ABCD COMPLETION @ 91.30. ALSO PREVIOUS SUPPORT TURNED RESISTANCE. GOOD RR TO ENTER SHORT AS TRADE INVALIDATION IS A H1 CLOSE ABOVE 91.628. OVERBOUGHT NOTE THIS IS SHORT TERM, FOR A BIGGER PICTURE UPMOVE.
AGGRESSIVE COUNTER TREND TRADE. @ 200SMA H4 AND SUPPORT LEVEL AND 141.4% EXTENSION. H4 CLEARER VIEW OF SUPPORT. H1 TRADE INVALID IF CLOSE BELOW SUPPORT LEVEL.
JUST WANT TO POST A TRADE I TOOK LAST NIGHT. SOLD @ 1.2766. W1 RESISTANCE TARGETS AND STOPS ARE SHOWN. IF STOPPED OUT @ BE, I WOULD ENTER SELL AGAIN NEAR 1.282 NO LOSS TRADE.
H1 PATTERN SPOTTED. GOOD OPPORTUNITY TO GO LONG AT SUPPORT LEVEL. PRICE IN A DESCENDING TRIANGLE PATTERN H4. DESCENDING PATTERN INDICATES PRICE TENSION BEFORE BREAKOUT, ALTHOUGH MANY WOULD DEBATE DESCENDING = BREAK DOWNWARDS. BUT I SAY CONVENTIONAL THINKING WILL MAKE YOU LOSE MONEY. D1 FAILED TO CLOSE BELOW 1.1000 ROUND NUMBER ALTHOUGH IT GAPPED BELOW IT...
50% REJECTION. BUY @ BREAK OF TRENDLINE RESISTANCE. ONLY GO LONG AFTER D1 CLOSE ABOVE TRENDLINE RESISTANCE. THIS IS IMPORTANT, AS PRICE COULD ALSO FAKE THE RESISTANCE AND TUMBLE FURTHER DOWN TO 61.8%. NO UPDATES IF LESS THAN 20 LIKES. SCENARIO 2 :
ANALYSIS OF DIFFERENT YEN PAIRS AND SHORTING OPPORTUNITIES. UJ CADJPY CHFJPY AJ
TRYING TO CATCH THIS PATTERN TO ENTER THE DOWN TREND FOR THE SHORT TERM. LOOKING TO TAKE HALF @ TP AND SL @ BE, HOPEFULLY FOR THE LONG RUN.
UPDATE: I WENT MT4 AND REALISED YESTERDAY'S D1 DID NOT CLOSE BELOW WEDNESDAY'S BULLISH BAR. IT IS NOT ENTIRELY A BEARISH ENGULFING PATTERN.. BUT TV'S IS... COUNTER TREND TRADE BASED ON PRICE ACTION. FAILED PIN BAR SIGNAL FOLLOWED BY BEARISH ENGULFING CLOSING AT ITS LOW. ALTHOUGH SOME CAN DISPUTE THAT WEDNESDAY'S D1 CANDLE CANNOT BE A BULLISH PIN BAR AS IT OCCURED...
INSIDE BAR FAKEY. FOR THOSE WHO ARE UNFAMILIAR WITH IT. LETS GO BEHIND THE PYSCHOLOGY OF IT AND WHY IT WORKS. PRICE MOVED UP OF THE MOTHER BAR WHICH WOULD TRIGGER TRADER'S LONGS, AS USUALLY TRADERS WOULD TRADE THE UPSIDE AND DOWNSIDE OF THE INSIDE BAR BY PLACING LONGS AND SHORTS ABOVE AND BELOW RESPECTIVELY. AFTER THEIR LONGS ARE TRIGGERED, PRICE SWIFTLY CLOSED...
PREDICTIVE ANALYSIS. NOT A TRADE IDEA. NO UPDATES IF LESS THAN 20 LIKES/FOLLOWERS.
WILL LOOK TO BUY IF PRICE SPIKES THERE DUE TO NFP. SIMPLE TRENDLINE SUPPORT. PROVEN RESISTANCE TURNED SUPPORT 1.5500 REGION. IDEA INVALIDATED IF CLEAN BREAK OF BOTH 1.5500 AND TRENDLINE SUPPORT IS SEEN DURING NFP.
POSTED AN IDEA EARLIER THIS WEEK WHERE I BOUGHT @ 130.00 AND SUBSEQUENTLY SOLD AT 2618 SETUP. I TOOK HALF OFF MY 2618 AND IS LOOKING TO ADD. CHFJPY IS LOOKING REALLY BEARISH. LAST NIGHT CLOSED BELOW 130.00 ROUND PYSCH NUMBER. ON D1, IT IS A BEARISH ENGULFING + A VERY BEARISH CLOSE AT ITS LOW LAST NIGHT. ONE CAN ONLY THINK OF SELLING THIS.
POSSIBLE 61.8% BULLISH BOUNCE. -TRIANGLE FORMATION, SHOWS PRICE TENSION. -61.8% -H4 200SMA -192.00 PREVIOUS RESISTANCE TURNED SUPPORT? D1 SHOWING INSIDE BAR/CONSOLIDATION ALL THE BEST. NO UPDATES IF LESS THAN 20 LIKES/FOLLOWERS
JUST WANT TO UPDATE A TRADE I TOOK LAST NIGHT. SHORTED @ 1.472 (200SMA) ONE COULD LOOK AT PREVIOUS D1 RECORDS TO SEE HOW RELIABLE 200SMA IS FOR D1 GBPCHF. PRICE REJECTED 160 PIPS FROM 200SMA ON MONDAY AND I WAS LUCKY TO SHORT IT AGAIN @ 200SMA. ALREADY SL @ BE. LOOKING TO TRADE THIS TO BOTTOM OF ASCENDING TRIANGLE. BEFORE A POSSIBLE BREAKOUT EITHER SIDE. ALL THE BEST.
ITS ASIAN SESSION NOW. WHAT BETTER PAIR TO TRADE THEN UJ. 90 PIPS PIN BAR FORMED AT RESISTANCE TURNED SUPPORT? 50% FIB? EASY WITH TREND TRADE, NOTE: UPCOMING US NEWS MAY SWAY THIS PAIR BEYOND EXPECTATION. BUT FIRM YOUR ANCHOR AND LET THE WIND SAIL YOU. ALTHOUGH I HAD VERY BEARISH VIEW ABOUT UJ LAST WEEK, THIS WEEK BEARS SEEMS TO HAVE BEEN UNABLE TO PUSH PRICE...
LAST WEEK I POSTED A EURUSD IDEA WHICH PROFITED VERY WELL FOR THOSE WHO FOLLOWED ME. THIS WEEK I AM STILL BEARISH ON THIS PAIR. SHORT @ HIGHER LEVELS. CONDITIONS/RR NOW NOT FAVOURABLE FOR SELLING ALTHOUGH IT LOOKS LIKE A GOOD SUPPORT TURNED RESISTANCE ON H4. BUT D1 RSI IS NOWHERE. W1 SHOWS VERY BEARISH SIGNAL. I WILL LOOK TO SHORT @ 1.129 (61.8%) OR 1.139...
I HAD A PREVIOUS SELL IDEA AND IT WORKED OUT REALLY WELL. 200 PIPS BANKED IN FOR THOSE WHO FOLLOWS ME. THIS MORNING, MY BUY LIMIT WAS TRIGGERED DUE TO THE GAP. BOUGHT @ 130.00 ROUND NUMBER. IT IS A HABIT OF MINE TO OBSERVE NEAR PYSCH NUMBER AND PLACED AN ORDER AROUND IT AS IT IS KNOWN TO "BOUNCE OFF IT". WELL IT REACHED 130.00 EARLIER THAN EXPECTED AND IM 100...
DOUBLE TOP WITH NECKLINE BROKEN. CURRENTLY @ 61.8%. 2618 SETUP. RISKY THOUGH AS GBP IS BEING PUSHED UP FIERCELY. BUT I HAVE FAITH IN 2618. CLICK THUMBS UP IF YOU LIKE THIS IDEA OR WISH TO RECEIVE UPDATES. NO UPDATES IF LESS THAN 20 LIKES. H4