Possible to go short now with a stop loss above resistance. Target is 1.31348.
High probability that price will retest around the 1280 area before continuing downwards.
GOLD recently broke from the trendline it was respecting going up and upon the retest confirmed that the trend may be reversing. Whilst the trend does appear to be changing, price has approached an area which has found demand several times before. This is confirmed if the candle being printed on the 4H remains bullish and closes with a clear rejection of lower prices.
If this is a fake break, this is a nice opportunity to go short. Two potential entry points have been identified. 1. Price breaks below support and retests giving a short signal. 2. Price bounces off support and structure forms a head and shoulders pattern giving a short signal.
Good opportunity to go short to see previous range retested. Low risk with stop loss above two previous daily candles. Target is high of previous range.
Huge resistance ahead which price has rejected several times. Formation of a doji candllestick further indicates price will bounce off this level once again.
Risk reward is over 1:5. Even more conservative traders may wish to place their stops just below the previous daily low.
Since around the 7th of January, EUR/JPY has been trading within a range as displayed. However, price has recently broken this range. Two possibilities have been identified. 1. The breakout of the range fails similar to that which occurred on the 15th to 16th of January. This upon a retest of the resistance of 125 is a confirmed short signal. The target for this...
Seek entries based on price action on the lower H4 TF around the 1306 resistance or the 1295 support with a target of 1323. Once target is reached, upon confirmation go short to 1265.
A downside break of the range GOLD was trading within last week opens up opportunities to short. My analysis identifies two possible entries based on price action. 1. We may see a pullback and retest of resistance at around the 1288.5 mark. A rejection here is a short signal. 2. Price may fail to find support at 1280. A failed retest of this level is a short...