EURJPY is my favorite pair. It pair draws beauty structures that only the trained eye can see.
Price is broken a dynamic rank strongly.
I propose two posibles stages. I am inclined by short position but keep your mind flexible. Just read the momentum of the market.
Jesse Livermore Old style trading, no indicators required.
Beautiful and clean structures for USDJPY.
We have to be patient and wait for the broke of the 15M Rank.
It going to be a great trade if you wait for the rights movements.
Old Style Trading - No indicators required
Jesse Livermore old style trading. No indicators.
Price describe ascend breakout mode, it could break the dynamic level offering a 3:1 ratio opportunity.
Price doesn't broke the last minimum the downtrend movement was weak.
Rally has strong yet
This is a trade for pick profits during the London and NY sessions trading in H1 timeframes.
We can see a beautiful dynamic rank. It can be broken to down offering a short position with 3:1 ratio and low risk.
If it's not broken we can put a long position in the below line of the rank searching for the last real maximum.
I HAD AN ORDER LAST NIGHT LONG AUD/JPY. I WAS TRIGGERED INTO THE TRADE OVERNIGHT WHICH IS A BIT OF PET HATE OF MINE AS WE SEE TIME AND TIME AGAIN THAT EUROPEAN AND US MARKETS SEEM TO REJECT THE ASIAN SESSION. HOWEVER MY CONFLUENCES ADDED UP WITH MY TRADING PLAN, I WAS IN.
UNPREDICTABLE AND UNFORTUNATELY FOR BRUSSELS THEY HAVE COME UNDER A SEVERE TERRORIST ATTACK...
Looking at the weekly timeframe, we see that EURUSD has been rejecting the level of 1.13500-1.4ish, and the Fib of 23.6%. We need a break and close above key monthly resistance+ trend line break at 1.15 which will lead us to 1.18500 + the 38.2% Fib. Also it looks like a higher high is about to be achieved for the EUR along with higher lows on the DAILY timeframe....
I'm paying dearly shorting the EURUSD but I find the chart very interesting.
1. Price is extremely overbought with CCI reaching its most overbought level going back as far as I can on TV.
2. RSI is approaching overbought.
3. MACD momentum showing price has still some way to go.
4. Price busts out of long term monthly resistance.
All in the backdrop of easing...
In my earlier post I said that I believe more in a down move for the EURUSD. The price actually gave now some interesting levels inside the range. My trading idea - short EURUSD under the local low and target for the local lows.
This is my MONTHLY VIEW on NAS100
What we see is normal.
First of all we have to look what is happening around the world.
German stock market has fallen 18% from the top. World MSCI emerging markets stock index movements in the measurement of this month, has fallen by nearly 10%. This may be the emerging markets worst August since 1998. These markets have lost...
This is an update to a previous analysis I posted here for $GBPJPY
The price broke down below the 178 support zone (now resistance) and below its daily 200 SMA line. This is a bearish signal that could hint that the price will eventually decline to complete the bullish Gartley (in yellow) and the AB=CD pattern (the wings).
As long as the price remains...
USD/CAD is consolidating and is trading in a tighter range as time passes. The long term trend for USD/CAD is still up as the price remains above the 100 period moving average and the 200 period moving average but over the short term horizon, the trend is flat as we could see through the flat short term moving averages coupled with the flat Tenken-sen and...