We have reached an important level with GBPJPY Trendline and structural level support insinuate a trend continuation trade I have opened a SMALL long position with a tight stop to feel out the market, will add to the position if price action gives me more evidence of bulls taking control of this market If we break downwards will wait for a retest and probably jump in short
618 trade with confluence of prior triangle trendline resistance coming in as support
I have accumulated a short position at each of the red circles at the top of the range of the bear flag I anticipate a break to the downside once the flag support structure breaks The flag pole was an impulsive move to the downside that broke the up channel trend line
I opened a short position Sunday evening at the 78.70 level, but was not able to post to tradingview. Took this on the 4 hour chart with an oversold RSI confirmation This is an update on the position We have been moving well due to an impulsive move down , price is now consolidating on the long term trend line and forming a bearish flag. We are up about 40...
AB=CD with Fibonacci confluence Also a Gartley completion at an 886 Fib level (green line)
Will be looking for a cheaper price and an opportunity to buy into USDCAD at the .618 retracement in hopes of an ensuing upswing to test the most recent structure high Don't chase price, wait for a good opportunity to buy low and sell high. Plan your trade and trade your plan
CADJPY has reached a pretty decent structure level resistance A double top has formed along with MACD divergence On the fundamental side of things the oil numbers oversupply & weak oil prices should affect CAD Anticipating some kind of bearish confirmation as a close below the neckline (dotted line) and moving average
Potential shorting opportunity with the break of this bearish flag Be patient and wait for a re-test and for bearish market confirmation with price action
Wedge/correction move has been broken to the downside We could expect more bearish momentum
Prize have been squeezed on this correction trend line and has met the longer term resistance trend line Somethings got to give I am short at .7350 Stops above previous structure Aggressive entry, but low risk entry
Some Fibonacci confluence at a strong structure zone and a trend line resistance. Some bearish pin bar candlesticks have formed at this level to go along with MACD bearish divergence Looking for a big correction to the downside
Took this short a couple of hours ago on the second pin bar formation below the black arrow. Seem to be a lot of sellers in this blue rectangle structure zone . In this analysis we had an impulsive move down with the succession of strong red candles followed by a small correction into the blue structure zone to close out last weeks session. Todays gap down closed...
Potential bat pattern on the 1 hour time chart Wait for D point completion Stops above X & previous structure Price seems to be trading in this down channel Also an unfilled gap towards target levels
I am long at the red line (double bottom) MACD Divergence Looks like we are in a corrective structure I think the eventual break is to the downside
I am selling this stop with a stop above the 1.4800 level Looks to be a wedge peaking out at a resistance zone with some MACD divergence The MACD seems to indicate that there was not as much strength in this recent up swing and perhaps bulls are losing momentum. Could form a double top and perhaps a cup and handle price pattern. If we reverse here this could be...