GC Short due to Dxy gaining strength resulting in gu and gbp falling and OIL back on the rise after a month long pullback, fibonacci and OB seems to be respected, VRVP is very strong also, keep the SL tight and minimise risk where possible.
my 3 entries on uj accross the past 2 weeks, this pair definitely becoming a favourite with jpy weakness and dxy strength. let the fibonacci retracement help u identify the lows of the pullbacks to finesse the markets. 140 on the way???
Longed AJ at 89.030 after a breakout from a bull flag on the 15 minute TF, price also dropped onto 0.382 fib level where i placed the trade with a tight SL minimizing as much risk as possible, i will potentially holding this trade for 500 pips up into the highs. TP1 has already been hit, TP2 at trend line resistance, TP3 at highs.
Wish everyone a good trading week.
UJ continuation as dxy breaks another major resistance only one more major area dxy has to break before an ATH, UJ broke out of a bull flag and is now in another. I believe we will see even highs this week/month.
Longed AJ during the range last week hoping for a break out which did happen once it broke past the 0.618 fib zone, ill be holding this trade until 96.5 for a 300 pip plus swing trade, TP 1 at the resistance however TP 2 at 96.5
Longed UJ last week due to the 0.618 fib zone and the uptrend support, this analysis paid of and have since moved SL to BE and took profit 1 at 124.680 i believe it will bounce from here and break resistance switching it to support where there will be another buy opportunity, there is also an opportunity to buy from this double bottom on the 15 min chart which is...
Nice double top formed on gu on friday i hope to see this downtrend continue into the 1.3 area i have 2 take profits set up creating a 1:4 rr trade.
covering my SL with the 0.382 fib zone where i may also add to my short.
Longed UJ at the 0.382 fib retracement, since thats point its respected the fib and rocketed up due to weak yen and a gap on DXY that needed to be filled i see UJ as potentially pushing up to highs from 2015 at 125.750 still good opportunities to get on the long when there are pull backs onto the fib or support zones.
UJ long to the 116 area bullish OB and .618 fib dollar has been very strong these past few weeks and i believe the streak will carry on pushing UJ even higher penetrating the 116 area and maybe even reaching the 116.1