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Cloudlife

USDJPY 03/08/19- Daily Market closed with a strong bearish candle today. I didn't post yesterday because I didn't see much of a change from my previous assessment of the market. On this timeframe we can see how price played right off of the 786 Fib level and began pushing to the downside. Price may stay within the channel, but if it's a confirmed break, then we could look for price to test the 110.000 range. - 4H Here, we can see price form a tested candle formation on the bottom of the channel (bearish to bullish). Until I see a confirmed break the channel is still valid to me. The way price closed below the Kumo on this timeframe is a signal for more bearish sentiment. However, price did not break the previous low. We'll just have to see how next week sets up for us.
by jonjaytx
EURJPY 03/08/19- Daily Wednesday closed with a doji. Nothing much changed from my previous forecast for the pair. On Thursday, price came back within the channel in a major way and closed below 125.000. This could mean price may make its way towards 120.000 in the long run. - 4H Like I said before, price has comeback and hit the other side of the channel yesterday. Currently we can see a pullback forming. Depending on your definition of a break and retest, price may have done so where the orange dot is. Personally, I think a retest occurs after price finds a place of rest ( level of support/resistance, and must be a bullish to bearish, or bearish to bullish candle transition ) after breaking a level, then comeback to test it. - 1H On this timeframe you can see my previous definition play out right next to the orange dot. We may see one more pullback closer to Kijun, or a retest of the bottom channel and continuation to the downside.
by jonjaytx
EURUSD 03/08/19Wednesday didn't show much difference to report. Price consolidated and created a doji. On Thursday we saw a massive bearish candle created and closed on the other side of the zone. This could be a signal for more bearish momentum in the future. However, if we take a look at "recent" price movement on the Monthly timeframe, we can see something interesting. The market came and connected with the 618 fib level after creating a Higher High in 2018. This could mean a very long reversal. Only time will tell.
by jonjaytx
USDJPY 03/05/19- Daily UJ closed today with an inverse candlestick formation (shooting star). It is still showing resistance around 112.000. We may see a pull back tomorrow before a takeoff. Since we're seeing the increased strength in USD and JPY we could be seeing the result of this in these few days of indecision. - 4H Price is still within the range drawn from yesterday. UJ has formed a double top near the top of the channel. We could see a sell off encroaching. I would need to wait and see how tomorrow morning unfolds. - 1H UJ is showing signs of the change in trend: - Bearish TK cross, price inside the cloud, but below the Kijun. We may want to either leave this one alone, or see if we can catch the opening bid.
by jonjaytx
EURJPY 03/05/19- Daily Price closed with a small bearish candle. Everything is still above the cloud signaling bullish momentum. We could see a reversal soon. - 4H Price has come to rest near 78.6 This could be where we see price reverse back to the upside. It's no guarantee since we see price falling back inside the channel. - 1H We can see a strong rejection off of 78.6. This could be the start of the uptrend back to the top, or hit the channel (or Kijun) and head back to the bottom.
by jonjaytx
EURUSD 03/05/19- Daily EU finished with another bearish day. Everything is below the Kumo signaling more bearish momentum. We've come in contact with 1.13000. This price seem to be tested before dropping a little further into 1.12500 range. - 4H Price is showing more bearish tendencies on this timeframe too. We could be looking at a continuation to 1.1250. - 1H Currently looking at the consolidation around 1.13000. We are seeing multiple breaks and retests of the key level. It could be a setup for another entry to 1.1250. We'll just have to see.
by jonjaytx
USDJPY Update 03/04/19- Daily The daily candle closed with a small bearish doji. Not a lot of movement. Price is showing signs of possible bulls taking over again and hitting the top of the channel, or finding rest around 112.500. - 4H Price has been in a range of consolidation all day. We could see this continue into the morning, or at least London Opening. - 1H There are some wicks showing a strong resistance level around 112.000 (Minor Whole Quarter Level). If price rejects that area again, we could see a major drop.
by jonjaytx
EURUSD Update 03/04/19- Daily Price has shown a strong rejection off of the overall trend. As an added bonus, there was a break of the counter trend. - 4H Price has broken Kijun and entered the cloud; Chikou right along with it. There are signs that the bearish momentum is continuing: - Kumo Twist - Price and Chikou below Kijun We could see a possible buy setup closer to 1.13000. - 1H This timeframe shows multiple selling opportunities when price came close to Kijun and bounced hard. We see a level of support formed around 1.13200 and price could continue up a little higher before dropping again.
by jonjaytx
EURJPY Update 03/04/19- Daily The daily candle closed bearish today rejecting the zone drawn around 127.500. JPY pairs across the board are appearing to have some bearish momentum. Some of my partners that look at other pairs saw similar findings on other JPY pairs. This looks like a solid railroad formation (tweezer top). We could see more from this pullback. - 4H We see a nice "M" formation in the rejection zone that signaled the move to the downside. Since overall trend of the short-term market is bullish, I would be looking for signs of reversal around the highlighted areas. These are also my TP points, and we can see TP1 (38.2) and TP2 (61.8) have been hit. There is current rejection off of the 61.8, but not one significant enough to engulf the previous bearish candle. I still think we could see a little more bearish momentum. -1H This timeframe confirms my findings on the higher. There are multiple signs of continued bearish momentum: - Dark Future - Price and Chikou below Kijun - Breakout to the downside of the Kumo Although these signals are not as strong as they would be on a higher timeframe, they still give slight foreshadowing of what can occur going into the next day; or at least the next few hours.
by jonjaytx
Outlook for EURUSD- Weekly EURUSD has been on a significant downtrend over the last year and continues. Price is below the cloud, so we could expect more bearish momentum. - Daily Price has bounced off of the bearish trend line and broken a bullish counter trend (4H). We can see that the area around 1.1250 is an area that has been tested multiple times. It could be a nice TP Zone for the sell. - 4H/1H Price has closed below Kijun multiple times, and shows more wicking off of the major trend line. Price has also broken and retested 1.13750. We could see price fall back and consolidate again around 1.13000 and 1.12500.
by jonjaytx
Outlook on EURJPY-Weekly EJ has been on a downtrend over the passed year. Lower Lows and Lower Highs. Price is below the Kumo which means we may be experiencing more down trending movement. The previous week ended with a strong bullish candle finding resistance at 127.500. With such a strong push we may see a push back to 130.000. - Daily Price has climbed back to the other side of the channel drawn. We are seeing bullish activity due to price being above Kumo and Kijun. However, Chikou is below the Kumo, and price is in at a key level of S/R. Depending on how today's candle closes, we may see a rejection back to 125.000, or a continuation to 130.000. - 4H/1H We see a strong rejection off of 127.500. Price could be heading back towards the downside. It's currently setting up for a nice sell, and we could see it come back to 126.250.
by jonjaytx
Possible Outlook for USDJPYWhat's good everyone? I'm trying something a little different these next few weeks. I'm only going to focus on UJ, EJ, and EU as my trading pairs to gain a solid understanding of these 3. So let's start with eveyone's bae, UJ! - Weekly Over the last couple of years price has been in forming a Bullish pennant pattern. Creating higher lows and finding resistance around 113.750 and 115.00. Price is currently sitting above Kumo, so we could expect more bullish movement. - Daily Price has broken a major trend line and has bounced off of the overall trend that was created on the weekly. Price has also broken 110.00 and it appears to be on its way to 112.500. - 4H/1H We could be looking for buy opportunities based off of the channel drawn. Price is currently sitting far away from the Kumo and Kijun. We could expect a pullback to Kijun, or 111.250, and a continuation of the uptrend. Depending on how price reacts at the top of channel we could see a possible selling opportunity.
by jonjaytx
Possible Drop in USOIL 4HEntry - 55.82 SL - 56.39 TP1 - 55.12 TP2 - 54.44 What's good everyone?! Apologies for not posting any of my trades from last week. Needed to get my mind right. Anyway, I decided to take a look at that liquid gold (not the cheesy stuff lol). Upon Daily analysis of the current channel price is playing within, we see that it has come to the top, or possibly met resistance. This also looks like it could be your typical break and retest of the support and resistance level (white horizontal line). Zooming in to 4H we notice the strong bearish candle pushing down to the trend line (yellow) and possibly even breaking it, depending on how you draw it. On the 1H time frame we see more signs of the bearish move. - Break of kijun and the trend line. - Break of the bearish fractal. - Double (possibly triple) top formation. The future is still bright, but I do believe the pair may come back to test the cloud, or S/R level again, before continuing in it's upward trend. I placed a small amount of capital on this trade, and will scale in if the opportunity presents itself. Let's see what happens!
TVC:USOILShort
by jonjaytx