Firstly price seems to have reversed from the weekly/daily ascending TL providing a bullish inside bar on the Daily TF. Secondly price then proceeded to break a small resistance level on the Hourly TF. Finally price has corrected back to the small resistance turned support and broke out of said correction with a bullish engulfing candle on the Hourly TF. Stop loss...
A recent h4 trendline break could have been a fakeout. The price was contained in resistance zone indicating the possibly. Weak GDP data inline with the short.
Price having a hard time breaking 1.095, retested the bearish h4 candle top (April 25th/20:00) a couple of times. Could move down to 1.086 for the short term, in line with USD/JPY touching 112.
Simple chart. Wanted to post quick before the move was missed! I believe the recent trend line breakout to be a fake out and see price pulling down before the daily candle closes. Price has just entered a lovely wick area with the highest test being just above 1.25. I am short at this area with my stop loss above 1.25 and my target being the most recent low.
As you can see from the chart what looks to be a lovely triangle! I personally think its going to break to the upside but as always let the chart make the decisions!
I believe USDCAD is due a drop down to 1.25. Has recently broken away from the lower trend line and proceeded to retest it. Price rejected before market close.
A little late in publishing this one but is still at a decent entry level, already had two amazing trades down to the 0.70 resistance now looking to get another one!
My logic:
Price capped by strong daily downtrend.
Price rejected at H1 trendline.
At the time it rejected stoch was overbrought.
My trading plan:
Am already in this position at the rejection of the...
Potential short opportunity for GBP/JPY.
My logic:
Approaching a nice downward trend line.
Stochastic is overbought.
Price capped by strong resistance at 164.
My trading plan:
Already short at 163.850 with a stop loss of 164.250 and first target 161.100. Small risk trade as I dont think the resistance at 164 will be broken, If it breaks I will look to re enter...
