Hello traders and analysts,
Here is our quick take for GBP JPY - we have had some very good moves on this pair as of late with great opportunities to buy.
Overall the wave is bullish.
With a move on the Monday - to possible sell back to the zone in purple, for longs to regain.
This move could be possible due to the recent structure - price will be needed to...
CADJPY is seated on the MA200 on the 1-hourly chart, resisted on the 4-hourly chart's resistance level and look pretty flat on the daily chart, an aggressive shorting opportunity has been engaged due to the tight stop with huge profit potential.
Looking at this structure short on the EURJPY on the 60m. We have a clear level of structure looking left, price has gone overbought, there is bearish divergence with a double top. With Stops above the highs we have a pretty good risk/reward even for more conservative targets above the .50's handle. If youre more aggressive you can shoot for a lower level of...
Looking at this pair it looks like we have a few patterns setting up. Depending on what you trade we have a valid Bear Bat Pattern and Bear Gartley Pattern as well. I will be looking at taking the first to complete which is the Bear Bat Pattern. The Risk/Reward to target 1 is about 1/1.25 and to target 2's is roughly 1/2.
Looking at this level for a short on the NZDUSD 60m. We haven't gotten a confirmation for entry yet but this may be an area to look for a double top or a 3 bar reversal if you're aggressive. Setting up for a pretty decent reward to risk with just over 2.5/1.