Market is on its way to the moon, it may break low but we have to play it since it has a pretty secure atmosphere, 3 take profit momentums.
If the market crosses one TP, we replicate the buy.
Pretty standard corrective ABCDE pattern , we are waiting for the 5th wave, but it is possible that it is the 3rd, so the market will tell.
This kind of canals need of...
JPY is moving in a nice range for the last while, which means we're going to trade mean reversion. I've learned that RSI, Stochastic and other overbought/sold indicators are more useful for this than trend trading, so we'll rely heavily on them for this type of setup.
- JPY is right at the top of the trading range, being clearly rejected with fat bearish candle...
March and April were bad months for my trading, but I still have factual reasons to believe that my thesis still holds in JPY strength.
Technical:
It was a rough 2 months for me trading the JPY. I lost in USDJPY when trying to short the pair; however, the JPY trade-weighted index is now at a weekly support level. It looks like it has found support here for...
It seems that the Yen TWI is awakening after falling to 50% weekly fib suppor. No one know if it will hold. No further evidence has shown up on the weekly chart, but it is reacting at this level.
Weekly View:
Daily View:
8 Hour view:
EURO has hit its minimum target for the ending diagonal on the daily chart. Next week can start to watch for potential shorts in EURO in general. Strong pairs like EURAUD, EURCAD and EURNZD would provide indicator for weakness in EURO in general. EURGBP at 8940-9050 should either breakout or breakdown from there. EURUSD is a tough trade honestly and any EURJPY...
After completing a 5 waves upmove which ended up broken in a strong impulsive manner, the yen is stuck in a Consolidation pattern which remains yet to identify but could be a Range.
After failing at breaking lower, price bounced and is now forming what looks to be bullish flag. Unless price manage to break the bottom, I'd expect more upside to revisit the top of...
(Stop Loss @ 0.00855) equal to Support Area, less than than means price action enters bear market.
(Take Profit @ 0.00864) inside the wedge, as my trade setup is Risk/Reward Ratio 4.66
(Stop Loss @ 0.00855) equal to Support Area, less than than means price action enters bear market.
(Take Profit @ 0.00845) inside the wedge, as my trade setup is Reward Risk Ratio 3:1.
Euro is starting January with a selective middle ground. Great against weaker currencies like USD and GBP and weak against stronger ones like AUD, CAD, NZD. Euro is practically nowhere with Yen. Great for range trades but sticking with EURUSD EURGBP as longs and shorting Euro with AUD/CAD/NZD.
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