Reasons for entry according to Confluences:
1.Broke key support
2.Retested key support
3.Previous support now resistance
4.Pair is forming lower lows and lower highs
5.Retest of fib level 38.2%
6.Pair is moving in a down channel
7.Daily,4H and 1H Moving averages crossed over to the downside
8.Good luck!
Reasons for entry:
1.The pair has been consollidating in this range for 2 months now and I don't believe it is going to break just yet.
2.I believe it will be bearish for the rest of the week before making the big bullish move for FOMC.
Reasons for entry-
1.Previous resitance is acting as support
2.3 Touches on rising trendline
3.I'm being a bit risky with one, but trading does involve risk. Doesn't it?
Reasons for entry-
1.Can't break neckline of head and shoulders to the upside.
2.Fib zone 38.2% retested for the second time
3.Previous support is now strong resistance
4.Low risk trade 30 pips
5.Kept on forming lower highs
6.Good luck
Reasons for entry-
1.Pair made 4 touches on resistance trendline
2.Kept on making lower highs
3.Fib retracement shows bounce on trendline falls on 61.8%
4.There is a lot of previous resistance at this point
5.200 MA touching previous candle.
6.Low risk trade
I expect the pair to move up to the 1.72350 as the resistance on 1.7200 is acting as the new found support. If the pair breaks the first target I expect a move to the 1.7000 mark. The pair has a very strong support trendline in correlation with the support turned resistance and the fib almost touching the 61.8%, I believe we have enough reasons to buy the pair.
The pair is forming a decending triangle. The channel of the triangle was faked out twice. It also formed a perfect head and shoulder formation. If you draw a fibonacci retracement, you would see that the head was formed on the 38.2% and could not break. The shoulders are formed on the 23.6% and a retest coming up to retest that same line. I strongly believe it...
I am going long on this pair as it is at a major support zone. It is in an ascending channel and I strongly believe it will carry on making higher highs and break the channel to the upside.My target is 0.71800 as it has confluence with my fib 61.8 retracement.It is also the next major resistance. I'm going to hold this pair for a few weeks to give it chance to...
My other analysis on the pair is to go short. But we first need confirmation such as a break of the trendline. The 1st target of a short shall be 113.00 after that I see it moving down to the 111.700 area. Monitor the pair closely.
I am going long on the pair,as it is consollidating around the 61.8% of the fib retracement. It also made 3 touches on the trendline and could not make a 4th as the support on the trendline is too strong. My first target is around 114.600 , I then expect a retest on the resistance if it breaks it. From there on forward I believe USDJPY will shoot for the stars.
I am waiting for confirmation on the head and shoulders to complete its formation.If it does I expect a short position.
Reasons for entry will be :
1.Break of the trendline after a triple touch.
2.The head shoulders that are forming.
3.The head and shoulders target from head to neckline confluences with the next weekly support line.
4.Fib retracement shows target...
