GBPJPY SHORT
Fib 61.8
Looking for targets at 152.500 which is also near a -0.27 fib take profit
Good market structure with nice 4 hour candlestick analysis
Possible Inverted Head n Shoulders
Price as created this right shoulder and higher low.
Euro was weak all last weak.
I do see EURAUD to show signs of bullish movement.
Overall TP - 167 Pips
Should see USDJPY start to come down.
The yen pairs look weak starting out.
UJ came up last week to a nice resistance level.
Looking to create a lower high around this level
TP - 55 Pips
Here we have a simple break and retest.
Gold broke above resistance at 1573.
Came back retested as support created a morning star candle on the 1 hour time frame.
Before the opening on London, this was a clean and easy setup.
The confluence of different time frames was also another indication to buy.
You could have secured at least 80 pips before market close.
Overall TP - 43 Pips
I have highlighted three areas on interest where either bullish engulfing candle was formed or morning star doji candle.
I believe we will soon see some bullish movement.
Price has been bouncing off support and has been held through.
GBPAUD LONG
Overall TP - 120 Pips
I have highlighted three areas on interest where either bullish engulfing candle was formed or morning star doji candle.
Price is currently entering low consolidation.
I believe we will soon see some bullish movement.
This was a longtime trend line that I had marked up.
Once this trend line was broken with an evening star followed by a bearish engulfing candle you had a nice retest of the trend line.
This does not always happen this clearly cause people can mark up trend line on how they see fit.
If you were not sure after the bearish engulfing you could have waited for the...
Highlighted we have US30 make is first low near support.
Then when market open we see a pullback being formed.
Check the 30 min time frame we have a morning star formed and take off.
I think its best to let the candle closed first and then enter.
You could have secured an overall of 2200 pips and only risking about 400 pips.
This is just going through market...
This is a good example of using support to your advantage when trading.
If you look at the two highlighted areas at support price created bullish engulfing candles.
It was a matter of time before price was going to take off.
Finally price slow down giving some consolidation this could be a potential entry for a buy.
Been able to secured an overall of 160 pips...
Should see GBPAUD come down for an overall of 163 pips.
I like the evening star formed on the 4 hour time frame near resistance.
This closed below the previous low high that is highlighted in the eclipse.
This is a nice lower high formation that I think will continue down.
GBPJPY created a nice head and shoulders.
On the left shoulder price failed to make a new high so we made a push down to form a higher low to create the head.
After the head price pushed down back to 142.300 area and then came up to create a right shoulder around 142.800.
This formation along with price being rejected and London session already opened this is was...
For those that may have issues identifying inverted head n shoulders.
You can use the higher time frames to see if the picture is clearer.
The lower time frames can give you a lot and make a bad trade setup especially if you are not with the trend or not near significant price.
By that I mean if you are not at resistance or support, if you find yourself in the...
US30 Long
Price has just tested resistance and should make a pullback for higher low.
With an earning call tomorrow morning we should see price make some strong movement to the upside.
Overall TP 4100 Pips
Looking for silver to continue downward movement.
Created a nice evening star doji on the daily time frame with a big bearish engulfing.
Came back to entry and continued bearish movement.
I see silver creating a new low
Looking for GJ to create an inverted head n shoulder on the 15 min time frame.
Previously has just bounce off 4 hour support.
I would say wait for the right shoulder.
Looking GBPJPY to keep bearish momentum continuing.
Waiting for a lower high to be formed near resistance.
All yen pairs were weak last week, gbpjpy created a new high near resistance and started its move down following other yen pairs days later.
That's why its important to trade what you see, not what you want to happen
Gold was bullish all last week, looking for that to continue.
We had a Morningstar formation on daily time frame and since then gold has risen 400 pips.
Looking for a higher low to be created on the higher time frames
Gold broke through resistance now looking for a test of support.
