I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've also been obsessed with Yen pairs along with Loonie pairs... especially CADJPY! I currently have 4 long on the Forex pair because of the formation of inverse...
Consolidation forming beetwen the 0.50 and 0.618 Fibonacci, i will wait a break of one of the resistance, feel free to take ideas but as always be carefully and trade with your own mind ;)
Usdjpy is poised to relieve the buying pressure short term, and with the double top I wouldn't remove a complete reversal off the table. We have a potential Cypher pattern completion @ 113.322. We also have a potential Bat pattern completion @ 113.551. Let's see how this plays out through the week.
Sell below 113.06. Stop loss at 113.96. Take profit at 110.97. Reason for the trading strategy (technically): Price has started to form a nice reversal pattern at our selling area. We remain bearish looking to sell at major resistance of 113.06 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, bearish divergence) and expect a drop...
Our preference: position bought above 113.20 with targets at 113.70 & 114.00 in extension. Alternative scenario: in break of 113,20, a continuation of the drop will be envisageable with 112,80 & 112,40 in line of sight. Comment: the 113,20 passing is a positive signal that opened the way to the 113,70.
Sell below 113.06. Stop loss at 113.96. Take profit at 110.97. Reason for the trading strategy (technically): Price has continued to rise perfectly towards our profit target. We prepare to sell below major resistance at 113.06 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and expect a drop towards at least 110.97 support (Fibonacci...
Hello Traders, Price is forming a reversal pattern and we have macd divergence but not so strong, look for sell as much high as you can. First target in the pattern at the bottom trend line. Good Luck! Cheers, Jonas
Buy above 111.31. Stop loss at 110.45. Take profit at 113.06. Reason for the trading strategy (technically): Price has made a retracement to its entry level and looks set for another bounce for a further push up. We remain bullish looking to buy above 111.32 support (Fibonacci retracement, horizontal pullback support) for a further push up to at least 113.06...
Sell below 109.66. Stop loss at 108.23. Take profit at 110.40. Reason for the trading strategy (technically): Price has dropped strongly towards our profit target. We remain bearish below 109.66 resistance (Fibonacci retracement, horizontal overlap resistance, for a further push down to at least 108.23 support (Fibonacci extension, horizontal swing low...
Sell below 110.66. Stop loss at 111.25. Take profit at 108.23. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area as expected and is on track to reaching our profit target. We remain bearish below 110.66 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down...
Sell below 110.60. Stop loss at 112.20. Take profit at 108.15. Reason for the trading strategy: Price has dropped perfectly from last week and reached our profit target. We remain bearish looking for price to drop further below 110.60 resistance (Fibonacci retracement, long term descending resistance, horizontal overlap resistance) towards 108.15 support...
Sell below 110.66. Stop loss at 111.25. Take profit at 109.14. Reason for the trading strategy (technically): Price has bounced up perfectly and reached our profit target. We now turn bearish with new elements coming into play. We look to sell below 110.66 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to...
I think there's a chance of USD/JPY going long if there's a break through the first red resistance line, however, if it falls beneath the black line. Possible short. Blue lines = supports