This is a trade I would have been in on Friday, were in not for my 'no trades over the weekend' rule. This is a position trade based on the bullish engulfing candle as seen within a daily demand zone. This supports the trade as a key confluence in line with my swing trading strategy.
Looking to play back up the first wick range. **NOTE *** I have taken this trade...
Yen weakness over the last 2 weeks can be linked to low implied volatility (VIX), which is also reflected in other Yen cross pairs. US data continues to fall short of expectations, with the CPI and retail sales data disappointing on Friday, leading to the pullback seen off a daily resistance area.
Renewed North Korea missile tests over this weekend will likely...
UJ remains in a long term down trend on the daily. In addition, the 'Sell in MAY' hypothesis may be relevant for the pair giving more downside.
Looking at price action, we are sat around a key zone. If UJ breaks to the upside, I believe the highlighted black area will hold based on previous action and the fact it represents the 0.5 - 0.61 FIB level, thus push...
This trading week has been completely unconventional. Much easier than normal with mahoooosive downward bias being respected. Literally able to sell any form of rally and catch some easy PIPS.
What do I think next week? There is not much precedent to base this on due to price not being this low since November 2016. Currently sat in a BIG demand zone but will be...
1 hour failed to break over the zone, whilst 15 min closed with a pin bar. Price failed to break the zone on the last 3 occasions and according to normal market structure, it will fall back into the defined range. SL is above the high of the 15 min's wick and SL at 9 PIPS. 2 positions taken.
Long FTSE. In a zone buy upward pressure is apparent and it respected the 5 min trend line. Believe it could go up to 7380 but looking for 7360 as a TP level. SL below the trendline in case of a re-test. GBP looking weak on a daily outlook with 1 hour showing exhaustion
Again, looking at the characteristics of this weeks trading and looking to understand WHY things happened as they did.
FTSE100 is sat on a key level and therefore Monday's open will be crucial in determining the range for the remainder of the week!
Trying to understand WHAT happened in this weeks trading sessions and more importantly; WHY?!
I am now focussed on nailing this pair and will be posting ONLY USDJPY Forex analysis alongside FTSE100!
Study more than you trade!!
4 hour rejection off a supply zone, 1 hour POSSIBLE rejection of the zone, but an ascending triangle is formed on the 1 5min chart. It is worth noting that the US futures are DOWN though
This pattern of higher lows pushing against a resistance zone and therefore, in line with the usual structure; would indicate a continuation of a bull trend.
The size of the...
Symmetrical triangle on 5 mins pointing to break. 5 min candle closed above it so position taken. Although SL is below the base, could fail to break the small resistance level.
If it does break, look to upper resistance around 930
Wicks forming that look to be a sign of a fall, but as no lower-lows have been made so far,
could just be a consolidation before a push higher again. Waiting for the 1 hour candle to
form and provide a direction.
Short USDJPY out of a supply zone. 1 hour candle closed with a huge upper wick, whilst 2 15 min bear candles look like downward movement. Nice tight SL above close of previous 15 min candle and aiming for 10 PIPS
Quick short on GBPUSD as a continuation of the downtrend we have been in. Looking for a push at the start of the hour (12:00 - 12:30). aiming back for the support zone and tight SL above last 15 min candle.
SELL order placed below the small support level. UJ is following normal market structure; consolidating with low volume after a fall. Used a SELL ORDER placed below the support level to capture a move down into the highlighted support zone (Identified based on 1 hour chart).
Aware of news around 13.30 - 15.30 so may cancel order should it not be activated...
NCC has fallen by 29% on the opening bell after announcing EBITDA will be 20% lower than forecast. This, however - is STILL above the forecast given last year.
In January, assurance forecasted to be 35% higher than expected so a hit now comes off a higher than expected base. The fall is HUGE - expecting a bounce to FIB levels. Hoping to BUY tomorrow morning -...