I'm seeing a possible piercing line candlestick pattern on 9/22. I sold a this pair based on a bounce off 38%fib level, looking to target lows of 111.
-I still like being short this pair based off the nice break of wedge.
-I like adding positions to my short if price breaks the 112. level of support
-I will be ...
-Price broke support of wedge and trending down very nicely. My first target will be previous low @ 102.15
-102.0 is a significant area of resistance with test in July '16, June '13 and Feb '13.
-Watching 102 very closely, if price holds to that area of resistance I will close entire sell position - if it breaks ...
Using a Fibonacci retracement starting from the most downtrend (117.35) to current lows and adding a second retracement from the "Brexit" sell off candle (111.30) to current lows we can see key points of interest.
-Price did a good job of respecting 38%fib level @ 107.65
-The 38% level lines up with the 61% level ...
Waited for price to retrace back to previous support. Based on Fibonacci retracement levels, looking for price to hit a minimum of 100% fib or 50% level of longer intermediary trend.
Stop: 1. Above the 38.2% (.7555 area)
2. If price closes above 50% level, will look for early close
Looking @ longer term chart, seeing possible sell opp. Price broke support around .7440. Sitting @ 38% fib level. With weakness in oil I think there's a chance it could break that fib level and continue lower.
Waiting to see how price behaves @ the 61.8% fib (Also lines up with that previous Low)
Long term descending channel. Over-all posture is Bullish the Yen. Simply looking to play a failure at resistance - Top of the channel. Targets and Stops will be based off the symmetry of the channel.
Entry: Sold @ 107 - Add positions with "retest" of resistance
Stop: 10% of recent low to high = 100pips = ...
Daily NZDJPY chart with possible Bear Flag pattern (The symmetry is there but the technicality isn't proper). Looking for a close below support and will sell into tested low of 73.00 and possibly even lower.
S&P setting up with a very clean Head&Shoulders pattern! Came off the high of 2100 very nicely and has consolidated to form the second shoulder. Price already made an attempt to break the Neck line today. Based off the range, once price closes below support we can expect of a move of roughly 60pts, which also lines ...
NZDJPY Weekly chart - Very promising setups based off of Fibonacci levels. Price made several attempts @ 74.60, 38.2% fib level, until finally closing below the last week of Apr and so far remains. Institutional sentiment is bearish the pair with overall Kiwi weakness and Yen neutrality. With an unclear view of Yen ...
4HR bull Flag setup. Looking for a close outside the flag before entering. With resistance @ 78.00, T/P level will be conservative, about 50% of pole, initial S/L outside flag, however will close if price returns back inside the flag.
Strong descending channel, nearly 9 months back. Price rejected support very nicely @ 112 area and made a steady bullish ascent right back into the channel. Based off the patterns symmetry, I want to short off resistance and back into this channel. Looking for some hesitation and bounce confirmation.
-Triangle type pattern
Typically will target width of Triangle range
Will take profit @ high and possibly re-enter
Posted this trade couple weeks back, (twitter)
watch out for the break!
Target: 1.03 Previous resistance
*If not in trade, wait for pullback