Breakandretest
EURJPY, look for sells.Price has broken out of a Daily range. Price could decide to retest the zone which it just broke through. If not, drop to a lower time frame and look for other possible bearish setups. The green support and resistance zone could be an area to look for buys once price respects this zone. Happy trading!
GBPJPY lining up nicely a decent RRR shortThis setup is looking very nice moving into next week. The week view rejected our upper T/L, we also have a potential triangle forming (upper level is marked, lower level sits nicely on our first target) If this triangle does form and come into play then its relatively unlikely we will see the second target on the first push to the downside.
We have clean divergence across the Histo throughout the lifespan of our channel, giving a clear indication of price manipulation. i will not just short this pair based on strong bearish momentum. I am either looking for a pullback to the highlighted area, or I am looking for another push down, followed by a continuation in an LTF that may present our entry. Targets are FIB EXT targets based on the channel parameters.
Long on EU (Daily)Here I have a potential long for EU, depending on the closure of the daily candle. I would like to see movement to the upside and break through the structure of 1.18632 to reach the wick in the region of 1.19170. I would naturally expect price to retrace back to the structure and ideally use it as a support to then continue to the upside and reach the initial target of 1.20. I know this is a very ambitious trade but I still believe that the EURO is strong, and will overpower against the DOLLAR.
Obviously this is my own personal trade and I highly recommend that you carry out your own analysis before entering a trade.
We also have so high influence news from both Europe and USA, which will make the markets extremely volatile, so we will need to keep this in mind during the trade.
Use the correct risk management and happy trading.
GBPJPY, break and possible retest.This pair is currently in a downtrend. Once price continues to break and retest the only thing I would be looking for on GJ is sells. The only way I would start thinking about bullish trades is if price breaks above a previous swing low, retests it as resistance and respects the zone without breaking below it. GBP pairs will move very similar but they don't all do the exact same thing at the same time. Therefore, the better option (in my opinion) would be to focus on the very best (highest probability) setups that you understand and that fall in line with your trading strategy. Happy trading!