EURAUD LONGSH4 price action still bullish. Price bouncing off the H4 support zone with 1.6500, trendline and 61.8 as confluence. Longs activated
Simple
USDJPYHere is our in-depth view and update on USDJPY . Potential opportunities and what to look out for. This is a long-term overview on the pair.
Alright first, let’s take a step back and take a look at USDJPY from a bigger perspective. For this we will be looking at the H4 time-frame .
USDJPY is currently trading at around 151.800 after making its correction down to 150.400 .
Scenario 1: SELLS from higher levels (153.300)
We are at 153.300.
That would confirm our pullback to the uspide and as long as it’s respected, we should continue to the downside to our next KL (Key Level) sitting at 150.400.
Scenario 2: SELLS from 150.400
We dropped down to our Key Level 150.400 . If broken we should see more sells down to our targeted zones 149.500 - 149.000 .
Scenario 3: BUYS from 154.700.
We broke above 154.700 and are trading above it. We should see more upside potentially reaching new highs at around 158.800 .
Personal opition:
The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at 153.000 - 153.300 . Be patient and stay tuned for updates on this pair.
KEY NOTES
- USDJPY breaking below 150.400 would confirm sells down to 149.500 - 149.000.
- USDJPY failing to break above 153.300 would confirm sells.
- Breaks above 154.700 would show signs of reverse and could potentially rise up to 158.800.
Happy trading!
FxPocket
How I identify the best forex pairs to trade: (2)Here is how I identify the best forex pairs to trade: (Publication #2 / Update)
In the top left panel, the indicator 'Compare Forex' displays the PERFORMANCE of each major currency.
The USD (red line) has been the strongest currency for the past 2 months on H6 charts.
By identifying the strongest currency, all that remains is to trade the USD against all the other currencies since they are weaker.
= Smooth stress-free charts.
I look at my trades 2-3 times a day to see if they are still blue or red. Takes a few minutes.
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DEC 1st UPDATE: Last week, the JPY became the strongest performing currency. The JPY (yellow line) crossed above the USD (red line). When the performance of the USD became weaker than the JPY = The USDJPY PAIR turned down.
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Hope to recieve boost!
This follows up my D1 plan, fifth wave of Elliot Wave.
Trade wise 👍.
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SL behind 1 peak.
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Note: Trade wise 👍
think cold.
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Retest can finish without hitting the box.
Sidenote: I have two boxes and don't know which on chart will go, but it will still go up so there shouldn't be any problem.
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