Quick Scope - Range Trade Euro/Japanese Yen
Red lines should be stops/take profit targets. So you do not get stuck on the wrong side.
But the Chart should be self-explaining how to trade this with low risk
Good Luck Trading!
even thought there is a lot of event risk this week I can see a possible right shoulder printing for EurUsd on the 4h chart.
Risk Reward is excellent if you are able to catch a short on the right shoulder as I do.
TP1 - Neckline 1.250
TP2 - 1.110
GU - Long -
Since it looks like the markets are doing better then they did last week we could see a nice retrace of the big non stop sell of we had the last 24days.
Fib levels to watch. Stop around ~1.422
First Trade this week hopefully you all have a nice week!
Good Luck Trading out there! :)
EURCAD - Short - possible tripple top on a bigger time Scale.
Looking at the the EU and UC I could see this situation playing out.
On the one hand EU has a lot of room to move down. While UC already made most of it's big move and should retrace at some point quite a bit. All together this screams for a tripple ...
The push of GU creating a new low today shows that the Dollar is gaining momentum again.
The Trendline is going to be important if it breaks we should see quiet some follow through.
Also: seems like we did just form the potential right shoulder. Hopefully we will also see a lot of follow through once ...
Looks like there is still a lot of buying going on @the EU. As long as the trend-line is not broken look for longs.
Lets see how far this rally goes... Seems like the Speculations on EU QE / FED rate hike is priced in and we reached maximum at the extremes.
Lets see how this develops... The recent 500$ high reminds me a lot to the fomo 1200$ spike back in 2013.
Why didn't we spike to 1200$ like we did the last time? I guess that's because there is a lot of leverage trading going on and additionally in 2013 there was no option for shorting. That's why I think the 500$ ...
Should see some bounce after the constant decline.
Major Fundamentals are still in place therefor I don't expect key support breaks from here. Expecting a range trade trade between top 1.565 and 1.515 on the downside.
RSI oversold on the 4h, Stoch RSI starting to turn up after quiet some time.
Risk reward should ...
The chart with a larger time frame to my earlier published 15min chart which was too short term.
Stoch RSI could indicate a pullback before having a rocket up, so going to move my S/L to slight profit once it plays my way. going to kill the trade once it shows strengths to the upside.
Going to look for a long ...