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GBPJPY LONGTrade had broke the resistance which then became the new support and then retested it. It since then started rising I believe the trade will go up towards the trendline area, which I personally set take profit. The next decision happens from around that area whether it will break or respect. If it breaks the trendline and closes above then I believe that it could possibly go higher to the next key area whereas if it respects the trendline it could just be a lower high and will drop after that point
Long
by Kyson
USDCAD IDEAMy thoughts on two alternate ideas: IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels). IDEA 2. If it instead respects the trendline and pretty much the support zone then it can go to test the resistance zone. Also I did a counter trendline as that could be a possible confirmation for it to go higher plus a possible entry once it breaks and then retests. If it gets to the resistance zone at the top, breaks wait for the retest there and there's a good possible entry. When it does break the zone that's when you drop down to the lower time frames to get more precise entries on the retest
by Kyson
Possible GJ Sell Idea!Looks to me that the GBPJPY will struggle around the resistance heavily as it has tested it multiple times already and hasn't broken through in the past. Who knows though maybe it will, you can never know? However more likely a sell looks more like a viable option, dropping heavily all the way to the 61.8% on the Fibonnaci which is a key support zone also. On the way down there is a second possible trade entry also midway at the first support zone, in case you get in late but wait for the pull back once it breaks the zone. Yet again it may not break the support and then test the resistance again, so who knows? But overall, as I see it right now it looks like a very good trade.
by Kyson
EURUSD Head & Shoulders Pattern/Long Term Buy OpportunityEURUSD is heading down towards the weekly support at around 1.16414 then I expect that it would then go back up towards 1.20850 and could then either form a head and shoulders pattern or could go over and continue to go up towards the weekly resistance area at 1.25701. Looking at the indicators such as the RSI and Stochastic also on the Weekly chart, the Rsi looks as if it's heading towards the 30 mark and the stochastic is already below 20. If the Rsi gets below 30 (Oversold Zone) and then the blue line crosses the stochastic and is now on top of the red line then expect that it would go up. Keep a look out for the rsi and stochastic though when it gets to around 1.20850 as it could show signs of reversing. Other than that guys it looks like a good long term buy or head and shoulders pattern. You could place shorter terms trades on M15 in between to make money as the market moves around
Long
by Kyson
1
Projack tells you what is trade managementHey Guys, do you ever have these issues? 1. Market is against me, if I buy, it drop, If I sell, It rally. 2. I don't know where will the market go. 3. A lot of times, I can only win small profit, but losing big capital . 4. My entry price is not good at all! 5. I don't know where is my target? Well, in my video I have pointed out three solutions for you. So watch the tutorial and improve your trading system! Happy Labor Day! ---Yours Sincerely: Jack Zhang (tntsunrise)
FX:XAUUSDEducation
by tntsunrise
38
GBP/USD - Short-Term-Trade - Market UpdateGBP/USD - Short-Term-Trade - Market Update We've been seeing price be in a STRONG -Bullish- trend. Overall I can see price reaching our -27.20% Fibonacci area (About 75 PIPS away). However; I don't see my self placing any entries as of right now. What are my recommendations? If you are in a -BUY- I recommend you still hold this pair as we are still expecting more of a upside potential. Try to modify your S/L into profit (Remember lowering your risk is crucial if you want to be trading for the long term). If you are like me and awaiting a entry we should wait for a decent pull-back. We could have one around NY session we just have to wait and be patient. Regarding any -SELL- I don't see one anytime soon. But that doesn't mean I won't be prepared if we do see price decreasing. If price were to manage to close -BELOW- my Minor Trend-Line I will be placing a -SELL- But I don't see that happening anytime soon. *This is NOT a signal. We are NOT responsible for any type of losses you may encounter. For information on our Advance Training and Life-Time mentor-ship please email us at TheForexClubFX@gmail.com
Long
by TheForexClubFX
USD/JPY (Short-Term-Trade) - Market Update Could we see a possible down-side for USD/JPY? Previously we have seen that price went into a small bullish trend. As you can see it didn't go too far; as it rejected our Major Trend-Line. That area was a extreme critical area as it aligned with a Major 38.6% Fibo area. What do I need for a entry? If we manage to see price closing -BELOW- our Minor Trend-Line I will be placing a -SELL- a good area of T/P would be our Weekly Support as well as our Previous -27.20% Fibo area. We have a few T/P extensions that are not shown above. Regarding a upside movement we are kinda far away from one as of right now. We would need price to close -ABOVE- our major trend-line so we can continue a upside movement. But at least for now I don't see that happening. *This is NOT a signal, for any specific pair review please send me a message or email me at TheForexClubFX@gmail.com *We also have a special promotion until the end of next week for our Advance Training that you wouldn't want to miss out!
by TheForexClubFX