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Forex_signals

EURJPY potential Long 5th Wave MoveUsing our Elliott Wave Indicator Suite for the TradingView Platform we have identified a potential Long 5th Wave Forex Trading Opportunity for EURJPY on the Hourly time frame . The 5th wave move in an elliottwave sequence is the highest probability move. The wave 4 pull back has found support in the Green zone of our probability pullback zones, which represents an 85% probability that our automated 5th wave target zone, in blue on the chart, will be hit. Further more the profit taking pull back is at major support with a Technical Double Bottom forming overnight. We see yellow dots formed in the overbought zone on our special False Breakout Stochastic indicator, which signals strong Bullish momentum. When, during a wave 4 pullback, the stochastic pulls back against these false break out dots and crosses in the oversold zone, there is a high probability the stocks price action will resume the overall bullish trend . We also measure the wave 4 behaviour with our Elliottwave oscillator, which has pulled back within our pre-determined zone. So overall we have identified, using our Elliott Wave Indicator suite for TradingView, a high probability long trading opportunity for EURJPY , !Hr Time Frame with the following entry strategy: We use our 6/4 MA High for initial starting point for long entries and take into consideration and recent pivots during the 4th wave pullback. Long entry through 122.517 Stop Loss $122.177 Target $123 Giving a Risk to Reward of 1:1.4 We have European Data this morning which could be the catalyst we need to move us into this forex trade.
Long
by xBratSoftwareSolutions
3
Market Cycles ExampleEarlier this morning I was working with a student covering the 3 main types of market cycles in FOREX and I figured I would share it. Using USD/JPY 4hr as an example, you can see three differently colored zones. Green/Red reference bullish and bearish price action. The blue zones represent consolidation. Price action is defined as, "basic movements of the price, to generate signals of entry and exit in trades and that stands out for its reliability and for not requiring the use of indicators". Price action is simply how prices change - the action of price. It mostly relates to the pure psychological intention of the majority of traders (Bulls vs. Bears). Consolidation zones (blue) occur simply because buyers and sellers within the market are in agreement. You will see much less volatility and liquidity during times of consolidation. We use this to our advantage with the strategy we have developed, by looking for secondary retests at the bottom or top of areas where consolidation has previously occurred to predict price action before it happens. I suggest that you pull up a 4hr chart and begin to back test by drawing the three types of zones to get more aquatinted with being able to spot these out. This will help you always maintain awareness of which current state the pair you are trading or analyzing is in. 03:05:59 (UTC) Sat Jan 4, 2020
by TayFx
15
Example of an Ascending Broadening WedgeThe ascending broadening wedge is considered to be a reversal pattern, and is bearish in nature. Though the pattern is typically a signal of reversal, continuation of the uptrend is still possible. When present as a continuation pattern, the wedge will still slope to the upside, but the up-slope will typically be found as a pullback within a downtrend. When present as a reversal, the pattern will slope to the upside within an uptrend. Regardless of continuation or reversal, ascending broadening wedges are always bearish in nature. All information and material is for educational and entertainment purposes only and is not intended to provide financial advice. 01:22:09 (UTC) Sat Jan 4, 2020
by TayFx
7
LONG Platinum: TA for VIP memberHere's requested TA for one of our V.I.P members. We're don't trade this CFD so this is purley technicals on the fly. Plat is one where you have a falling wedge that could develop and a break above the upper trendline that could be of interest. For now its choppy and the risk is in the immediate future since we're still declining in the longtime time frame and that will continue to fall to the downsie (ownside break). Trade at your own risk! In the example below, you can observe that on the lower boundary of the wedg,the peaks become slightly higher each time it comes down to the line. This has the effect of ensuring that none of the trades that are taken short in these regions can turn a profit. Similarly, on the upper boundary of the wedge , the same thing is happening with each of the peaks becoming progressively lower and trapping the higher level longs and pulling them down. There is no way of predicting which direction the price will ultimately breakout.This will be determined by the net volumes that occur. In other words, if there is a greater build-up of short positions over the long positions, then the wedge will break up. 01:14:44 (UTC) Sat Jan 4, 2020
BITFINEX:BTCUSD
by TayFx
5