Looking at a risk off event leading the EUR/JPY to the downside we are at critical structure here as a corrective structure has taken us from the lows at 120 up to current prices of 124.80.
A break through the channel and this is going to be one hell of a set up.
Clear uptrend coming move is coming from the monthly time frame! Dollar liquidity issues as a result of global margin calls (whatever that means) is a big positive for US dollar. AND if stock optimism remains US dollar still favoured against yen for carry trade.
Keeping it simple on this long here - targeting 1.12 or higher - I am expecting some dollar weakness short term here and EURO going higher - lots of news this week going to rock the markets.
I like the bullish divergence between 3 and 5 - along with the ascending trend line that started when the euro bottomed in Oct 2019 - I see no reason why I should not risk...
Long euro using simple Fibonacci and harmonic analysis - many resources to learn these techniques are available for free. However find a good reference with academic credibility and learn from there, that will give you the confidence to pursue this crazy journey of being a trader.
Targeting 1.1250 however may leave a little skin in the game in case price proceeds...
This is a pure price action play - EUR/GBP Engulfing on weekly - why fight that price action? I am long until .8760!
Wide stop loss for trade due to it being generated from the weekly time frame. Stop loss should be below last week's low. Accumulate lightly at these levels as it could pull back further - or get in now however give yourself the wiggle room.
GBP/JPY has been climbing well since it doubled bottomed in Aug 2019 at the 127.50ish level. The buying is a the institutional level - WE KNOW STOCKS ARE GOING HIGHER negative interest around the world will be a catalyst for this. For now im long the break out simple #RECTANGLE pattern targeting 142.30 stop loss below #200SMA.
Comment if you find this simplicity useful.
Last Friday was good Friday for the US dollar we also got higher lows on the weekly after a nice impulsive move from the 100 lows these are two confluent factors that make me like the long! If you're entering at this price stop loss below the 109.80 should keep you in this trade to reach previous highs of 114.
This Pound has had an amazing run and I do believe its going higher but im getting the feeling that a correction is due. We hit resistance at 1.3160 which also lines up with the 1.272 extension of the last leg up and I also have 4hour bearish divergence. Those 3 factors combined and seeing the DXY bottoming at the 93.00 level is giving me confidence to take this...
If this 80.0 level holds we can see a nice correction in this Loonie strength, ill be looking for a move to 77 or 78 so set a liberal stop loss and take a modest position if you're going to take this short that way you can actually stay in the trade.
Hey guys we've had quite the run on euro which isnt a surprise if you saw the H&S forming on the DXY Months back. Now we are approaching some weekly/monthly resistance at the 1.1710-1.1720 level. I don't know if were gonna make it there or not if Yellen sends the dollar weaker I will look to short at those levels, if not I have my sell stop under 1.1609 ready to...
Looking at that beautiful resistance on the EURGBP.
Minimum target is .8100 and it would be really nice if we tested the .7700 - stop loss above .8000 or .810o be safe accumulate and scale into this trade as price action favours the short
Its time to start thinking long dollar - the dollar has taken a beaten given the break of the neckline of the H&S on the weekly time frame.
Price seems to be making a bottom I am looking for a retrace on the POUND and EURO and then we can think about going long on those pairs again.
The Pound has a beautiful run up against the cad especially as oil has been tanking.
Now however we have formed a decrepit looking H&S after a beautiful run up. I am expecting a retrace to 1.75 at minimum.
If Oil has found an intermediate bottom we could see the GBPCAD even lower to 1.73.
If you take this trade use proper risk management and understand why you...
Shorting at the end of a potential wave 5 with Bearish Divergence
Risk/Reward is good on this one - but higher probability of being stopped out since im with the trend. Risking 1% I can be wrong 2 times and still make money if I hit my prospective target of 1.24
Still looking for this correction on USDCAD to take us lower its been quite the battle but - i've been waiting for 1.3650 for quite some time - we were just shy of it by 3 pips on Apr 26, 2017 - at that point we had a huge impulsive move down - Price has stalled probably due to anticipation of the ECB press conference. Never the less looking for a big move...