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Downtrend

GBPJPY: Asscending Broadening WedgeWe will be looking for a 3rd, possibly 4th tap of the resistance. Appying the 1% rule to this trade, i will split my overall into 2 trades. ... 1st trade will be the 3rd tap with a 35-40pip S/L.> as GBPJPY you will want a bigger S/L as it moves faster and most spreads reach for S/L's.... 2nd trade will be the possible 4th tap of the resistance, to hopefully get adn even better entry, Presuming the price will break out of the wedge to the downside. Another thing to consider is GBPJPY's impulses. Ive been noticing 90-110 pip impulses. the most recent impulse was 260 pips. Although the impulses have been this big, this next impulse to the downside will be the length of the LOWEST point near entry of the ascending broadening wedge, and will go as far as the HIGHEST point within the wedge. I will set my T/P the distance FROM the breakout of the wedge equal to whatever length the wedge ends up being. I expect the wedge to ascend around 100pips from the ENTRY point LOW. . Therefore, i will hope to pick up 100Pips before closing out all of my positions. Of course closing half of each position at 50pips wihtin that move. This is NOT financial advice! This is my OWN Speculation of GBPJPY at this given moment. Hope you enjoy!~
Short
by lodose81
EUR/USD - outlining the near term supports and resistancesHighlights: 1. EUR/USD remains in a downtrend 2. The chart is dominated by the 2022 downtrend at 1.0035 - while capped here the bear trend remains intact 3. The recent low at .9536 is exposed and below here we have to refer all the way back to 2001 to find the next support at .9332. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
Short
by The_STA
TRADE OF THE WEEK | Classic Price Action Trade💰 Hey traders, This week, we caught a great short trade with my students on US30 index. We spotted a nice horizontal key level where the market formed a double top formation. Our trigger was a breakout of its neckline, the position was opened on a retest. Then the market dropped sharply giving us a very nice winner. Did you catch this move? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
UShort
by VasilyTrader
7
EURUSD - Fundamentals to shape next move!Sometimes its best to just stay away when we have news events, data releases or any other big fundamentals that can cause havoc in the market. I like to find a position and be in profit before any other influential impacts hit the market, if you siting in a trade near entry and something dramatically changes you can be left in huge drawdown or in a big loss, even slippage! Trying to open trades off the back of a data release is almost impossible to get any sort of consistency.. I still haven't got my short entry on EURUSD and I'm not just going to open a position for the sack of it, I trade off a strict plan and also encourage you guys to do the same! the market is risky and can eat your account up with a few mistakes, stay safe guys and good luck! ill be back on Sunday and hopefully have my voice back lol.
Short
by jamison_fx
3