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Channelbreak

USDJPY CHANNEL BREAKOUT. TENTATIVE LONG POSITION As I mentioned yesterday, I am keeping a close eye on growing signs of YEN weakness. As stated in that published idea , a break below the current uptrending channel is just one sign of possible trend change. Since this has been a strongly trending market, a trend change will likely look more like a range, the duration of which is still to be determined. I placed LONG orders on the AUDJPY as well as the USDJPY yesterday and currently +65 pips on each. As for the USDJPY, the trend is still down and this NOT a contrarian trade, meaning that most retail traders are LONG on net, which is often indicative of trend continuation rather than reversal. My LONG trade, therefore, has a rathrr conservative target set @ 1.635. Moving into next week, if the YEN continues to decline against the Dollar than I will adjust my target to a 2:1 ratio and possibly add in one or two more lots.
Long
by jrashaadtrades
BTC Bulls Breaking Out of the Downtrend ChannelBTC has successfully broken out of the downtrend channel by breaching (and closing above) the major downtrend line. When these breakouts happen, usually the price retests the newly broken resistance to try it as a support. - Either it doesn't hold, then it turns into a fakeout and price goes back to revisit the lows, or... The new support holds, then it creates a nice structure to build upon when going for the new highs (in our situation it looks like we've got this scenario, which is a very good sign) First target: 11790 (previous local top) 11790 is also a starting point for a stronger resistance zone (11790-12376), and it's likely that a retrace might happen from somewhere within that resistance zone. Once (and if) that resistance zone gets cleared, and BTC manages to go through it, we can look up to higher targets.
Long
by eyupium
4
#VIBE fractal concept, 100% short-term earnings potential#VIBE is looking ultra bullish and will definitely achieve some targets. Stoch is below oversold. In addition, we found a fractal concept. The blue boxes indicate a decline followed by a fast uptrend and then some consolidation. After the consolidation we make another leg up and find ourself in a wedge/channel. Once #VIBE broke out of that wedge it went straight to the moon, lets see if it happens again.
VLong
by o0100011010
2
USD/TRY SetupFOREXCOM:USDTRY Over the last 109 days USD/TRY has been forming a rather large triangle. However, over the past 66 days the pair has been trailing down an expanding falling wedge until it bounced off of a strong support zone. It has now completed a classic break-check-go pattern and over the past 3 days has completed a swing low setup (low, lower-low and a lower-high). The fundamentals now pair with the technical setup due to the current problems between the Turkish Army and the Kurdish Liberation Movement. We could be looking a sharp turn in the market due to increasing tensions between the US and Turkey. No trade idea is 100%. What we are constantly searching for are solid reasons to take a trade. Remember, as always plan your trade and trade your plan.
Long
by dipdizzywizzle