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USDJPY possible 100pipsSo this is what we have right now on UJ! This major down-trend in my previous analysis was below that last high making it look like a fake breakout! Some times a like to clean my chart and re-make all the analysis from zero It fits perfectly like this! Looking at it right now, we see these possibles up-trend channels marked with the dashed lines but none of them managed to really break the down-trend. From jan 20th we saw this rally from 110.20 to 108.50 so fast and then it went up again even faster! This could signal strengh from USD but, price did not close above 110.00 this time! Could be only a pullback before another climb and breakout of major down-trend, yes! Or, as I like to think, 110.00 is a great round number for sellers, since we are back again inside the down-trend and a good opportunity for those who missed it the first time! Right now, we have this support at 109.60.. i'm waiting on lower time-frame for confirmation before entering. What do you think?? Leave a comment!! Also, join me on telegram t.me/tradingbayfx
Short
by rodriguesths
EURGBP 5th wave 300pips!!So, EURGBP is looking interesting for both long and short, we have a possible 5th wave happening that could send price down below 0.8270 making a new lower low! On the other hand, we have a down trend-line that price broke out 10 days ago and is now re-testing the line! In lower time-frames we can match this re-test with a support-resistance zone! Right now, i'm waiting for price action to make a decision! In couple of hours we have impotant news regarding EUR so we will wait before making a move! Whats do you think?? Leave a comment!
by rodriguesths
EURUSD UPDATE! Big moves for next week!!Price is now siting on support trend-line, and if we see a closure below that lvl, next week we could see huge movement down! I would like to see price going down to about 1.1060 and then look for sell opportunities! On the other hand, if price manages to stay on this up-trend channel and breaks one more time the major down-trend, well.. then i would look for buys between 1.1130 and 1.1180! I've seen a lot of people saying long and short on this pair, so i guess everyone is just waiting for the breakout to happen! Because of that i believe the breakout will be agressive, so next week i'll keep my eyes on this one, lots of pips to catch! Whats your opinion?? Share it here in the comments or on Telegram! t.me/tradingbayfx
by rodriguesths
EURUSD patience is key right now!! Breakout coming!!Here we have a complicated situation, price broke above the major down-trend but got back inside! Now is sitting in a zone where i'll have to wait and see who's gonna win! Buyers or sellers? For buyers to win, we have imediatelly to stay above 1.1110 at least, and next week try to break the trend and re-take that 1.1180 zone! hard... On the other side sellers would like to see price closing below 1.1100 and next week hope for a break down the up-trend iniciated on sept'19! Not forgeting that inthat same zone we have what i think its an important level to consider, 1.1070 who have been used before as both support and resistance! For now, i'm staying out of this pair! What you think?? Also, if you want discuss everyday analysis and ideas with other traders, join us on Telegram! t.me/tradingbayfx
by rodriguesths
CADJPY Looking to go down !! 100pips!!By now, if you've been paying attention to my previous analysis, you know i always prefer continuation over breakouts! I just think its safer for entries! This pair is a great example! Price just touched a multi year trend line dating back to 2015! I'm in for the SELL for sure, 83.00 could be my final target because of the new up-trend that formed since aug'19 ! A small SL as always and lets go! What do you think? Le me know in the coments!!
Short
by rodriguesths