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Fibsdontlie

EURJPY - Buy (15 min)Oct 9th @2:15 am est I set up my fibs and saw price testing the 23% on the 15 min time frame, added my ichimoku cloud and saw that price was also testing the green cloud on this same time frame giving me confidence that it was going to buy off of that price which it did. We entered in at 124.682 and 20 min later reached its highest point within 20 min at 124.800 giving us a gain of 12 pips. We are holding long term but that would of been a perfect scalp trade.
Long
by Socratesinc
1
Loonie Shorts Im looking to short Loonie around 1.32514 with a stop @ 1.33465 and final target of +430 pips @ 1.28215 1. Now if we dive deeper into why I'm leaning towards bearish first lets dive into our fundamentals, like most will know last week the US cut 25 basis points from the dollar for the first time in a decade, fundamentally that weakens the dollar but right off the bat the dollar soared and the reasoning behind that was during the statement Jerome Powell started to speak in some hawkish terms which then confused investors and made uncertainty in the market, but then he next day Trump went after China putting the 10% tariffs on chinas goods which in return starts to worry investors about the dollar so they start moving their money to safe havens like Gold or JPY which is a result of gold going higher and UJ, EJ , GJ all falling. 2. Lets look into Canadas fundamentals, we already know that the DXY is starting to lose some strength and with the trade war tensions going on it will continue to lose strength, this week on Friday August 9th we have Employment change for CAD which is looking to be positive if I had to guess somewhere around the +20.5k or so and we have the Unemployment rate which is also looking to be positive possible around 5.6-5.7% so now that we have our fundamental bias for USDCAD we believe the dollar is getting weaker from trade war tensions and we believe the CAD will get stronger from Employment Change & Unemployment rate this week. 3. So now we dive into the technicals behind our fundamental bias for shorting Loonie on the Daily Tf we have our fibs with the 61.80% at 1.32750 & we are reaching our 25.00% fib channel at 1.32515 overall maintaining downtrend structure, with longterm downtrend since 2016 with a temporary uptrend returning to overall downtrend since December of 2018, we have a major support that through past price has continued to be met at 1.27500 and im looking to take my profit at a keylevel slightly above it at 1.28215 we also could use our -27.00% fib level for a TP1 at 1.29082 and our -61.80 for TP2 at 1.27648 which aligns perfectly around our support but my key level @ 1.28215 should take around 8-14 days to be met then from there I expect some sort of bounce before officially meeting the support of 1.27500. 4. Last thing is also around our 61.80% fib which is the general area of entry there is a lot of distribution building up look at this as a institution sees they are making there own entries by building distribution they push the market up to then build liquidity to push the market lower, therefore why im using around a 95 pip SL because sometimes when it looks to obvious the institutions can push the market up temporarily to fake out sellers stops and fake out buyers to come into the market before the real move, so I like to give my trade room to breathe so that the move can present itself. As always this is my bias take this as you will use it as confluence and have a Blue trading week!
Short
by suspect102
USDJPY Potential 20-30 Pips Before NY CLOSEHey Traders, so I banked a few pips early today from the initial push that got us into the 110 region with this pair. I am now thinking that we will have another push before market close to get us back toward that 110.150 region right before Asia Session. I have my weekly Support Level at 108.500. I have weekly Resistance Level at 110.150. My thoughts are that we will see a final push from 108.850 to about 110.150. This is a 3:1 RR ratio. Entry @ 109.850 Stop Loss @ 109.750 Take Profit @ 110.150 IF, my take profit is hit on this Buy position. Then I will have a sell limit set for 110.150 hoping to catch the decline in prices during Asia Session. As always, please leave comments, questions, reviews! Over & Out!
Long
by BearishBull617
AUDCAD Analysis Hey Traders, sorry have been away for a few days. Today, our analysis is on AUDCAD. This setup will take a few days, so be patient as I am posting this before the start of the trading week. AUDCAD has been in HEAVY CONSOLIDATION since the beginning of January 1st. 2018. I have marked off my Weekly Resistance Level at 0.95750. I have marked off my Weekly Support Level at 0.94500. Basically, I am waiting for price to reach either Resistance or Support levels, then wait for a STRONG confirmation candlestick or confluence to let me know that price is moving in that direction. I believe that if we are to finally break through either Resistance or Support levels then we can expect a very big move as this pair has been building up momentum for a big decline or rally up! As always, please leave comments, questions or concerns! Thanks again, #ForexFargo
by BearishBull617
USDJPY POTENTIAL BUY 60 PIPS Good Evening Traders... Marcel checking back in. Today our analysis is a continuation of last week's analysis on USDJPY with the overall trend being Bullish. Today my analysis is that we will retested to this 109.550 region through the Asia and London session and during the start of NY session the price will shoot looking to set a new previous daily high as the JPY Index did not have a good day and USD will be coming strong tomorrow out the gates because of the Federal Holiday. If you look at the previous post, it will show you how price has risen over the last week or so and has broken our past weekly support of 109.550. Price has also broken out of my diagonal trend line and at this point is just acting as resistance and good signs for entries. I have a TP set for 110.100 region which is 60 pips, this trade hopefully should fulfill by end of NY session. Stop Loss is tight at 109.450. This is a 6:1 RR set up. If stop loss is hit, will re-enter trade still based on analysis. As always, good trading!
Long
by BearishBull617
1