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Riskrewardratio

USDJPY short opportunity...ish?Price conveyed a strong downtrend, then it created a pennant, which is a continuation pattern. And if you look at a greater picture, you'd see that price created lower lows, and it was far from reaching the previous high. SL is crucial for this trade. Since it's a pre-market trade, the pips spread can widen at the start of the trading week. USDJPY's spread is currently sitting at 10 pips, which is why I moved my SL 10 pips further than intended. As for the TP, then I first copied and pasted the vertical line that showed the height of the previous downtrend, matched it with the recent reversal pattern, and there goes my TP. The lowest low that the price made recently kind of matches my TP zone. Price hasn't tested any levels near that low yet, I think this is a potential Area of Liquidity. So the market can be very tempted to reach that level, I'd be fine if it is my TP. It's nighttime guys, I'll go to bed in just a sec, so bye!
Short
by NhatHoang123
EURUSD WEEKLY ANALYSIS! (POTENTIAL SHORT SETUP)Good day traders, welcome to another weekly analysis by ChinSengFx and I hope you all are having a great week ahead. Let's talk about EURUSD, as you all know, European Union efforts to agree on stimulus package has been a challenging effort for all EU leaders. Therefore, the strength of EUR will be directly impacted. Based on technical perspective, EURUSD has reached the previous high on March 2020. A push to the downside (favorable to 1.13353) is most likely. We will be looking at bearish reversal candlestick to form before going into the trade. Entry Price: 1.14481 SL: 1.1503 TP: 1.13353 Risk:Reward Ratio: 1:2.11 Always enter a trade with clear direction and manage your risk per trade well. It's always you versus yourself in the market. Happy trading!
Short
by ChinSengFx
EURUSD WEEKLY ANALYSIS (SHORT IN 4H!)Good day traders, I hope you all have a great weekend ahead and plan your trading strategy week ahead! Start off with EURUSD analysis, based on weekly chart, price can created a shooting star pattern. From H4 timeframe perspective, price has broken below the previous low (1.1280). As of now, price has broke below EMA55 in H4 timeframe. Therefore, we have all the analysis supported that price would further push to the downside. A correction would be make first and ideally to 1.1280 before a further push to the downside. Entry price: 1.1277 SL: 1.1345 TP 1: 1.1180 (Short term, fibonacci retracement 38.2%) TP 2: 1.1100 (Long term, fibonacci retracement 50%) Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
Short
by ChinSengFx
GBPJPY Ready for a Channel Breakout?Hey traders, We can expect a breakout from the channel to the upside. Nice bounce on monthly support (double bottom) and now close to weekly resistance. Good risk reward ratio RRR if you take entries on lower time frame. You will most likely get a retest of the channel resistance after breakout (resistance becomes support). If we don't see a breakout to the upside, use retest of channel support becomes resistance for short entry. If this was helpful, give a thumbs up and follow me for more. Thanks! Let me know if you have any questions in the comment section. Happy trading, Johan
Long
by tradingwalk
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