The long term uptrend line was broken down. So now we have to sell this pair. We expect some retracement to the uptrend line and the resistance area @ 1.5700-1.5740. Great area to sell with 20 pips risk and a TP target @1.5450 which is a conservative profit taking area.
After printing a bearish engulfing weekly candle last week. I am expecting this pair to conservatively hit the 0.618 Fibo retracement which is also a major demand zone and a gap as well. So the target is 1.5539 to 1.5338. Good luck all
Looking to short the retracement Of this major uptrend from the current price down to @0.8150 area. which is the right buy zone for that uptrend. We are anticipating a head and shoulder formation and the price going down to visit the major monthly support area.
Looking for price to come down to the FIB support area @1.3268 to go long and take profit at the FIB extension 1.272 around 1.4100, ultimately we should expect the price to go up to the 1.618 extension where it meets the major downtrend line. Thanks for looking and good luck to everyone.
Here is a great short from 110.35 right below the 0.786 FIBO of the impulse leg down from 111.13 to 105.65. I entered at market and my conservative target is 0 retracement at 105.56. If and when the price gets down tere I will evaluate and maybe then will get out at the -0.272 FIBO. Opinions and feedback is welcomed. Good luck to us all.
Looking to build a long position between 1.0500 and 1.0600. This is a MAJOR demand area on daily/weekly/monthly charts. Our target is th
e neckline of the MAJOR reversed head and shoulder pattern around 1.1300. and SL will be placed below 1.0500. Potential profit is 800 pips and our risk will be around 100 to 150 pips. So managing your trade size is very important...
Taking a long from the 50% fib of the recent daily lows and highs , this is also a weekly/daily demand area so a bounce may be possible here. Target is 0.7500, unless we break the 0.7500 with force then we would hold that long till 0.7650. which is the bottom of the next supply area up If today's candle closes as a bear then this trade will be invalidated, our...
We favor a long position above 1.0530 "demand area" targeting the next major supply between 1.1500 and 1.1650 area. This is a long term position targeting almost 1000 pips. Small position size is recommended since we are targeting a 1000 pips or so. This way you have margin available for short term trades. I am long USDJPY, EURJPY and GBPJPY with small positions....
The pair has been on a sharp uptrend with an angle more than 60 degrees. It has reached now a major weekly supply area with a top around 0.8065. Sold this pair around 0.7994 and looking for profit around the 0.7500 area or better. Place a stop loss right above the 0.8065 figure risking around 70 pips for a possible gain of 500 pips. RR ratio is slightly better than 1:7
Looking at a possible double top or even another limited push to the upside but correction should be underway soon to the demand lever shown on chart. Confirmation is shown from the CCI indicator that the push up is about to be over. Your constructive criticism is greatly appreciated and welcomed.