$JOY Potential Continuation Long
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- Market Internals today 07/18 are calling for a continuation of bullish action tomorrow morning.
- That being said, market internals can quickly change, i.e. the S&P 500 starts to trade below its 100 SMA and the Breadth Ratio reverses to show bearish sentiment.
- If tomorrow we see a continuation of the bullish market internals, then look for a potential retracement of $JOY to the Kijun-Sen or the 20-period SMA for a good risk/reward potential back to the prior highs.
JOY
TWO SCENARIOS FOR AUDJPY. For short: I think it's a good idea to short from 50% level to target the bottom at 72.5.
For long: it's wise to long from purple area. The first entry would be if there is a retest of the lower purple box. Second entry would be after the weekly downtrend has been broken, then a retest of the trend line around the second purple box.
Bull Flag Showing in Joy 4H BarsBroke out of down channel last month. Appears to be consolidating in a small bull flag.
USD/JPY dropping off strong resistanceThe USD/JPY looks to be dropping off a strong support and near the 23.6% fibonacci line. We enter short with the target set at 111.00. See www.plusfxtrading.com for more analysis.
JOY Day Trade Retest Gap (Brad Reed Mar5,2015)JOY expected to open at 39.18 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
Joy bullish"Joy to the world" Nice bullish retest gap. Good volume in the morning. Looks pretty on the hourly. Nice R:R AND Cheryl Moll liked the trade! ;)
