Priceac
GBPJPY, 4hr tf, pennant / flag pattern to materializedHello my friends,
Today was such a good day, my trade managed to hit TP for 4.4R and i banked 8.8% profit.
I started to get my edge back and i am going to post more positions for everyone to trade.
My first setup for today is GBPJPY.
To me, the recent sideways movement looks like a pennant / flag pattern and today i finally see price retest those broken support.
We could expect price to continue decline on GBPJPY as the measured objective of this pattern is 275 pips.
Nearest support is arond 136.30 area so we will try to sell GBPJPY and see if price could touch this support.
Sell GBPJPY 137.80
Stop loss 138.30
Take profit 136.30 (3R)
RR Ratio 1 : 3
Use only 1-2% profit
Good luck
GoldGold-H$ !! Gold has both side views if GOld break upper resistance and retest market then can be reached at 1754 to 1765.
If gold does not break resistance and then resistance becomes resistance then will downward gold could be hit at 1734 -1726.
BTCUSD | beware of a crazy selloff if 8000 doesn't hold
it broke the wedge making an illusion of an new upward trend
it then false broke 10000 and a long-term downward trendline, which should have trapped a lot of people
if it continues to break 8000, the wedge will be false broken, which is super bearish
never trust any fundamental news about Bitcoin, the whales dominant the price movements
GBPUSD Mark UpThis is my GBPUSD mark up. These markets can be so intricate that if you miss one tiny detail then the whole plan can be compromised. Zones on top of zones, but if my analysis serve me well then the moves can equal up to excellent pip gains. We shall see.
Only thing you need to do right here is, is nod you f'n head.Go for it. Por que no?
Longs for days and nights.
Pink lines untested levels.
Price Action Reading Exercise This is a post focus in reading the price action in terms of how is the dynamic of the buyers and sellers, and how an appropriate reading of the overall context (in this case the up trend channel) in conjuction with price signals like fail break outs and price structure (In this case Higher Lows) can provide an idea of potential trading areas where the trader can take "cheap" trades (Low risk entries) in comparisson to the potential reward ...
EURJPY - Multiple scenario trade - Overall Bullish Price on this pair has been on a long term downward trend ultimately leading to that massive Brexit drop in June.
Since then we see price consolidating in a symmetrical triangle near the weekly 111 area.
I have developed multiple scenarios for this pair.
1.
In my opinion it could still retest the 4h support (Pink Line) before making a charge to the 118 area.
Friday closed with a textbook exhaustion candle on the 4H at a short term resistance and could signal a profit taking pull back to the 114.5 area and perhaps a longer term 113.3
2. Price could make a run for the 117 trend line resistance area and pull back to either 114 or 113.6 areas
3. Just like 2. a break out could occur but price could just as well retest the inner trend line and make a run for the 118 area.
This is how I plan to trade this pair:
I shall have a buy limit at 113.7, first target the Inner Trendline and 2nd target the 115 area.
Depending on the R/R ratio a buy order will be placed above the 116.3 congestion with the first target the major trendline (outer line) and second target 118.
Depending on the Monday close, should a bear signal print, A sell stop will be placed below the close of that candle with a first target the pink line and a long term target @ the bottom of the triangle.
Overall I like to be prepared for all scenarios and see this pair as the Money maker of the month.
Trade Safe
