Shortposition
EUR/JPY 4H SHORT POSITIONSHORT POSITION:
Price has broken and retested the upwards
channel as well as resistance.
Now waiting for entry at resistance or enter
depending on market open.
HOWEVER:
Price has already broke and retested
and has double topped on the 1H time
frame, therefore if I enter the RR may
not be as appealing.
Lets be real, AUDUSD is going down.As the title says, short position on the AUDUSD. Personally there are so many of my rules met right now to get into this trade.
- Over all AUDUSD on down trend. DXY to support as well as other USD pairs.
- In a down trend within the down trend. Currently at top of retracement.
- Retracement @ perfect .618 area of previous extension.
- RSI over bought.
- Engulfement followed by L3C Candle, strong bearish indicator, at a key resistance level, following a bearish trend.
Taking T1 @ the 1.13 extension as it falls in line with previous resistance level
T2 @ 1.1618 extension with the hope of a harmonic 1:1 extension, which is very feasible.
Of course, will trail my stop one T1 has been met incase I'm wrong on the harmonic.
SL @ ATR based 0.73028
GBPJPY Potential ShortPotential short opportunity.
- Daily chart previous structure supporting idea
- Structure has put in a lower low
- Currently in retracement from previous resistance level
- Price needs to push into yellow area and show some form of reversal.
- RSI looking on track to overbought.
- Yellow area = to .5 - .618 FIB Retracement level.
- Enter on valid reversal
Daily chart supports structure resistance level.
H4 showing pull back in process with a clear lower low structure