I see USDJPY melting due to several reasons
It has been creating LH and LL
It has broken the counter trendline (blue)
I see it retesting the trendline (red) before going back down
The retest of the trendline is not only a support area but also a 61.8% on the fibonacci tool
Many confluences for it to keep going down
Is this a possible break out or just a fake break out.
I believe this is an actual break out but i expect to come back to retest the trendline before heading back down.
Regardless I have a pending buy or sell order depending on whether it returns back into consolidation or continues to move down.
I have 20 pip stop losses for both scenarios
Looking to long USDJPY as i see a possible head and shoulders forming.
I also see a zone that has previously been respected suggesting that it will also respect that zone.
I have placed my stop loss below the left shoulder low giving me a tight but secure stop loss.
Lets see how this plays out
There is a possible head and shoulders forming which would prompt EURUSD to go significantly up. Very tight stop loss
On the other this pair has been making significant lower lows and lower highs and with a breakout of the trendline I will wait for the retest and then sell.
I am currently in the buy with positive 13 pips at the moment
On the break of this triangle and above the previous high we will go long.
on the other hand if this pair breaks below the triangle I will go for a short below the previous low.
I am relying mostly on price action and chart patterns for this trade
EURUSD had a strong push upwards towards the end of the week.
It had very strong action which would suggest that we will see this week the bulls taking over the bears.
Lets keep a close eye on this one.
This pair has bee all over the place but the last few candles has not been able to break the support trendline.
GBPAUD has been going up and I see it continuing going up so I would like to see it go long.
This Pair AUDUSD has been in a range. When it breaks lets go ahead and either short it or go long.
Lets do a high risk high reward.
We can do a big lot size on this one as we are have a very tight stop loss with only 10 pips.
This pair did a false break out and activated my stop loss then went for a bullish run retesting the trendline before going up higher.
I see this pair going up as there is news to come. If it cannot break the trendline I will not trade it but you guys should look for shorts.
I am sticking to a long position.
Waiting for a clear break of the trend line with a retest or a bounce back from the trendline.
There is quite a bit of news for both the Euro and the US in the coming hours so very minimal stop loss with minimal lot size .