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Breakandretest

GBPJPY BUYAfter price made a n extreme high during the asian session 2 days ago, price action has been bullish and has broken above that new high. On the 15 minute chart here we can see that Price is now retesting that major high with confluence with the golden fibonacci zone( the 50% and 61.8%). I will be waiting for price to come into the zone and give me some entry confirmations such as a doji or bullish engulfing. If that happens, I will set stops below the zone at the -78.6 extension. I'll be running 2 positions. One for TP1( - 27.00 extension) and the other for TP2( -61.8 extesion,). Stops will be set to BE after price reaches TP1. Lets see if the setup fully occurs or if price just blows past the new found support. RISK MANAGMENT
Long
by jacolbywilliams11
EURJPY- BREAK AND RETEST POSSIBLE LONG OPPORTUNITYDon't forget to hit like and leave comment down below! 👍 Hello traders! Here are my thoughts on EUR/JPY. As we can see on the weekly chart below, price is in nice and healthy uptrend, creating HH's and HL's while also staying above 50 MA. On the daily, we can see a nice break of structure. After that, a retracement from resistance occurred. This is a great trade for break and re-test traders like myself. Please, wait till price closes above resistance and wait for confirmation of re-test level! 📈📉Trends: ⏳ Weekly- Bullish ⌛️ Daily- Bullish 🟣 Purple zone - Weekly key level 🔵 Blue zone - Daily key level Trade will be taken only if all conditions were met. Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨‍👩‍👧‍👦 Have a wonderful and profitable day! ❤️ - ProfitalzTrading
by profitalztrading
24
CADCHF// UpdateIn my previous analysis, I suggested that the selling opportunity at the trendline and area of resistance may have been to good to be true and we'd have a possible break out. Currently, the market has broken out of the trend and is about to retest the area, which is also the midline of the overextended W that formed. I will be looking for longs on this retest with a target at the next area of resistance a little above my -0.618 zone. An example of what Im looking for is drawn in the bottom right. Previous analysis linked below.
Long
by N0ST0PL0SS
2
EURUSD Bullish ForecastThis pair was analyzed with multi timeframe analysis and zooming out on EU, it looks quite bullish and I am forecasting further upside. Yes, I understand that we are at (and potentially rejected off) a critical resistance level but we are also in a corrective structure projecting a bigger move to the upside. While looking at DXY, we have the exact opposite, where we have a Bearish Structure currently consolidating for further downside. Some confluences to support this idea: Inverted Head & Shoulders pattern formed Counter-trend of Daily Bearish Structure with Break & Retest Daily Bullish Wick that should normally be filled Previous COT data shows an increase in longs. New data will need to be reviewed when released. Potential formation of weekly ICI pattern Potential formation of new Daily Bullish Structure The first step in order to validate this idea, will require a clean break above the resistance zone around 1.22. Let me know your thoughts. Trade Safe! HEET ps. I generally post alot of updates as the idea/trade evolves. If you want to stay updated, please click the "Follow this idea" button.
Long
by AfterlifeTrading
2
Can GBP Bears take out the neckline?This setup is only relevant if we can get that daily close below this neckline. As i have already stated to TeePee Students; I want to hit a stop on this, and i will not trade it on a live account. all the reasons for this were shared in our live session earlier today. Targets (1.758 & 1.743) are fib ext targets (1& 1.618). i don't think the previous relevance of these levels is a coincidence. As above, no daily neckline break, then the setup is not in play.
Short
by TeePeeFX
NZDJPY ANALYSIS- +280 pips in the gameHello traders! Here are my thoughts on NZD/JPY. As you can see on the weekly chart, price has been strongly bullish since the 2nd of November 2020. Since that price has been creating highs with almost zero drawdowns. On the daily, we can clearly see that price broke above resistance zone, re-tested that level and is about to go up again. Here on the 4h I want to show you a huge rejection of sellers confirming this trade for me. 🎯Confluence: 1) Strong uptrend 2) Price is above 50MA 3) Break and retest 4) Macd confirmation 📈📉Trends: ⏳ Weekly- Bullish ⌛️ Daily- Bullish 🟣 Purple zone - Weekly key level 🔵 Blue zone - Daily key level Trade will be taken only if conditions were met. Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨‍👩‍👧‍👦 Have a wonderful and profitable day! ❤️ - ProfitalzTrading
Long
by profitalztrading
11
AUDCHF ANALYSIS- Wait for a retestHello traders! Here are my thoughts on AUD/CHF. As we can see on the monthly TF price has been pushing to the upside since April 2020. On the weekly there is a clear break of the weekly level around 0.69200 area. On the daily we can see it more precisely. I will monitor the price and enter the trade after the re-test of the weekly structure on the 4-h timeframe. 📈📉Trends: ⏳ Weekly- bullish ⌛️ Daily- bullish 🎯Confluence: 🟣 Purple zone - Weekly key level 🔵 Blue zone - Daily key level Trade will be taken only if conditions were met. Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨‍👩‍👧‍👦 Have a wonderful and profitable day! ❤️ - ProfitalzTrading
Long
by profitalztrading
16
GBP/JPY - Simple Daily StructureWhy have we been looking for long positions on GJ for the past few weeks and months you ask? Well, on the daily chart we can clearly see we have resided in an Ascending channel for some time now. However, we have now rallied up to the top of our ascending channel with a third touch. You can see some key levels marked in on the right hand side. These are key levels on the lower time frames that we have been using to take long setups on the pair. Where will price head next? We are right at the top of the range for this pair. See our related idea for some long positions on this pair!
by Jal121
Possible Buy set up?First post, felt like sharing my idea! Im not a financial advisor, I snort chalk. I'm using fibbs, 200 ema, ichinoku cloud, MACD, and BB Above 200 EMA so I'm only looking to buy. Cross over 200 EMA and Retested with a strong bull engulfing candle MACD Crossovers 1H Broke .618 support zone and retesting. TP 1 : 1.21350 TP 2 : 1.21500 SL : 1.21050 Stop loss just a little bit below IC lines Previous soft resistance around 1.21350 zone so that would be the first TP, and if it goes past that the 2nd TP would be 1.21500 as it has another resistance in that zone. Let me know what you guys think! Happy trading, and Good luck!
by MakMak1904
2