My initial short trade ended. I closed at the break of the high doubled the position and put a TP at 112.00 which should cover my losses on the last trade as well as create additional funds on this as win trade.
I don't believe we are going to rally out of this resistance this late in the date. I expect Market Makers are looking for orders to disperse to drive price back down through support. We need more momentum to break it. I've doubled down on my trade 2x and these are my projected targets. A small push back to 110.50 is also acceptable should they decide to take...
Stop above the high. Fade the cover. Retest the daily low 110.25
I've identified a trade I've planned to take. Sell 110.75 with a target 50 ticks lower at 110.25. Stop above the high of 110.80. Failing to get the push up I've also a stop order below the low to get into the trade should price collapse swiftly without hitting my limits above.
Based on price action I took a long here. If it fails it's a minimal stop limit but good upside potential on the weekly retracement.
Fade the weekly rally and retest of weekly resistance
While I didn't quite get the move i had expected from my last idea post, another opportunity has presented itself on USDCAD to fade the prior over extension. Obvious targets are 50, 62 and 79%. Best of luck.
This is a predicted USDJPY correction to the short side
I'd recommend covering shorts for this long correction back to the upside on EURUSD. I don't trade longs but am posting it for those whom do.
After a brilliant breakout to the upside we have a short opportunity for USD back to the 50% or 62% fibo retracement area. With upcoming news from Trump you may want to wait to enter until the unpredictability has passed. (60-90 pips targets)
After a grueling night of chop we finally got a breakout and an extension trade to the down side on USDJPY. I fibo'ed the extension and sold the 618 pull back. Target is a 618 extension below 0. Good luck!
I'm expecting a sell off from the H4 200 MA back to lower 113.00 handle.
This is a continuation trade that I've enter based on the previous drive down and pullback. Target is 1.0558 or a little more or less. I don't expect it to move very fast with the US holiday.
Shorting USDJPY based on technical price failures. Target below
Looks like a nice setup to retest Daily Open Price.
I've been waiting for this setup for a few days as a re-test of the break down in price we had last week. My position is short for now with no RR in site until we make new lows.