USDJPY is inside long term consolidation and break down opens a possibility for the drop to 104.00 levels. On the smaller time frames there are some indications of the bounce from the current lower consolidations line and my money would be on the bulls side. At least to 114.00 levels for now. Once that line will be broken I will start selling again, at the moment...
Down trend line has been broken, market had an Impulse, now consolidation on the chart, expecting another Impulse up to 0.9870 level.
Market is in uptrend and break of the current trend line would stop this trend. Current price action for me is just a pull back, but this pull back can go deeper 0.7350 area. At the moment bullish Flag is on the chart and price stays at the lower Flag's line. This is good reason to look for the signal to go long from the current levels.
Long term trend is positive and currently price action is drawing some consolidation. I will be looking for the false break at 145.00 level to go long. If 145.00 level will be decisively broken, this plan is no good.
This pair has a nice Flag on 4 hour chart. Next move should be down, but trader must keep in mind that GBPUSD is coming out of the daily Flag to the upside and short trade on GBPJPY can be very risky.
GBPUSD is struggling to lift itself up and there can be good chance for EURGBP to break to the up side from the consolidation. Small flag is forming near the consolidation's upper line on smaller time frame, which can be excellent entry level for longs. I will be watching for the signal to buy around 0.8830 or on the break out to the upside. If GBPUSD will manage...
Looks like nice flag is forming, I will be waiting for the signal around 1.2900 area. Target would be 1.3300
I think this is another pair is good for longs. Watching this pair closely. Next long term target (if another bull leg will start) is 1.7000
Just an observation. Very nice channel and looks like 4 hour chart is slowing down. USDCAD sooner or later will make a pull back and CADJPY has a chance to drop to 84.00.
This is just a possible scenario for this pair. Market can make infinity amount of other possibilities, but looks like this pair is in consolidation.
I had a small loss on this pair (entered most likely too soon), but I still think it is good idea to short it. If red dotted line on the chart will be broken this trading plan is invalid. Looking to sell again.
I would not be surprised to see this pair to drop. At the moment is completely bullish and there are no signs for sale. This post is only warning and to bring traders attention to the market's structure.
Nice flag on EURCAD and market should continue to the down side. My target is 1.4400. This is based more on CAD strength than on EUR weakness, I would suggest to be careful on selling this one. I am short, stops 1.4930 at the moment.
Looks like EURUSD on Friday has started new trend. It is still rising some questions, but smaller bearish trend line has been broken, price bounced from the consolidation's support line. Those two signs gives me a reason to enter the market on the bulls side. One thing is missing - I would like price to close above 1.1200 as this level represents a resistance on...
Another nice Flag in the market. This Flag stays right on major weekly consolidation's lower line and break of that line can open long way down the hill. If price will break that line - nearest target is 1.2960. Price closing above 1.3400 will make this plan invalid.
Looks like market established firmly near the resistance line. Such consolidation near the resistance usually suggest about continuation of the previous move. If price will manage to break out - next target is 0.7900. Closing below 0.7150 would be relief for bears. I have sold NZDCAD according to my plan, but such NZDUSD strength does not give an confidence on...