Coffee has been ranging between ~106 and 127. Price touched the bottom of the range and today's activity closed as an inside bar/candle indicating indecision, hence the potential to take a long position and reach for the top of the range.
entry - above high of inside bar
stop loss - below low of mother bar
target - top of the range at ~127
As you can see in the chart, there's little to no space in the range where USDJPY has been locked in for some time (since the recent lower point), so here's some things to think about:
The US Dollar Index ( USDOLLAR ) may breakout the resistance and go higher
Or it may get rejected at the resistance and come back all the way down
Considering both...
Entry price is $88 with one dollar stop loss, aiming for a fall towards eighty-two dollars. If successful, the reward would be six-fold the risk.
Full analysis: jmak.ws
GBP/CAD has tested the rough level of 1.8159 4 times within the ranging channel and most recently has closed as a bearish low test above this support level. This signals at a potential rally back into the top channel at approximately 1.8474 continuing to move within the range. There are two entries into this reversal:
1. Entry above low bearish test bar of 15th...
