Downswing retraced to .382 line of most recent uptrend (Aug 2 - Sep 13) approx 12 hrs ago.
Price interacting w/ 2 key points which could be a setup for a breakout:
1) trend line of this uptrend (best seen on 4 hr timeframe).
2) Top trend line of Bullish falling wedge pattern seen on 1 hr timeframe.
JPY news in about 8 hrs could lead to this breakout (of...
Two Harmonic patterns formed - Deep Crab on Daily, indicating reversal. Price hitting downward tend line on Daily timeframe. Also bearish pennant has formed on 4hr timeframe (albeit price is at top trendline).
Tweezer top formed on 1 hr. Hanging man on 15 min. Look for evening star doji forming on 4hr
SAR Just flipped to sell on 1 hr & indicates sell on 15...
Continuing to ride this most recent upswing (forming Sep 13- now).
Movement is breakout from ascending triangle as well as a cup & handle formation (Jul14 - Sep 15)
Set SL just below a level of support, that coincides w/ .236 fibonacci level.
SAR, DBB, and MA Ribbon all suggest buy on 4h and Day timeframes.
3:1 RRR, w/ TP below 0.236 retracement level.
Several factors coming together to suggest upcoming sell & potential trend reversal.
Price approaching upper trend line formed throughout 2022 on Day timeframe. This looks like the upper bound of a bearish pennant forming since 2020. Price seems to be testing a breakthrough of a bearish rising wedge seen on 4 hr candles (Formed Aug 25 - Sep12)-- this is the...
In uptrend on multiple timeframes, w/ Both Ascending Triangle and the classic Cup & Handle formation indicate buy, & break out may have started already, but not too late to get into this trade. Candles look good (engulfing on 15 & 30m and more).
SAR, DBB, & MAR all indicate additional confirmation indicate buy.
Took a smaller 5:2 TP:SL for now, will adjust...
Looks like end of upward retracement (sept 13-15) of downtrend (Sept 7-13). Likely another impulse wave down near/past previous low from day timeframes (Aug 8).
Nice action on fib levels on multiple scales.
SAR, DBB, MAR indicators inconclusive.
Hanging man on 1 hr & 15m & Day.
Entry, SL, & TP based on structure and fib levels. As usual, 3:1 = TP:SL.
Long term uptrend on Weekly , Daily & Hourly candles. Looks like Ascending triangle forming over past 2 weeks or so (price needs to return near 145 before potential breakout).
Price seems to be playing off of fib. levels from ascending lows& corresponding highs 9/6-7 & 9/9-13.
SL set based on these levels & mkt structure and TP set slightly below key fib...
Overall, market is in uptrend (since end of January '22) forming ascending triangle best seen on day timeframe - fakeout happened last week. This formed a shark harmonic pattern on 1hr, indicating a retracement up.
Other indicators, SAR on 15m, 30m, & day timeframes, and MAR suggests buy on day timeframe as well. Engulfing candles on 15m and 30m timeframes.
SL...
A little late on this particular setup, although a wider SL could allow action on this over the coming days.
Bearish wedge on 4h & D timeframes, price is retreating down to at least the bottom range of the wedge. Would likely signal reversal of uptrend since Mid August. If so, lots of opportunity to get in and ride to 1.60 or so...
If not, may continue...
Market in clear uptrend w/ confluence on multiple time frames (1h, 4h, D, W). Price currently touching support and trend line, forming double bottom on 15m timeframe.
SAR, DBB, & MAR indicate BUY on 4h & D timeframes.
Ideally we also see a bullish candlestick indication.
SL:TP = 1:3
SL placed slightly below Support / resistance formed 9/7 - 9/9 at 166.330
Continuing to ride this downswing. SL above previous high from earlier. Trend confluence on multiple time frames, w/ action and confluence on support & harmonic levels.
Larger scale (Day) shark pattern formed 6 days ago, indicating current downtrend, still ways to go with this, likely to 1.2910 or possibly 1.2725.
SAR, MAR, & DBB all indicate sell on...
Continuing to ride downtrend, SL set just above prev high. Confluence on multiple timeframes. Indicators on mult-time frames: SAR on D,4h, and 1h; DBB on 4h and 1h; MAR on 4h, and 1 hr.
Better if acting on a clear candle indication.
Market in upswing, and this may be an opportunity for a retracement. Two Stop orders submitted to catch a breakout in either direction. 1:3 RR.
First public post. Will likely elaborate more in future posts.
