Yen has been really weak, and xxxJPY pairs have been rising after bottoming out this past week. This is a buy market order.
This is a buy order that will trigger once price has broken 113.35 resistance area, and the pink resistance trendline shown above. Stop is below these two levels, target slightly below next major area of resistance
The time has come to short this pair once more this week. On the 1h chart, we can see a couple bearish candles, but they are not strong yet. Preferably I would wait until Tokyo opens so there is more volatility. Stop loss is above the high, target is so that the risk to reward ratio is 1:3
Not a signal, not telling anyone to buy this as well, but this is how I did so.
A continuation setup on GCad, to provide more bearish movement if this setup's support trendline is broken.
On the 1h chart, we can see the main resistance trendline, and the 1h support trendline. Price has been rejected off the area below and around the black resistance TL several times, soon it will be going down.
Price has now retested the broken support TL once more, in the newer green circle on the chart. With DXY gaining more strength now, EU is going way down. Like I said before, short xxxUSD pairs if you see a good setup, long USDxxx pairs if you see a good setup.
Forgot to post this when I took the trade lol, you can still take it and adjust your risk to reward.
At the top of the uptrend, we have a triangle/flag whatever you want to call it, that has formed and is now converging. Most likely the move is downwards, and we have NZD rate decision in 50 minutes, so that will have a huge impact even if the news stays the same (which the rate likely will). This is my Risk to Reward Ratio.
Short off a rejection from a previous level of resistance/support. Almost a 1:2 risk:reward ratio
Price has been consolidating just under this trendline and has returned to it once more. Risk to Reward ratio is 1:3, with the stop loss slightly above the most recent high. Theoretically, as long as the downtrend is intact, and with Brexit more likely officially happening, this is a good position to take.
EURUSD finally broke through the pink support trendline shown above It went up to retest broken support trendline as resistance, and failed as seen by the second to last bearish candle. This is roughly my trade, and connects to my post about DXY finally breaking the bearish 4h channel, and retesting broken resistance as support. EU, down we go.
The US Dollar has been in a bearish trend downwards ever since the start of 2017 markets Now it has finally broken the resistance trendline of this channel. Quite notably, the 4h candle circled broke below 100.24, an area of short term resistance that is easily seen on the 1h chart. However, price closed above it, indicating that the downtrend is finally over...
Earlier I said price would retest resistance TL, and it may, but watch for just a straight out drop from here on out if it hits where the green line is.
So we have a decent resistance TL, and there can be some argument here about its validity because there have been enough highs on this chart to plot 10 different trendlines. The reason I am using this trendline is because in the first green and red circle, the trendline was confirmed. 1st green - trendline created 1st red - trendline retested and lower high is...
Not sure which way it's going yet, so I won't be guessing. Buy and Sell orders placed in case price goes in either direction.
After GU made a series of higher highs and higher lows, I saw it dropping and decided to short for 90 pips.
I believe a triple bottom is forming on this pair, with each bottom being a higher low, indicating the end of bearish pressure and momentum. (Note: the higher lows are indicative of an emerging bullish pressure due to sellers being unable to push price down below the last low) Triple top and bottoms are known as reversal formations, when the market is getting...