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GBP/JPY SHORT!Looking on the daily time frame and you will see that history may repeat itself 90% sure of it. Even tho we have news going on wednesday for GBP to bear in mind. RSI and STOCH indicator is showing that it's over bought and the only thing that we're doing is looking for bearish confluence (or signals). I'm a long term price action trader so I see very big potential for a huge move to the downside. like 700+ pips! This is something that you DO NOT want to miss! Be paitent and let the market set itself up for you and keep a goof risk/reward ratio. Happy Trading! For trading education visit my site: JulianSanderson.com under learn
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by JulianSanderson
EUR/USD Analysis for Week 23DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Good day to all! I took a week off last week but it affected me badly. Since no anaysis was done, I thought I could just jump into the market but I was very very wrong. With that being said, lets get started on some propper analysis. Monthly: Alright so with June closing off, here we can see the price is reaching highs from 2015 and 2016. A bit of a resistance level if you will, and a damn strong one at that. The price did move over our moving average but we need to first of all be patient to see if it will break that resistance point and second, set a resistance point. So lets take a closer look. Weekly: Ok so in the weekly we can see a little bit better where we can set a good resistance level around the 1.14659 area. Resistance has been holding since January of 2015. There have been a few minor breakouts but the resistance level is clear. Daily: On the daily we clearly see some more support and resistance. Our major resistance area beign that 1.14659 area. The other resistance that was broken was around the 1.12885 area. In the rectangles highlighted below we see how back in September, October and one day in November of last year the resistance was tested, and once again this past month. So now it could be that it will become a support area if the price rejects the 1.14659 resistance area. The trend line is obviously bullish on this pair. 4hr: This week I want to try out pivot points. I am using these on a daily timeframe. So lets take a look at the chart. First thing we see is that the price crossed our MA and tapped it a bit this past Friday, closing below it. Looking at our pivot point the price was also unable to break it. I firmly believe there will be a bit of a big gap this weekend when markets open. Analysis: Option one: Ok So one of the posibilities is that this price will test that 1.14442 resistance area that did not pass this past thursday and friday. If it breaks, our next target could be the previous larger resistance ar 1.14659 and break down. An it would be nice to catch it coming down. Option two: Other thing that could happen is that this will be the end of this uptrend, seeing as how its come to a major resistance area. Be patient this week, trade smart.
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by EdwardFabianRamirez
GBP/JPY Analysis for Week 19DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Alright guys this has been one hell of an interesting pair for me, so here we go! Daily: Pretty obvious Resistance level at 148.044 but that's no longer out business. Strong bullish trend here, making good retracements. ____ 4hr: On the 4hr chart we get a more clearer view of support and resistance levels. Previous support turned resistance at the 143.686 levels, and a hard resistance level around 143.066. Support at 141.854 which is actually around the area where the price opened this week. So here are my thoughts for this week: Price will break support level at 143.066 and test the trendline or even the 143.686 level. and bounce back down to continue with the trend.
Short
by EdwardFabianRamirez
GBP/JPY Short EntriesDISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". I have been watching this pair for about two weeks now since it started its bullish trend, just waiting for the reversal. Caught some awesome pips this past week and looking for short set ups. So here we go. Daily Chart: We see here basically a double top. Price didnt break past previous resistance, safe to say the price was gonna reverse. 4hr Chart: So if we look at this 4hr chart we can draw a few trendlines. Bigger one being that bearish trendline its been forming since the trend reversed. We did hit some support around 143.398 and the price closed on a retracement this week. Excpected and could be a good spot to look for entries. 1hr: Just confirms whats happening. So I believe the price could touch that bearish trendline and that's where I would look for a set up. See if it will bounce off or will the pair want to go back to any previous resistance.
Short
by EdwardFabianRamirez
AUDJPY heads lower? Hello Traders, Today we want to share with you the FX:AUDJPY as it broke significant trend line on daily close and shows outflow of capital. Technically the market broke significantly support and currently it seems that this pair is heading south. First target is around 85.35. Our inter market indication showing also a tick to the downside as they currently move in extrem inflow area and showing a turn to massive outflow. Our intermarket analysis always helps us time our trades better. We see a good timing of a potential short trade as it seems to change capital flows currently. Technically supported by the daily break of the trend line. We have just opened the second short position as it seems that market heads lower. Keep in mind that Mario Draghi will give a speech today! We will be looking for interesting new entry levels and keep you updated once we see interesting signs new entries in lower time frames. Potential for that currency pair is given with more than 100 pips. Reentries could be made after a pullback in lower time frames. Our Invalidation level is above 86.54. As always, trading is a probability game nobody is 100% right and always use a stop-loss when trading. Trade with care. Cheers
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by secrets2trade
New Zealand Dollar / Swiss Franc DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Alright everyone, check this break of trend that happened these last two weeks. Didn't go too far though, hit previous support and bounced back up on the last hours of Friday's trading. So lets wait for a break of previous support and confirmation of a trend reversal. Here's a look at the hourly hitting the fibonacci retracement levels: Practice patience. Safe trading!
by EdwardFabianRamirez
Downtrend ContinuationDISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". This week I'm keeping my eyes on the Euro / New Zealand Dollar pair. Its been on a down trend for a while now and could be hitting structure from 2015. The channel looking beautiful. At the begging of the month (02/07/2017) the price hit a previous resistance price and bounced. This past week we hit a bit of a side trend so now we are just waiting for a break. Meaning are we looking at the next new low? Or are we looking for a wave to continue the resistance line.
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by EdwardFabianRamirez