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Pin Bar

EURJPY: a pinbar where you need one!Yesterday price dropped down below 200 EMA to the support zone. Later, it moved back up again closing above EMA and within the previous candle's range. This pinbar has three supportive factors making it more significant than any other. ► It breached 200 EMA, yet it closed above it confirming the dynamic level to be a support. ► Opened and closed within the previous candle's range => the whole downside momentum was completely absorbed within a single candle. ► Interest rates support the bullish narrative although it is 5 years since they were changed. There is also one contrarian point that should be weighed in. Japanese Yen is usually a currency relied upon in times of uncertainty. I think we've got a lot of that lately. Good luck!
Long
by OrcChieftain
How To Trade The Ascending Triangle + Double Bottom ComboWait For The Close Above the Neckline at Horizontal Level 24.07952. After the close above level; resistance level turned support. Wait For The Retest Of The Neckline At 24.07952. Watch For A Pin Bar or Rejection Candlestick to form at the horizontal neckline. Enter Trade At The Closing Price Of Pin Bar or Rejection Candlestick. Set Target Price Using Measured Objective Of Pattern. Measured Objective Is 24.37017. Measured Move Is 2906.5. Height Is 2906.5. Exit Trade At Target Price.
Education
by TradeLive-
EURJPY - Bearish SharkShark Pattern, this is what shark pattern really is. If you got stung out on the same shark pattern and once it has grown into the next entry price, the textbook case suggest that you should still engage the trade should the candlestick confirmation come by. Compare to its peers, USDJPY, this is the more well-liked set-up as it was a trend trading setup, unlike the USDJPY, counter-trend setup. I will have to wait for the candle to close at 9 pm (+8GMT) which is 16:00(UTC +3). If a pin bar, or long shadow I will be looking for a shorting opportunity.
Short
by RaynLim
GOLD before the FOMC MinutesToday we're expecting the FOMC Minutes, which are very likely to cause some moves in price. In the last few days we've been talking about a possible reversal on GOLD. This will be a good moment for such an event. We could see price fluctuating and then maybe a downfall in price. The ideal scenario is still seeing price above 1800, then to wait for a reversal candle and then a drop from there. We will be looking for a move down and below 1700, and if this will happen then market shouldn't break above 1830. Follow us to see what happens next.
FX_IDC:XAUUSDShort
by ForexTrendline
26
How To Trade Quality Pin BarsAfter the Pin Bar Formed At The EMA 10 EMA 20, Do The Following Actions Draw Your Fibonacci Retracement Levels Draw Horizontal Support Levels Enter At Pin Bar Close Price Exit At The Previous Swing Low Level The attributes that made this a quality Pin Bar: Pin Bar Close Price is in the Fibonacci Retracement 50% and 38.2% Range Area Pin Bar Close Price is in the EMA 10 EMA 20 Range Area Pin Bar at Lower High Downtrend Technical Chart Of How To Trade The Pin Bar. Before and After Charts. Click on Charts.
Education
by TradeLive-
Rise to 1,1840 and then a drop below 1,1700Here we have very similar situation like the one on GOLD that we looked at yesterday. Even the levels are pretty much the same. Right now EURUSD is doing exactly what we said in our analysis from Monday. We're still expecting a rise up to 1,1840-50. That's the level at which we will be looking for possible reversal and selling opportunities. Should you buy right now? Well, that depends on what type of trades you're looking for. There are potential profits when it comes to long positions, but make sure to watch out for price exhaustion and use less risk. We will let you know once a reversal is happening in our daily analysis.
Short
by ForexTrendline
18