We have the following factors: Monthly support Daily Role Reversal Zone at 50-61.8 Fib. Wait for: 4h / 1h trend change confirmation pattern or a good price action at role reversal zone Otherwise I wouldn't advice taking this trade, since the downtrend is very strong and may continue. Cheers!
It looks like a successful break-and-retest. AUD/JPY found resistance at the former support level around 74.25 and is resuming its slide to the next downside targets. The 38.2% Fibonacci extension level appears to be holding as support at the moment, but stochastic has room to move lower before reflecting exhaustion among sellers. Bearish pressure could still...
We have the following: Head and Shoulder Pattern (Slanted Neckline) MACD and STOCH Divergence Engulfing bearish breakout from H&S CONS; We haven't broken the long term up trend. We are near to a good role reversal zone. R&R not so good if we use a conservative SL place above the right shoulder. Things to possibly watch for: Good breakout of...
We have the following a possible pullback to a RR area. we could wait for confirmations on trend change in either D, H4 or H1. Basic price action would do. Good R&R If there's no confirmation in the area marked, we have a downtrend continuation.
Hi, on the chart is possibilities to go down. The price bounced down from strong s/r zone and next role reversal pattern was create. We can go down to next green support and that may be the TP. What can help us is, if EMA 100 will cross the EMA 200 and the price be under EMA 100,200.
GBPNZD has been in a nice downtrend that broke thru a daily support level, so I'd prefer to take a trade in that direction on this pair. On the 4hr chart I'm seeing the break of the daily level as a really clean role reversal point at 1.86288 that's already been tested once. Looking for price to approach that level again for a short and targeting the bottom part...
CADJPY has been in a downtrend since October, and impulsively broke thru $85 at the beginning of December. Weak bounce off a decent daily support level at $83.6. Targeting a retest of the 4hr role reversal level for a short entry with a stop above the previous swing high. Targeting level a bit above December lows for a 4 to 1 R trade, though my bias is that it...
GBPJPY now reached support level and bouncing to next resistance area at 183.7+- area. As we can see, there is strong resistance and role reversal area. So from my comprehension, price will bounce back at the 183.7xx area and drop down straight to 182.2xx area where the last critical support there. 1. Wait for the retracement 2. After reached the resistance,...