UsdJpy shortLooking to short UJ if the 4H closes like this. Price rejected hard from a key level, meaning the previous support is now resistance.
Breakandretest
GBPUSD - Price broke out of ranging triangleAs the title suggests, GU broke out off the triangle pattern that was formed. This should give it the chance to continue the bullish pressure that was present previously. This trade has a RR of 1:4 with a 8 pip s/l and a 32 pip t/p
TRADE AT YOUR OWN RISK
Let me know any concerns or ideas
EUR/USD break and retestEUR/USD is in a very bullish uptrend. A key level was broken, price came back to retest. After conformation on the 4H, we place a buy position.
UsdCad sellUsdCad possible sell setup after price broke a major support level. Waiting for a retest of the level and rejection towards the downside, indicating that the previous support is now resistance. Ill be looking for the retest in the 4H or 1H (depending how price action plays out).
US Dollar still bearish (USDJPY trade active)#USDJPY (Possible trade idea):
(1D):
The higher timeframe has been bearish for quite some time during 2020, and this trend hasn't changed. Still bearish bias confirmed by the 200 EMA and structure. Also fundamentally, US money printing won't stop any time soon. Technically, A wide range retest occurred, pushing the pair to the downside.
(4H):
Looking closer, the said retest on the daily timeframe resulted in a bearish continuation triangle, also broken to the downside.
(1H):
Recently, the price has been ranging in a smaller range and going through London session, it seems we have an interesting opportunity on its break and retest. Target would be at next support at 101.500
US30 SIGNAL (SELL after rejection on monthly trendline)TOPDOWN ANALYSIS: Shows Monthly uptrend INTO a BEARISH FLAG PATTERN
ACTION PLAN: 1.) Wait for price to show a break above previous high, then consolidate between monthly bearish flag trend line and show at least one 4h long wick rejection = enter a sell
2.)As soon as market hits a 1:1 risk reward = move stop-loss to breakeven as we might see a consolidation and then a huge move lower (capital preservation is key)
MAGIC IF: 1.)If market does not show rejection for a short position, look for a bearish engulfing candle on a higher time frame (30min, 1h, 4h) and then enter
2.)If market does not consolidate (in anticipation for the next big move) and then push lower, expect a large bullish movement upwards and then a strong exhaustion and retracement
Reasons/ Confluences:
.Clear strong uptrend exhaustion = bearish flag on the Monthly timeframe
.Price has shown strong bullish move therefore the next must be a retracement or consolidation (because the market always moves in HH, LL and LL LH)
.Price is hitting strong Monthly and 4h resistance area
TIPS:
.Stocks are known for whiplash and false breakouts - therefore only take a trade when clear signs indicate an opportunity (in this case a break and retest and possible long wick rejection)
.us30 is known for its volatility, therefore take caution with this pair = do not overleverage/ risk what you cant afford to loose
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Will the channel bottom hold out?Nice and simple setup, but this means nothing until the channel bottom is taken out. Longterm my bias on this is still long, across the majority of EUR pairs. We are still long on EJ & this pair since May.
We could easily see another push to the channel top which would definitely give the targets a move with it. The targets are in no way concrete, especially if we do not see a break early this coming week.
Can USDCAD break the upper structure?here we have a nice descending and condensing structure. a quick look at the MACD shows us that this sell off looks to be tiring.
We have already seen a break of the larger structure, now we need to see that the smaller patterns bottom holds, and find a break of the upper structure to look for long opportunities. Smaller targets are potential for now and can easily move should this smaller correction continue to form. If we see a new low form, then the larger targets will move down a little in ratio to the new low. Fibs will show us this and i will reapply them should I need to.
CADJPY, we got a retest.Monitor this area closely on a lower time frame for a bearish entry once price continues to respect this support and resistance zone.
TRIANGLE PATTERN EURUSD 4HR BUYHELLO TRADERS HERE IS HOW THIS SETUP BREAKS DOWN ENJOY. 1 PRICE HAS FORMED A TRIANGLE PATTERN WITHIN THIS UPTREND. 2 WE WILL WAIT FOR THE BREAK/RETEST OF THE HIGHLIGHTED STRUCTURE ZONE WHICH IS AT THE .382 FIBB PULLBACK LEVEL. THAT GIVES US FOUR CONFIRMATIONS FOR THIS BUY SETUP (1TRIANGLE PTTRN 2 BREAK/RTST 3 AT A STRUCTURE LVL 4 AT A .382 FIBB PULLBACK LEVEL) TAKE PROFIT WILL BE THE EQUAL MEASURED MOVE OF THR TIANGLE FROM THE BREAKOUT. Hope you can learn from this setup many more to come God willing. Thumbs up and Follow let me know your thoughts on da setup. Bless up Traders :)
LONG RETEST SETUP OFF OF CUP AND HANDLE PATTERNPRICE IS SHOWING MULTIPLE CONFIRMATIONS FOR A BULLISH PUSH UP. PRICE HAS HIT A THIRD TOUCH ON UPWARDS TRENDLINE. PRICE HAS RETESTED THE HANDLE OF A CUP AND HANDLE BULLISH PATTERN.PRICE HAS HIT ON THE .618 PULLBACK LEVEL.THESE ARE MULTIPLE CONFIRMATIONS FOR A BULLISH MOMENTUM. ENJOY THE SETUP AND LET ME KNOW YOUR COMMENTS AND FEEDBACK AS WELL AS IF YOU TOOK THIS SETUP WITH ME. BLESSINGS ALWAYS
Naked Analysis - Chart Patterns & Price Action ---> THIS IS A NAKED CHART ANALYSIS <---
ONLY CHART PATTERNS AND PRICE ACTION ANALYSIS - NO INDICATORS
Here as you can see after the breakout of the rounded bottom - continuation pattern, the market went to retest the resistance zone, which now is support.
At the support area, bullish momentum pushes the market up in smaller timeframes and the market is now going to continue the upward trend.
* If you don't know about the Rounded Bottom pattern, you can go to my profile and find the post about this pattern, to completely understand this analysis.
HAVE WEEK & HAPPY PROFITS ! ! !
CADJPY SHORTLooking to go short on CADJPY if we retest that support that got broken and some rejections given will go short to next lows trade wisely
ConfirmationIstanbul indicator gives 66 is a base for VETBTC and holds it. Then break the downtrend from this level. Price is pullback to ~70 as a confirmation. Waiting for long bullish trend.
NZDUSD LONGAfter an impulse to the upside, NZDUSD has retraced & retested the broken resistance level/previous highs, which aligns perfectly with the 50.00% fib retracement level.
Price has rejected this support level and is currently displaying a lower timeframe bullish market structure.
Currently awaiting market open and a small retracement before entering.
First target - High at 0.71700
Second target - 0.72000
GBPJPY LONGGJ has broke and retested resistance at 139.430 region, which aligns perfectly with the 50.00% fib retracement level.
Price has been showing strong rejections at this support level so I am anticipating a continuation to the upside.
Currently awaiting market open & a small retracement before entering, for a better Risk-Reward.
Targeting - High at 140.400
EURJPY LONGAfter an impulsive move to the upside, EJ has retraced and retested the previous high, which aligns perfectly with 61.8% fib retracement level. Lower timeframes show a bullish market structure (Broke and retested a resistance level). Now anticipating a continuation of the bullish trend.
First target - High at 127.000
Second target - Higher timeframe resistance level - 127.500
NAKED ANALYSIS: Break and re-test at the critical area--> THIS IS A NAKED INTRADAY ANALYSIS - NO TECHNICAL INDICATORS ONLY PRICE ACTION AND CHART PATTERNS <--
Here as you can see the market breaks the critical area with strong momentum and it goes to re-test for the continuation, in order to continue the bullish move.
---> Risk to Reward is quite good with over 1:3
---> We follow the bullish momentum from bigger timeframes.
HAVE FUN AND HAPPY PROFITS ! ! !
GBPUSD: Break and re-test the critical areaHere as you can see the market break the critical area after a long time with a strong/sharp bullish move.
Now it goes to re-test the area to continue the bullish momentum.
HAVE FUN AND HAPPY PROFITS ! ! !
