For those trading Yen crosses, I'm sure you all witness the extreme selloff across the board with yen pairs. Taking a look at GBPJPY on the weekly timeframe, price action is still holding onto a strong weekly bearish candle formation. There is possibility of a bullish retracement but I think it's best to wait and see how this weekly candle closes out. If we...
Taking a look at the weekly chart, price action is tagging the ascending resistance while RSI is well overbought. My intuition tells me we may see a bit of a pullback here before we break the ascending trendline and reach the next critical level of resistance
Taking a look at the daily chart, RSI and price action are printing some clear bearish divergence indicating the bulls are becoming less aggressive. Should price action close below the ascending trendline as displayed on the chart, this would suggest topping action. Trade Safe
Taking a look a 4 hour chart, price action closed strong to the downside on Friday. I'm not waiting for a bit of a bullish pullback to enter in on some short sells to the downside. Keep it simple. I placed a black line at each level I will be adding sells with my final target down at 180. That's it - That's all Trade Safe!
Taking a look at the daily timeframe, price action is now supported by the 61.8% retracement level. I believe there's a good chance this pair may start to continue bullish from the previous bullish impulse to the upside. With that said, I prepared a trade plan. == This is a 2 position setup == Idea is to buy 1 position now, and then buy another position if...
Taking a look at this pair on the daily timeframe, I am still expecting further declines as outlined on the chart. Full transparency, I'm not in on this trade. I'm waiting for a better entry price to go long. Somewhere around 25k would be ideal. Until then, I'm just not interested in holding onto BTC longs. That's it - That's all Trade Safe!
Daily timeframe's ascending support is questionable. I believe there is the possibility of this trendline breaking to the downside perhaps in this upcoming trading week. RSI is now below 50. I'm now just waiting to see how the next few days play out. I'm not in on this trade. I'm using this pair to help give me confirmation with other pairs that I'm more...
Taking a look at the daily timeframe, price action closed strong above the last candle. This suggests that prices are likely to move higher. I prepared a trade plan for how I'm planning to trade this pair as of the Sunday open. Trade plan is simple, Add first trade of 0.01 starting at 1.0684 and then add additional positions every 4 pips lower. Stop adding at...
Live trading, trade planning, strategies, analysis and education hosted by a 15 year veteran. Don't miss out on this live stream.
Live trading, trade planning, strategies, analysis and education hosted by a 15 year veteran. Don't miss out on this live stream.
Live trading, trade planning, strategies, analysis and education hosted by a 15 year veteran. Don't miss out on this live stream.
Taking a look at the daily timeframe, price action did break below the ascending support. RSI is also below 50. Those two indications alone suggest prices are likely to fail further. Knowing the fear that comes with Bitcoin traders, there's a good chance that this pair is headed back down towards 25k. Trade Safe Everyone
This pair is in for a bullish pullback. But first it's likely to consolidate at these lows for a little while. With that said, I came up with a trade plan to trade this. Basically every time RSI become oversold on the 5 min timeframe, place a few tiny buy orders, leaving room to add more tiny buy orders every 10 pips it drops further. This pair is likely to bounce...
Taking a look at the daily structure, price action will have a difficult time breaking above the resistance confluence zone which is why I have my final bullish target at that area. Furthermore, RSI is showing signs of exhaustion hinting this pair is likely to pullback.
So for one, the war with Israel-Hamas is intensifying which already caused Gold to blast off as a safe haven and stocks may begin to correct as which would naturally add strength to the Yen. With that said, I believe scaling shorts here at these levels is fairly low risk as long as the positions are well spaced out. I would even consider reducing lot sizes and...
So for one, the war with Israel-Hamas is intensifying which already caused Gold to blast off as a safe haven and stocks may begin to correct as which would naturally add strength to the Yen. Plus as we saw the last time when Dollar Yen reached the 150 psychological resistance, there was a strong drop to the downside. With that said, I believe scaling shorts...
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Starting with the weekly timeframe, we can price action completed a tweezer bottom with last week's candle creating the second strong bearish rejection candle. This is a strong bullish signal. Let's now take a look at the daily timeframe. == DAILY == With the daily timeframe you can see that price action made a clear break and hold above the descending...