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GBPJPY - LongPossible long sent up on GBPJPY following the Wednesday candle closes January closed with a strong wick bounce from support at 137.00 And price over the past week has shown bullish intent Break and retest of the descending TL on daily as well as a close above support at 141.50 which is a level confluent with a daily 38% fib support and todays daily candle shows bullish continuation Anticipating price potentially reaching the -27% fib extension at 147.00 Lots of GBP news tomorrow though which will cause volatility so this trade will need appropriately managing
Long
by Erudite_Investments
GBPCAD: a curious configurationGBPCAD closed the day in a very curious configuration that deserves being observed for potential action. The price touches the trendline and on the Weekly (below) and on the Daily. However, the closer zoom on the H4 timeframe in the main chart shows that the price actually broke out the downwards trendline. Now the peculiar thing is that this level: Sits on a 50% Fibonacci level taken from the weekly higher 2 times back. Is just above the 50% Fibonacci level taken from the latest lower high. Is just below a Fibonacci cluster made by the one taken from the weekly higher 3 times back and the one taken from the latest lower high. All in all the configuration is not one we see every day: not that I expect the price to bounce back and forth like a flipper ball, but this is not a moment for me to jump in. Unless the Fibonacci cluster sends the price decisively below the trendline, the first hours of the market see me #NEUTRAL on this.
by AlbionTrader
NZDUSD 1D Channel Break ?NZDUSD has been very choppy the last year and a half but it has slowly ascended within a wide channel formation. The pair had a very strong bearish move after yesterdays interest rate hike but it is yet to approach the bottom support of the ascending channel. I am looking for a brake of the channel and if it's broken I would go short @ 0.69876. My first target would be the daily support somewhere around 0.68000 if the is broken then I expect further down movement
Short
by JorgeLantigua
GBP/JPY HEAD AND SHOULDER PATTERNGBP/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last 2 weeks of bullish gains. Traders should wait for a breakout of the pennant/flag that contains this pattern. Wednesday - (Jul) Manufacturing Production, BoE Gov Mark Carney Speaks and BoE reports on current inflation. Thursday - JPY GDP (Q2) data and various others, Positive data and strong yen (currently) will play a huge factor in a bearish move to the 61.8% Fib retrace level. Possible that it can break and reach 1D support 129.10 Currently I am short and have been when price kissed the 1D resistance Friday afternoon.
Short
by RenkoBuddy
USD/JPY HEAD AND SHOULDER PATTERN USD/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last week of bullish gains. Traders should wait for a breakout of the support zone as price tested for support 02/09 12:00 (GMT+1) We have a supply zone above price and a demand zone from 102.37 -101.72. Expect some choppy movements through the demand zone and possible break through to the 1D support level 99.67. USD - Chances for September rate hike are getting lower as Fridays NFP was below expectations. Last weeks USD data was a wash with negative and flat data and I don't think this week will be any different. Thursday - JPY GDP (Q2) data and various others, Positive data and strong yen (currently) will play a huge factor in a bearish move.
Short
by RenkoBuddy
1
AUDNZD Wave 4 TRIANGLE SELL SETUPAUDNZD looks to be in a downward wedging pattern, at the completion of which i will be looking for a bullish breakout, however, in the mean time, a bearish 1-2-3-4-5 sequence looks to be taking shape. Wave 4 has set up nicely here in the form of an elliot wave triangle meeting all the rule requirements. This is an opportune time to open a short position here at the e wave of the triangle, anticipating a breakdown of the triangle pattern to the lower boundary of the wedge to complete wave 5.
Short
by Sensei
GBPUSD Potential Long SwingTRADE TYPE: SWING Although GBPUSD has been bearish over the long-term, recently it has been extremely bullish, consistently making higher-highs and higher-lows. This could be part due to the fact that we are bouncing off of LONG-TERM support at weekly and monthly lows. Regardless, with today's news between the ECB and U.S. Jobless Claims price action has broken out of the indecisive ranging wedge that it was trading within throughout this week. Making a new high, we are expecting to see a bit of a sell-off out of Asia and during early London hours before another upside rally. The 1.44000 level poses a HUGE line in the sand for further upside movement, with a gap-down in price seen on every time frame including the Daily. This gap in price shows A LOT of selling pressure at that 1.44000 level that we do not want to mess with. We will look to take profits just before that figure if this trade plays out, and if we happen to break above 1.44000 with strong conviction, we could see even further upside on this pair! Here at Unique4xPro we pride ourselves in being the World's first "Virtual Forex Trading Floor" where we will turn ANYONE that trades with us into a profitable for FREE! That's right... for FREE! All you need to do is to fund your own trading account. If you want to join our trading team check out www.Unique4xPro.com Also follow us on all of our social media: Twitter @ Unique4xPro Snapchat @ Unique4xPro Instagram @ Unique4xPro Tune in to our daily live market reviews @ 4:30 PM EST on Periscope @ Unique4xPro
Long
by UnknownUnicorn261897
1
NZDCAD Bearishas you can see i am short since the last top. The pair have been bullish since 4 years ago. not because of the strength of the NZD but for the weakness of the CAD. you can see the pair didnt make a high higher so the up trend is getting weak. Theres is a posible formation of a double top pattern. Any ways the price should go to the trend line. is a good trade, lot of profit. could be the start of a down trend. You could also trade in a lower time frame. if you miss a entry just go to a 1h chart and look up for a pull back to get into the wave! lets get some pips
Short
by luismialcega