Thats a big text but may add something to your knowledge about how the markets work.
I will explain a the reasons that made me confident about all those JPY trades, and that was the STOCK MARKETS.
I'm a full-time trader on the Brazilian stock market, it has some peculiarities right now, with all the political noise we are having here. But my knowledge regarding...
EURGBP may be giving us a excellent opportunity for a long trade.
After a big rally, it finally retracted to a support zone and broke out on the start of the week. Now it has came back to retest and broke a trendline on lower time frames. My inputs for this trade will be:
TP 1: 0.88530
TP 2 :0.90365
TP 3: 0.91870
I will be updating the idea as the...
GBPNZD has made a channel, broke it to the downside and now has retested, showing us a lot of rejection at the first Fibonacci Retraction, 38.2%. We can open a short entry with the following inputs:
Stop Loss: 2.06485
TP 1: 2.04440
TP 2: 2.03100
TP 3: 2.01500
CHFJPY is moving inside a triangle formation and recently made what seems like a false breakout to the downside. Now it's testing the upper trendline.
If it manages to break up and retest, closing above the blue zone, we can make a long position.
Will be updating if I open a trade on this pair.
GBPJPY broke a trendline and came back to retest and give us a selling opportunity. Stop loss will be placed on 135.400 and Take Profit on 131.290, around the first Fibonacci Retracement of this wave.
I'll be updating as the trade develops.
As EURUSD is approaching resistance on the top side of the triangle, i'll be keeping an eye on it for future opportunities when it hits or breaks the resistance. I'll update the charts on my profile as it gets closer to the possible entry points.
After breaking out from it's consolidation on the end of February and rallying up like crazy, EURCAD made a little break, did a retracement to the 61.8% level of the rally, and it seems like it's going for another leg up, or at least a last little push.
We can work with these 2 situation, and for that we have a mid target on 1.55900. If it manages to reach that...
After breaking out from the channel, AUDJPY is drifting and if it manages to go under the blue zone and make a retest we can make an entry.
Targets would be around 66.120 and 65.360, giving us between 4 and 5:1 R/R considering the stop loss above the last move, around 69.100.
A plus is the JPY being a strong currency during these risky times, that can help this...
After failing on the break of the upper side of the triangle, it's testing the lower side, with a week opening of great gains on JPY side. May continue the downtrend during the week.
Entry may be made if it closes below the lower side of the triangle.
First target is the 61.8% retracement of the move, with a R/R of 3:1 and stop loss above the last...