USDJPY has retrace to a previous support level at around 122.30.
The long wick on the candle confirm that price are pushing on the downside.
I am going short at the opening of the next candle, SL above the wick of the candle at 122.28 and TP at the previous lower low at 121.50
It seems from the 4hr chart that GBPNZD hit the floor at 2.2416 circa.
The formation of those long spikes tell me that there might be a push on the upper side.
I am going long at the close of the next candle with SL below previouls Lower Low around 2.2364 with a TP at around 2.2994
It looks like the 4hr chart present an opportunity to enter a short trade since the price retraced to the 0.382 Fibonacci zone of the previous down trend leg.
I am entering short with a SL above the spike of the previous high at 38.67 with a TP at 35.10
The reason I have chosen 35.1 as a possible target is that I am ssuming that the price is going to reach the ...
GER30 broke structure on its way down at 10900 and then retraced at 10942.
When I saw a doji candle formation ( I don't trade casndle pattern but sometime it helps confirming a trade) I saw it was a good time to enter a short-term short trrade with SL above the doji high at 11016 and with target at 10686
The SPX500 seems to have hit a wall on hte top side at around 2097 after multiple touch but really unable to punch through the roof.
I have opened a short position when I saw that bearish engulkfing candle ( I dont trade candle formation but sometime it helps confirming a trade)
My stop loss goes above the previous resistance level and my target is at the previous ...
I know I should have published idea and not a trade that is gone, but I thought it was important to show you a very good set-up for a short trade using support and resistance level.
The black line you see there is a daily resistance level so when I saw congestion at that price level I thought it would be a good opportunity to go short at 42.94
I happened to be ...
It look like the price is on a congestion area at 1.5250 which was previous support if you look on the left.
I short hte pair looking to place a SL just above previous resistance at around 1.5270 and target just above previous lower low at 1.5040.
Let see how it goes!
I am looking at the NZDUS chart on the 4hr an the price seems to have found support at 0.6500.
Since the candle close with a long wick after touching support it seems a good point to get long with SL just below the support line and Target previous Higher High around 0.6595
It seems that EURJPY hit the floor at 131.50 and therefore after seeing a long wick on the 4hr I am going long.
I see this as a short term trade and I will follow it closely.
Ifit will struggle around 132.50 I might decide to close the trade earlier , otherwise I wil ltry to hit target at previous high around 133.20
I have noticed a bit of stalling around the 11000 level and when it failed to pierce through it seems a good place to place a short trade.
Stochastic confirmed oversold too.
It is short term and with target at 10712 (around the previous lower low level).
I will watch it closely and close the trade manually if neccessary.