EURJPY 4H Returned to Range BoxRange box breakout failed. Pair re-entered range box. Sell Stop @ 131.40. TP @ 130.55
Rangebreakout
GBPUSD 4H Bearish PullbackFirst Sell Stop @ 1.3220
TP @ 1.3170
Second Sell Stop @ 1.3147
TP @ 1.3080
SL above swing high
Watch Macd Blue line cross below Red line
GBPUSD 4H Triangle & Range Box Breakout LongPair has broke long both the top Triangle Trendline and the top of the range box. I am watching to see if the market fails to progress higher and fails. It will fall or move sideways but if price comes back into the range box it will have a strong bearish momentum behind it. I have placed a sell stop @ 1.2978 to catch the fall. My TP is above the 23.6% fib @ 1.2890.
GBPJPY 4H Range BoundThis chart shows projections of possible moves for the GBPJPY 4 H this week. It is currently range bound. Looks like it may drift back to the bottom of the range. There it can bounce back into the range or make a possible breakout short. If a bounce then a move back to the top. At the top of the range box price can 1 - bounce back into the range if the timing for a trend continuation is not there yet. 2 -
It can break the top of the range but fail to progress the trend continuation of making higher highs and higher lows and fall back into the range box. 3 - If the market is ready for a bullish continuation then higher highs and higher lows will progress to be made.
EURJPY 30 M Range Box Breakout ShortPair has been moving in a range of some time on the 30 m chart. If it breaks out long then we have a day chart in the 132.50 resistance range. My bias is a short breakout.
EURJPY 30 m Range Breakout ShortPair has been range bound on the 30 m chart for some time. If it breaks long then we have a day resistance level at 132.50 range. My bias is a short breakout.
EURHKD Long Breakout Re-testHere's a breakout reversal play for EURHKD. Price has been locked in a range for months and finally broken out. We want to wait for the price to re-test the support area before going long. Enter long on buy limit order or on buy stop with price action signal. As with any trade, nothing is guaranteed. Size accordingly and manage your risk. Happy trading!
CAD/CHF Long Weekly Quintuple BottomWeekly Range forming Quad/Quintuple Bottom. New Higher Low formed at bottom of range with Bullish engulfing proving momentum.
XAU/USD: RANGE BREAKOUT - 1600 POTENTIAL PIPSAfter a relentless downward move, we see now nome kind of a pullback or pause in the trend.
There is still space to go down, for there is a magnet support at 4H timeframe (Blue line)
To confirm that the trend has resume, we need to see a strong breakout, and execute within the plan rules.
As you can see the price already broke the counter trend line giving us some selling bias
In this case be aggressive with the breakeven, we don't want to be part of an exhaustion climax at the support
MRC Potential - Shift to trend or back to range?MRC attempts to break its range, recent consolidation and far enough oversold area could allow it the breathing air it requires to get there, although a stronger breakout was preferred.
BEARISH CONTINUATION USDCHFUSD/CHF has been trading within a small range for the last couple of days as it struggled to breach the countertrend line. however even though it is still within that range it has again closed below and retested the trend line and is looking like it is picking up some downward momentum with a strong bearish engulfing on the daily chart. a breach of 0.95910 would set up an aggressive selling oppourtunity down into short term target at 0.94660. a more conservative trader should wait for a close below the previous break at 0.95707.
GBPAUD: The Uptrend ContinuesHi trader,
GBPAUD has been in a strong uptrend for the last two weeks. The breakout of 1.9450 suggests to me that this pair is likely to continue higher into next week. Trend following traders may already be long on the break (if so, well done, now just hold on!). If you have missed it, a more conservative play is to wait for a pullback to the breakout point of 1.9450 and look for buying opportunities.
If you don't regularly trade Pound Aussie be aware that it is a rather volatile crosspair and can easily move 100 pips in a short period of time (like it did 5 minutes ago with RBA rate statement release).
Good trading and have a great weekend,
Luke
