NY Trade on $USDJPY #trading #forex #priceactionNY Trade on $USDJPY #trading #forex #priceaction
Pure price action, looking to SELL $USDJPY on the break of that support and resistance zone.
Clear and Simple.
Cheers,
G.
Elliotwavestrategy
Bitcoin (BTC) Near Ultimate TopHi Traders,
Please see one of our latest ideas on Bitcoin.
See below for further details.
RL from RT_Trading
USD/CHF Short SellFX:USDCHF
www.tradingview.com
s3.tradingview.com
Thoughts and Reasoning Behind Price Movement Are Listed Below
Technical analysis of the USDCHF pair
Larger Trend analysis on the larger timeframes suggests
there will be a continuation of the prevailing downtrend
The pair is lining up well with Elliot confirmation principles
Trader sentiment on all timeframes above 30 mins suggests a strong sell
providing further confirmation.
Feel free to comment and like
Follow my account for more analysis like this
ETHEREUM TRIANGLE TRADE SETUPETHUSD seems to be making a five-wave impulse decline. Price is currently in wave (iv) which is unfolding as a triangle.
A triangle always precede the last move of a sequence in an impulse pattern. If this count is correct we should see a short-term decline to around $190 to complete the impulse pattern.
What's your thought about Ethereum?
GBPUSD Corrective Wave ContinueAfter the decline in wave ((a)) in red, the price has been unfolding in a corrective manner which is yet to be completed from Elliot Wave's perspective.
Wave (a) in blue is sharp, while wave (b) unfolded as a double zigzag and formed a double bottom pattern. This scenario is best fit in for expanded flat 3-3-5 pattern, which according to the EW guideline, a sharp five-wave rally in wave (c) is needed to complete the whole corrective structure.
Trading Opportunity:
I will wait for the break of the blue line or daily bullish price action signal to take advantage of wave (c) of ((b)).
What's your view on GU, bullish or bearish?
USDJPY: Short Trade SetupI'm looking at a textbook expanding or running flat structure. However this scenario needs additional confirmation as it is not yet clear. I have a modest target at 108.176. Trade with caution.
EURNZD Short I think it's correcting for the 5th wave down. Can grab more than 200 pips if we make the right entry.
Euro Dollar UpdateEuro dollar is currently in the midst of a corrective wave to the downside. There was an impulse sell as you can see in the end of the chart, which concludes that we are in a correction.
Elliot wave large flat correction appears completeA large flat correction wave appears to be complete and the beginnings of the next bullish impulse wave is underway. The correction wave in this Elliot wave set up would be the 2 wave. The strategy is to wait for the correction to retrace at least 38% but preferably 61.8% of the previous impulsive wave. Buying by laddering into the position is the most aggressive strategy. Buying partial orders at 50% retracement 61.8% and then again at 78% provides is a good way to get into the trade before it breaks out. The more conservative entry is to wait for confirmation.
To confirm entry, I try to stack as many confirmations as possible.
1 Look for a break of Head and shoulders trendlines(as noted in the chart)
2 Look for RSI to have higher highs and higher lows
3 look for volume increasing in not just one bar but ideally three bars(no volume probably indicates false breakout)
4 look for long green bar to break and close above the 55 EMA
5 place stop at the apparent bottom to allow for bull bear struggles.
These strategies are not perfect, but will keep you out of many false starts and provide very good risk to reward ratios.
