I'm looking at a Bullish trend forming, but ill be looking for a retest to confirm my Buys, if price respects the 50%..if it breaks it, I will wait for a retest of reversal patterns to go test the 108.00 area. (Feel free to leave a comment)
1- Shorts from 107.63
Best sell level 107.75
Stop: slightly higher than 107.90
If the first stop is hunted
2- Sell level 108.24
Stop: Slightly higher 108.53
Targets for both positions: 106.88 – 106.10 – 105.35
# Support broken
# Tested as resistance
# Sell signal printed
Selling at market price @ 109.668 with
# SL @ 109.890 and
# TP @ 109.099
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As usual don't bet the farm, good risk management won't kill you but the lack thereof could :)
Price is now at a strong resistance level and note the hanging man (hammer @ resistance) which printed - this is the sell signal.
Conservative traders will wait for confirmation (bearish candle)
Aggressive traders enter @ market price usually. This is for increased risk to reward ratio so
I am in short @ market price 111.952 and
SL above the high @ 112.227...
Salam and hi my name is Khalid Hamid. USD Index is showing a reversal, thus USD pairs might go down too (including USDJPY).
Early sign is there but still need to wait for a STRONG BREAKOUT signal to the downside.
Watch the video to understand. ;-)
Tomorrow is NFP and few other high impact data release so please be careful with your trades.
Good luck and...
We saw a nice bearish move on Friday as money flowed out USD into safe havens like the yen and gold. The up channel has been broken and I am looking for a retracement to the 50.0 or 61.8 fibonacci levels.
Once price reaches the 110.396 level I will look to price action for a sell signal to short this pair:
IF the above happens I will have my stop above...
Pattern: Triangle on 4H.
Signal and Targets: Bearish if the Triangle breaks downwards (TP 110.245), Bullish if it breaks upwards (TP 112.500).
*Note: First time on 1D that the pattern makers Lower Highs instead of Lower Lows. This enhances the potential of a bearish break-out.
Resistance tested as support and a buy signal (hammer) has printed.
I am buying @ market price 111.379 with
TP @ 111.986 and
SL @ 111.059
Stop just below the support and take profit at the resistance level
Going long on USDJPY
1. Price pinned the 50ema
2. Bullish engulfing candle pattern completed
My stop is a tad below the moving average at 110.110 and
take profit below resistance at 111.042
This set up is purely based on doing buys if price is above the 200ema using it as a trend filter and then the 50ema for entries targeting previous highs.
This trade has a...
Welcome back to a new trading week :)
Following some bullish trade ideas from last week and the week before, long orders were closed with little profit as the charts slowed down on the bulls and started to bring signs of bearish price action to the charts...
I have applied the top down method in analysing to find on W1 and D1 time frame corresponding...
Breakout from the bullish flag pattern on H4
Open buy @ market price 109.738
Stop loss @ 109.067 below the low and
Take profit at previous resistance @ 110.513
Note the hammer that pinned the 21 ema - buy signal...
Don't bet the farm and always exercise healthy risk management.
Price has just pulled back above the long term trend line drawn (on H4 and D1 tf) following the flash crash from last week.
Note the marked bullish engulfing candle pattern printed on support signalling the potential move higher.
I have opened a buy order at market price 109.042 with
*Stop loss below the support where I feel that the setup would...