good long opportunity for USDJPYgood long coming up for USDJPY. With continued dollar strength we may see another bounce of the trend line to continue its push up to the 4hr resistance level. shown is a nice trade setup with 2:1 risk reward ratio.
Foreignexchange
bearish GBPUSD falls to bottom of channelGBPUSD is currently on a weak trendline and could go either way, but i believe with the dollar's recent strength to close out the week the pound is going to continue to drop. Look for a bullish engulfing candle to confirm short and then sell this pair, FOR SUREEEEEE
USDJPY_Institutional Perspective_Monthly/Daily_Fibs,EMAS,Levels!TRADERS! USDJPY is UPTRENDING!
Black fibonacci is STRONG (monthly impulse trend.) Blue fibonacci holds heavy weight also (weekly corrective trend.) Thick red EMA is 50 period. This blue EMA is 14 period.
Notice the buy signal on the monthly that still has room to run. Then notice the black fib on the weekly and how well its been respected. I bet yen keeps charging higher, but not before clearing out long side traders on lower timeframes. Daily chart shows room for healthy pullbacks to 110-109.000 levels. To be completely honest it would not be unusual to see this market retrace all the way to 107.900! In the event of freak market moving events I'd suggest you be ready to pull the trigger at these levels.
Don't be fooled however, we may not get lucky enough to get counter trend retracements. This trend is strong and you are SILLY to be swing short this currency. In order for yen to charge higher, EURUSD is gonna need to continue down, at least stay sideways at these levels.
The Japanese Yen has been a longtime favorite of mine and is responsible for personally building my trading accounts alongside the E-Mini S&P 500. Also note fibonacci sequences and candlestick pattern development originated in Japan. This trading style built the wealthiest family of Japanese royalty from rice trading. This family held Japanese dynasty for over 300 years. To me, this market responds better to these levels than any other market in existence. READ THIS! en.wikipedia.org
If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Your data may be different. Material is educational only. Trade at your own risk!
CHF/USD UPDATE (JUST HOLD ON GUYS)So you've essentially been holding this trade for about just over a month.
Don't leave a winning trade to jump into something that appears lucrative.
Which in actuality might not be a successful trade.
We're trying to bank over 600 pips on this guys, we should be near the 1.0200 Region in the next 2 weeks or so.
Don't lose faith, and just remember, you're holding a winning trade, patience is key.
I've added 3 entries on this trade, so I'm seeing this through to end!
I'll update you more on this guys!
Take Care & Be Safe.
AUD/USD SHORT.After our prior TP's towards the upside wasn't fulfilled we see a sudden change in trend I'm currently riding the downward trend towards the 0.76500/0.75000 Region .
I am however anticipating a change in trend around the 0.75000 Region.
We could see a potential long position in the near future guys, stay tuned!
TP: 0.76500/0.75000
UPDATE ON USD/CAD!So prices are still approaching the 1.32000 Region as expected
HOWEVER.
I am also expecting a change in trend near this region, towards the downside target of 1.27000/1.24000 .
Having said this, prices could violate our resistance region at 1.32000 and penetrate through to achieve highs of 1.34000 however I don't believe that this is probable. I see it more as a potentiality rather than a probability.
Let's wait and see, I'll hopefully update you guys with a nice juicy short by next week on this trade.
EURUSD breaking out of bull flagFOREXCOM:EURUSD is breaking out of a bull flag that has been in formation since early August (daily chart on right). This bull flag is part of a larger uptrend that began exactly one year ago, in December 2016. This uptrend was solidified with the breakout from the rectangle base and flag consolidation taking place outside of the base (shown on weekly chart to the left). As a bonus, the flag consolidation took place directly above the 200 and 20 week MAs (weekly chart).
Profit target = 1.35
Stop Loss = 200 day MA, currently at 1.1544
GBPUSD Inverse H&S PatternInverse H&S pattern in play on daily time frame.
Looking at monthly time frame GBPUSD has done too much in to short a time i.e. seems oversold so this is likely to be the rebound
Although not shown on chart 38.2 fib level lies at approx 1.31
Entry is placed at the 1.264 which will likely occur on the next pullback following the break of the neckline
Stop loss placed below the recent low @1.2297. If price reached this point it would cancel the inverse H&S pattern.
Take profit has been set to match a risk reward ratio of 2.5 and is just below a crucial resistance level. (depending on the time it takes to reach his level it could also coincide with major TL resistance)
With conservative victory probable in the upcoming UK general election it will provide confidence to investor and businesses
Although Brexit is still a major event affecting this currency pair it is unlikely we will see any major developments over the next 4-6 months in my opinion
Also the outcomes of French and German election will impact GBP as it will weigh on the Brexit negotiations
USD weakness is expected - the nu of rate rises this year has been thrown into the air once again in addition to Trump's foreign policy not filling people with confidence for now
The law of bitcoin.781.976 was the new high of btc last 2 month, we are on bullish trend is a evidence.
The rally of btc is not to be stoping yet, we are right now on accumulation phase, if Btc break the resistance at 781.976 we can go to 800+ dollars easy.
RSI is very strong and something like 1 per day on overbought area, its insane.
240TF, this btc rally is not done => Christmas is the most favorable time for a btc up because China use a much of bitcoin for shopping or business.
( Dont forget China control over 70% of monetary mass of Bitcoin ).
Target: above 820$ first.
Good trading !
GBPNZD potential pullback Here we have the monthly chart for GBPNZD showing cloned support and resistance ranges (blue rectangles) and mid range support and resistance (black horizontal lines). This pair could now pullback to the 1.8750 area which is the 38.2% fibonacci retracement level. If this occurs, then this pair could continue its move further lower, more precisely 1.3540 area confluent with -61.8% fibonacci extension completing a monthly AB=CD move.
AUD/USD GeometricsWhat I have included on this chart: A fibonacci Retracement
A resistance line at 0.76812
A rising trendline underneath the lows of each swing low
The resistance line and trendline creates a wedge pattern since the end of May unti the present; observing this shows that the pair has closely followed a descending triangle pattern. When a fibonacci retracement is drawn from the swing low in may to the high in mid August, you can observe that every single swing has bouced off of the fib. levels precisely while never breaking the retracement.
The wedge pattern is coming to an end and with these technicals and the current geopolitical state that the US is in (upcoming election and "possible Fed Rate hike" the pair should break out to the bearish side as the USD could theoritically appreciate.
support bounce!gbpjpy is coming to a major support level. what we see is a bounce expected. if the bounce doesn't take place we will go short on the pullback, retest after breaking support. for now tho, i am thinking go long originally
Price seems bearish, here are some keylevelsI see the price is actually bearish, so I'm short on this pair.
USDJPY long tradeim long on usdjpy from 101.800 levels target around 106 levels. i think UJ us about to make a true reversal. we will see how this plays out as the pair has been bearish for so long now!
audusd coming downits still in a channel i am selling and exiting towards the lower end of the channel
Potential Cypher AUDUSD 4hrHello Traders,
I hope you have been having a good weekend.
This week, we spotted a potential Bat pattern on the 1hr time frame which has complete.
On the 4hr we also have a potential Cypher Pattern that completes if price can pull down towards 0.7255.
We would be looking for target 1 @ 0.7404 and target 2 @ 0.7496.
Feel free to follow, like, comment and share !
GBPAUD Short Resistance levelon the 4H chart the long term resistance line has just been touched. this has been followed by a nice engulfing candle setup. the recent uptrend support line has also been broken. the 1H chart also shows what looks to me like a head and shoulders setup. all of this is telling me that i believe it will go short.
