This did not pan out the way we expected. But because we had sell stops and they weren't triggered we are still okay, now we wait for the move to the next level before we add or minus anything.
Is it going to be the same story again for the USDJPY? In 2022, the USDJPY climbed to reach just below 152 before turning down to the 128 support level. The similar price movement played out in 2023 as the USDJPY rose from the 128 support level to retest the 152 resistance level. The USDJPY has reversed down to the 140 price area (50% Fibonacci retracement...
ZOOM OUT, GO TO THE BIGGER TIMEFRAMES, THANK ME * LL LH * Pullback wave * trend = bearish
We had the wrong thought and were in the opposite direction which is okay because that trade was not taken. Due to low confluences and a weak RR, so technically we were correct in our analysis but wrong in our forecast.
This trade has me excited because we followed our rules and it paid of. Yet in my truth of trades, I moved my SL into profit, got stopped out then TP Hit.🤣🤣🤣🤣🤣 So I appreciate that I did not donate to the market but also that the analysis was inline with the market movement.
Here is the short version of the sell bias which will also prove that we are still going down. It is not a trade will be looking for as the RR is not in my favour. None of my triggers have been hit. I will wait and watch, because I have running sells with GJ I don't want to have a bias. I want a clean and clear reason as to why I would take those sells, not just...
142.00 Most important number here. Whatever happens here will determine our next move. This buy possibility is only based on a break up through 142.00 and then reject (Support) on it where we will see it fight and reverse back. - We need a long rejection to confirm - We have what is forming a double bottom (only 1 confluence) - More candlesticks showing slowing...
These are sell stops which I had placed on the 26th of December 2023, I got caught up and forgot about them. The market is currently not moving so I am at risk of losing these. Having not paid attention I could potentially hit the risk I had planned to lose. I had seen how the market pushed in between two price points (Blue rectangles). Found the probability and...
This went well. Double top where both almost knocked out the trade. What it showed is that, that zone was highly sensitive and a great place to have a sell stop and place 2 more trades.
NZD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 89.280 which is a pullback support. Stop loss is at 88.350 which is a level that sits under a pullback support and the 61.8% Fibonacci retracement level. Take profit is at 90.408 which is a pullback resistance. High Risk Investment...
NZD/JPY is falling towards a pullback support and could potentially bounce off this level to rise towards our take profit target. Entry: 89.249 Why we like it: There is a pullback support level Stop Loss: 88.992 Why we like it: There is a pullback support that aligns close with the 50.0% Fibonacci retracement level Take Profit: 90.405 Why we like it: There is a...
AUD/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 96.377 which is a pullback support that aligns with the 38.2 Fibonacci retracement level. Stop loss is at 95.330 which is a level that sits under a pullback support and the 61.8% Fibonacci retracement level. Take profit is at 97.452 which...
CHF/JPY is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 167.390 which is an overlap resistance. Stop loss is at 169.06 which is a level that sits above the 78.6% Fibonacci retracement and a pullback resistance. Take profit is at 165.725 which is a pullback support. High Risk Investment...
The buyers won this round and that is no loss for us therefore we stay watching and waiting for any of our triggers or rules to be followed before entering any new trades.
AUD/JPY is rising towards a pullback resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 98.053 Why we like it: There is a pullback resistance that aligns with the 61.8% Fibonacci projection level Stop Loss: 98.583 Why we like it: There is a pullback resistance that aligns with the 78.6% Fibonacci...
Here's the information we wanted and waited for. We'll probably get more movement throughout the day. Here's a trade I will be taking (Sell Stop) - LL, LH - coming from a bear move, shot up (falling to break high bear high) - Gap downwards, meaning we have to close the gap before real movement - This has been in a bear channel My RR = 3.75 which is inline with...
Back-testing this was one of my greatest lessons and pleasures of enjoying exchange and the markets of. 2009, 2014, 2015 & 2023 - These years are crucial because 190.00 beat them down telling them to sit TF down and show respect. Bigger view, zoomed out, 1M - shows 2 double bottoms - this indicates that we were bound to fight upwards - 2020 (1W) we shot up,...
Bigger timeframe has shown us LL and LH, therefore we are sinking. We should not be looking to fight the trend but follow and capitalize. So it to be clear and straight forward we will wait for one the rectangles to be hit, retested and candlestick confirmation in the area in order to decide what we are doing. With that gap we can guarantee that the gap will...