We have an indice analysis to share - as the Japanese stock market could be seeing a big move to the downside in terms of Drop base drop formation, where we have an impulse - corrective pattern and forming a base in the supply and then selling off.
We will look to add this to our portfolio and not the CFDs as the spread is high for many traders even with small...
Traders, looking at the USD/JPY on the 4 hour chart. I've done the bat pattern
rules and we're presented with a potential bearish bat pattern IF D leg completes
at the 886% retracement.
I've also done the FIB from C to D for stops and targets within the ROE of the bat.
Please trade at your own risk and don't forget to plan your trades and trade your plan.
Star...
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
The EURUSD seems to be forming a strong bearish divergence with both the MACD and the RSI. I believe this divergence will reverse after it reaches the 1.3965 - 1.4000 price range. Technicals are signaling further continuation to the upside after the bounce off the 38% retracement as well as a bounce off a new support lvl (1.3820 - 1.3780) which was previously was...
