Reason for entry: Trendline pullback and weekly resistance
My personal view, always trade according to your strategy/plan!
Stop loss: 1.32850
Entry price: 1.32263
Take profit: 1.30750
Risk/Reward ratio: 2.58
% of equity risked: 1.2% of equity
Please comment and share your view, thanks!
On the daily chart price has been bulish 7 out of 8 days and if bulls are able to remain in control a move towards 1.7750 is very likely in my opinion. I am looking to benefit from such a move with a lower time frame entry. Looking to go long from the 1.7250 area with my primary target just shy of 1.74 and my secondary target at 1.7750.
Just to follow up on the EURGBP trading idea that I shared a few days ago. I'm still looking for a pullback down to the 0.8400 level as being the optimal level for bulls. However, as price has evolved over the past few days we may also have a closer level as well between 0.8520's & 0.8450''s especially if you're a day/intraday trader looking at the lower...
A Cypher potentially coming to a finish on NZDJPY 1H currently on a pullback of the CD leg. Fib extensions and previous structure suggest perhaps a trip to the .886 retracement but entry is @ .786. T1 @ .382 of CD leg moving up stops once it is reached. Risk Reward is not fabulous but it´s in an upward overall trend.
USDJPY still in a Down trend, keep an eye on this pair if it goes up to test the 105.56-106.44 Resistance Zone, this could be a great Pullback opportunity.
Watch out for bearish evidence and a potential move to the downside from this major zone.
Note : Market opened down, so your risk will be decreasing. Look for better risk-reward ratio and enter the trade
Market is continously in bullish trend
We are entering in pullback
RSI in oversold region
I see an opurtunity for loading in CNX since it has obviousl started its pullback. I broke the trendline and it is facing several supports (50 and 200 SMA and two previous highs). Each of them should be considered as long entry point.
Yesterday I mentioned that we have the potential for a bullish 2618 opportunity on the EURJPY 4 Hour. As we dug down to our intraday trading timeframes in yesterday's Live Trading Room session we identified another level that could end up giving us our first chance at getting long.
We'll see what the market has in store for us today, but this could end up being...
Happy Vishu :)
Note : Gap up happened previous day (190's - 191's ), so market will expect to fill the gaps and as expected if it fills the gap, it will be in our marked zone for Buy.
This trade may extend for a day or so if market movements are little slow.
Though its risk:rewards little more than 1.1, its good trade as per my trade rules.
Follow your Plan,...
Following up on the video that I shared with you guys last week, making a few predictions on the GBPJPY. We are now approaching a retest of the "B" leg for this potential Advanced Gartley Formation. (By the way well done 2618 traders!)
If you remember I was looking for a trend continuation opportunity & this advanced pattern formation would be a perfect entry...
Steadily gaining since the end of last year, this pair has recently broken through a key resistance level around 0.79000 after putting in a daily breakout pattern.
The swings on the 4 hour chart are very harmonic and even in size. They are increasing in time though. If we get a weak pullback into the zone around 0.79000 which lines up with the measured move...
I initially thought that Thursday & Friday would be our breakout days this week but it looks like the party has started a little early. Setting up on the EURUSD daily chart we have a potential bearish bat pattern completion up at the 1.1393-1.1500 level.
I'm not a daily chart trader, but i will be looking intraday for an opportunity to hop on a retracement and...