GBPJPY SHORTWe have seen price bounce off resistance 3 times, then a fake breakout, most likely a stop hunt. I will now be looking to short this.
Forexforecast
EURCAD SWING LONG! Price currently at a low and we are seeing signs of a reversal. Once we see confirmation this is a trend change and not pullback I will be entering long, TP is at the previous resistance.
USDCHF POSSIBLE SELL!We can see a very clear zone of liquidity, the rise we are currently seeing leads me to think there is a stop hunt happening, once this starts to reverse I will be going short and aiming for the previous low.
AUDJPY POSSIBLE SHORT!Price looks like its breaking through the uptrend we've seen for a while now. If we see confirmation of this I will be entering a short position with a sell limit (if price re-tests / pulls back to the trend line). There will be 2 TPs in areas we've seen price previously respect.
On the other hand, this could just be a bit of a fake breakout meaning it would be possible to look for a buy.
SHORT SELL OPPORTUNITY IN GBP/CHFReasons-
1) Weekly & monthly trend is down as per 200 ema & Ichimoku Cloud.
2) Current market structure is sideways/trendless.
3) Wyckoff distribution phase.
4) Decisive rejection from the upper range (key resistance) on the daily chart.
5) Small stop for reward 3x the risk taken.
6) Fibo golden ratio 0.618
Kindly trade at your own risk.
Good Luck ^_^
Game Plan #forexThe Chart: price has entered back into the weekly range into the near term support area. As long as price stays above 0.7080 the trend is still to the upside. Below that level the low end of the range (0.7000) will be in play.
The Narrative: The stimulus plan has been outlined and recent inflation numbers and retail sales have been announced. The short dollar trade is nothing new so there hasn't been much of a reaction to the recent news/data. The FED has been adamant about letting inflation run hot. Unless there is a more risk off tone to the equity market, we have to assume the downtrend in the dollar will continue even if it is sideways in the days and weeks to come.
Trade Update #forexeur/usd has fully reversed down to the bottom of he range (rectangle) so the trade has worked out so far but the questions is what to do next. I am watching the downward regression line. As long as we stay below the downtrend line then I will hold the short position. Hopefully the monthly rate of change continues downward as we break below the low of the range. But if we rally off the low end of the range and close above the trendline then I will close my position.
Potential continuation toward the low end of the range #forexOn the break of this trendline eur/cad could continue down to the low end of the range (large rectangle). As long as it remains below the down trendline, I think it will eventually get to 1.5300 and maybe beyond. Rate of change breaking down would also be a sign the lower prices could be on their way
Game Plan #forexEUR/GBP has been in a range for months now but is starting to show some weakness on a near term basis. If we can close below the weekly range low the 0.8932 area and remain below the downtrend line then the next stop should be the lows from November 0.8850. Given all the headline news about COVID and the UK it would appear to be negative for the currency but price is telling a different story for now. We have also seen a pick in the rate of change to the downside which may also be a sign of more selling to come. If we clear the downtrend line to the upside then the short play would be invalidated.
LONG OPPORTUNITY IN AUD/USDReasons-
1) Weekly & Daily trend is bullish as per 200 ema & Ichimoku cloud.
2) Price continuously making higher highs and higher lows on daily.
3) Previous resistance acting as support shows the conviction of the market participants.
4) Bullish divergence on 15 minutes (rsi).
5) Liquidity/stop gunt took place on H1 timeframe signalling that institutions and banks are also entering.
6) Possible reward much higher than the risk taken.
Kindly trade at your own risk.
Good Luck ^_^
LONG OPPORTUNITY IN AUD/JPYReasons-
1) Weekly & daily trend is up as per 200 ema and ichimoku cloud.
2) Inverse head & shoulders decisively changed the market structure from lower low to higher lows and highs.
3) On faster timeframes, price taking support on previous resistance actint as support showing conviction of the market participants.
4) Successful break & restest of trendline on H4.
5) Buying with small risk and big profit potential.
Kindly trade at your own risk.
Good Luck 😃
LONG OPPORTUNITY IN NZD/CADReasons-
1) Monthly, weekly & daily trend is up as per 200 ema and ichimoku cloud.
2) Decisive break of monthly upper trendline.
3) Higher highs and lows on the daily.
4) Previous resistance acting as support showing conviction of the market participants.
5) Small stop and bigger possible targets.
Kindly trade at your own risk.
Good Luck 😃
GBPJPY H1 TIMEFRAME ANALYSIS (SELL)The market has already formed double tops and it is also showing all signs that it will make a triple top setup as it approaches a strong resistance level. This also accounts for a market distribution phase. If this setup abides then we expect to enter a sell position with a risk to reward ratio of 4R. The entry point and exit points TP1 and TP2 will be as shown by the two green lines on the chart. The SL exit will be as shown by the red line at the top of the triple tops.
LONG OPPORTUNITY IN NZD/USDReasons-
1) Decisive bullish rejection from fibo golden ratio.
2) Hammer close at the support.
3) Previous resistance acting as support shows the conviction of the market participants.
4) Buying near the lower band of Bollinger puts more odds in our favour
5) Overall trend is up, we following the trend.
Kindly trade at your own risk
Good Luck ^_^
LONG OPPORTUNITY IN USD/CHFReasons-
1) Recent downside breakout making the noob traders open short positions.
2) Bank likely to book profits there and creating huge demand.
3) Stop losses of the bears getting triggered will also fuel the rally.
4) Monthly support is far important than daily support.
5) Buying long near the lower Bollinger band itself brings more odds in our favour
6) Bullish divergence on weekly (rsi)
7) Small stop loss and big reward capacity trade.
Kindly trade at your own risk.
Good Luck ^_^
GBPJPY SHORT!GBP/JPY is currently on it's 3rd touch of resistance. I am hoping to see bears come into the market, once the 4HR candle closes I will look to enter a short. GBP/JPY is also following an ascending triangle formation so it is possible bulls could push price above and make this setup invalid.
NZD/JPY Day-Trading 07 Jan, 2021 : long target 75.7 By jiucai334I'm not sure when and where NZD/JPY may rally or bounce to 75.7,
Anyway it's clear that NZD/JPY stay long structure,
I'm doubt that NZD/JPY have any chance fall below 75.257,
So I have many limit pending orders, each attached a little stop-loss.
Yellow text labels are buy prices, and Blue text labels are stop-loss prices.
LONG OPPORTUNITY IN EUR/JPYReasons-
1) Trading above the 200 ema & Ichimoku cloud on the weekly & daily.
2) Selling came at the weekly resistance but all supply absorbed.
3) Bears trapped and likely to have their stop loss above the recent high.
4) We enter where the bears are having their stop loss so that we can have a small stop loss with high reward potential.
5) Going with the trend makes it easy.
6) Breakout after long consolidation + retest.
Kindly trade at your own risk.
Good Luck ^_^
SHORT SELL OPPORTUNITY IN GBP/JPYReasons-
1) Trading below the 200 ema on weekly.
2) Rejection from the upper trendline of daily and weekly.
3) Formed "W" bearish harmonic pattern on the H4.
4) Noobie traders likely to go long as on the daily it seems to be an upside breakout+retest, not knowing we ready to steal their money :)
5) Bearish divergence on daily (rsi)
6) Good Reward:Risk
Kindly trade at your own risk
Good Luck ^_^
LONG OPPORTUNITY IN GBP/AUDCONFLUENCE OF WEEKLY HORIZONTAL AND TRENDLINE BASE SUPPORT.
SIMPLE PRICE ACTION.
REJECTIONS FROM H4 SUPPORT SIGNALLING BULL RECLAIMING~
