter a SELL trade. My target will be 79.40.
A PIN BAR HAS FORMED ON THE H4 CHART. STRONG DOWN TREND ON THE DAILY CHART.
FALLING TREND LINE
TAKE PROFIT IS SET TO HALF MY POSITION AS I THINK THERE COULD BE ROOM FOR POSSIBLE FURTHER DOWNWARD MOVEMENT. STOP WOULD BE MOVED TO BREAK EVEN.
Friday brought a huge bounce on very high volume at a great support level for CBS. There is also very strong bullish momentum divergence seen on the mac-d histogram and the stochastic oscillator makes it seem price is making plans to pop off hard. I would play a limit order for the closing price at 56.74 with my stop loss 5 cents below the low of Friday. Sticking...
