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BoJ IR Event Based Click-In Scenarios - Updating DailyIf you fancy clicking into events, a good fill on any of the cases identified can provide sustained profit for a few minutes given the amount of volume and institutional order flow in USDJPY anticipating the interest rate decision this Thursday. The market is definitely expecting some relief for yen strength, as Japanese exporters are crying for mercy and Abe + Kuroda have promised some sort of easing, save helicopter money. The way I see it, a cut to -.2 and/or the unlikely scenario of helicopter money, or something essentially the same in all but name, will validate the bull theory and cause a whip up until around the at least the 107.50 (soft resistance) to 108.00 (strong resistance). A minor cut of -1.5 promotes upward move until the stronger resistance to 107.50 while the unchanged scenario will provide some bearish pressure to the 105 (soft support) to 104 (strong support) levels. This is purely based on how I have observed this product trading on the interbank FX ladder post Brexit and is subject to change given outsized news promoting dollar strength/weakness prior to the BoJ decision or any remarks by Abe or Kuroda in the upcoming days. I will update price targets and levels below throughout the week accordingly.
by roshhhyy
AUDJPY - [LONG] Second Scenario Display: FX:AUDJPY Description: As shown above we have FX:AUDJPY . Currently this pair is Bullish , Since breaking out of consolidation early March. As explained in the post before this we have 2 scenarios present, There is a possiblity we could close above monthly Resistance 86.40 - 86.70 we would likely wait for a pull back to that zone then LONG to 87.000 Then 88.000. On the Monthly we have a Bullish Engulfing candle, Weekly also Bullish & on the Daily currently we have a spinning top which has bounced off the 200 EMA . failure to close above the 200 EMA will likely see price decline/retrace. At the current price we have double/triple top if we do not close above. However a close above Monthly Resistance will show the buying power is not exhausted and could likely see higher highs. Using these indicator/s: On the 1HR We can see the 200 is acting as magnetic Support since the beginning of the week. Higher time frames we have the 10 20 EMA heading North, On the 1HR less bullish . Duration: Short Term Decision: I will BUY this pair on the break of the Monthly Resistance as it's held twice before, a break of this could see the same resistance line turn into strong support in the weeks to come. Trade Setup: Entry: 86.400 TP 1: 87.050 TP 2: 87.500 SL: 86.000 - 85.800 Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out. Your also welcome to post you analysis below. Remember to always trade your stratergy... Happy Trading Useful Information: TREND: Bullish INDICATORS: Moving average ATTACHED CHART : YES
Long
by MarlyForex
1
$BTCUSD BULL WAVE TO $500 BY END OF FEBRUARYBTCUSD HAS BROKEN OUT OF THE TOP OF ITS 28 DAY CONSOLIDATION AND HIT ITS FIRST RESISTANCE LEVEL AT $389.97. **LEVELS FROM BTCE:BTCUSD** HERE IS A LIKELY PRICE SCENARIO FOR THE NEXT 3 WEEKS: 1. PRICE FINISHES CONSOLIDATION AT FIRST LEVEL AND BREAKS UP TO 400.84 2. CONSOLIDATES QUICKLY BETWEEN $389.97-400.00 AND MOVES INTO $420.00-430.00 RANGE 3. FALLS DOWN TO 400 AND POSSIBLE QUICK BOUNCE TO $389.00 4. SNAPS QUICKLY TO $440.00, BOUNCES OFF $430.00 UP TO $463.15-470.44 5. LAST 1-3 DAY CONSOLIDATION BEFORE HITTING $500.00 RANGE BY END OF FEBRUARY UNLIKELY (BUT POSSIBLE) BEAR SCENARIO: 1. HITS UP TO 400.84 AND POSSIBLY $420-430 BEFORE FAILING TO BREAK 2. FALLS THROUGH $367.29 LEVEL AND HITS SUB $300.00 PRICES QUICKLY 3. WILL MAKE NEW TA MAPPING LEVELS IF BREAKS 367.29
BLong
by YungFinance
LONG/SHORT LNKD: WHICH DO YOU PREFER?LNKD price action is now showing potential trading opportunities both long and short. The short scenario: The broader time frame is generally bullish but currently we are facing bearish momentum. This is a healthy retracement since it has not compromised any significant supports so far. Using Elliott Wave, I have counted 4 waves of a bearish impulse. This scenario offers a higher probability that we will see a Wave 5 completion before this stock shows any sign of reversal. For day traders and swing traders , the key is to locate an intraday short setup that validates in order to participate in the 5th Wave of this impulse. Looking for bearish price formations on 15 minute charts, or bearish candle reversal patterns on 60 - 240 minute charts can provide an entry opportunity with limited risk. This scenario can be helpful because it can help you anticipate bearish price action over the next few days. If you intend to swing trade this move, make sure to read my bullish scenario in order to understand the price target. (See Short Target Area on chart) The Long Scenario: Once Wave 5 completes, we need to see where. There are a number of potential support zones between 206 and 202 areas, the 197.50 area and 192 area. Extreme Price Zone support refers to my particular setup that can result from a false breakout occurring as Wave 5 attempts to push new lows. This is one area to look for long validation. And just below that there is overlapping Fibonacci retracement support. The fact that we are trading above this area informs us that this is a healthy retracement and not overly bearish. The magnitude of this support area can make for a significant bullish reaction provided there is a strong broader market to support such a move. As a day trader watch these areas for bullish reversals and validation and be extremely cautious with shorts. As a swing trader, watch for the setup and validation near the extreme price zone. Since this stock is generally strong, the average target of 220.50 area (See Long Target Area on chart) is not unreasonable. Stops must be defined at the time of entry. The swing trade can take up to a week or more to play out and will require a strong broader market to support the move. Would you like to conduct your own analysis like this? Analysis and trading are two separate processes. How exactly do you use this information for trading? My Trader's Workshop Series addresses this. Learn how to analyze and trade any financial market on a technical basis which includes price action, order flow and other short term refining techniques. When it comes together, you have the qualities of a consistent trader. Read my article about the elements of a consistent trader here: www.unconventionaltrader.com
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by MarcPMarkets