Nice setup here, Daily range has broken and has now came up and retested forming a little counter trendline, if we break that with good price action possibly a bearish engulfing then its good to short with a nice risk:reward...good luck!
Too late for anyone looking to enter, I was meaning to post this earlier put was not at the laptop. I took an aggresive entry which paid off right at the top of the pullback. Currently 270+ pips up locked in a little profit so a nice risk free trade now just looking to ride it down and let the market dictate
This is more of just an analysis for me to check back on however i am monitoring this pair as it is at a key level.
Everything here is pointing south but we are at that key even handle of 0.70000 but if we get a clean break of the trendine and 0.70000 ill be looking for shorts for a 750-1000 pip move.
This pair is now at an interesting level, i took profit on my long trade late in the week as it hit my target area, we have now reached a key monthly Resistance level and the top of this textbook channel...we could potentially see the next leg down to test the bottom of the channel once more, or we could indeed break the channel and resistance either way i'll be...
Monitoring this pair at the moment for a possible counter trend trade, its not something i do often but theres multiple confluences to trade a possible 2/300 pip pullback on the overall bullish trend.
We have an ABCD pattern completed at the top of the previous range we was stuck in before which confirms this as a major resistance.
Thursday Daily candle also...
Hey guys, just a bigger breakdown on this pair you can see from my previous posts I took profit on this with the nice head and shoulders pattern completed on the lower timeframes however...this pair seems to be a bit untradeable at the moment as it is stuck in this nice range you can see if you zip down to the daily chart ive highlight the range with a white box...
Slightly leaning towards a Bullish move here however lets break this chart down ive got some setups for both a long and short....
Inner + medium TL broken
Doji (March) Off of support + TL (3rd touch)
Spinning Top (April)
Next major resistance at 0.77000
Bullish engulfing candle last...
Last weeks candle close showed a lot of bullish exhaustion, is it time for the bear run to continue?... I believe so!
We have seen a nice clean break and retest of the big 0.80000 psychological even handle which is most definitely a key level for this pair.
plenty of confluences for this pair, i've got a couple of setups on the 4hr chart ill be...
Just another repost of my previous setup but neatened it up a bit!
Failed to put in a new higher high currently in line with the previous high from 2007
61.8 Fib from swing high to swing low of the complete monthly move
78.6 Fib from the swing high below that level
March finished as a spinning top
MA's are about to cross on tomorrows...
Hey guys, not took to many trades this week myself like i said at the start of the week im just waiting for a clearer sense of direction... ive had a couple of intra day trades stopped out this week on EUR/USD & EUR/GBP but left my swings in play...
So...USD/JPY...I love this set up!
Failed to put in a new higher high currently in line with the...
Bit of messy chart for me but just a quick analysis...we could get a break of this CTL at some point this week the rest is self explanatory.... targets are the range of the double top extension plus the flag pole extension of the pattern which both targets also line up with the -27 fib and -61 fib
ill edit this analysis tomorrow and do a complete top down :)
So...what a week ay! markets were all over the place trying to draw people in for the most part, i dont believe too many people were expecting the sudden Dollar weakness on Wednesday and the market would of no doubt swallowed a lot of people up i got caught out myself trying to short Aussie but fortunately risk management kept me alive and i managed to end the...
Hey guys! just a quick one i thought id throw up, I havent had to re-analyse this pair for over a month now as you can see from my previous post on this where i actually lost that trade and got caught out by that false channel breakout half way through March...
Anyway after the Aussie Dollar tumbled today i think that'll be the start of whats to come for the next...