Ukforexsignals
GBP.JPY - Bullish Bat Setup - 137.512On the GBP.JPY Daily chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 137.512 & 136.449
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 144.00
Stop loss would be placed below X leg structure support.
Target 1 - 140.316
Target 2 - 142.109
EUR.CAD - BULLISH CYPHER SETUP - 1.4352On the EUR.CAD 1hr chart we have a potential long opportunity at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.4352 & 1.4285
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 1.4550
Stop loss would be placed below X leg structure support.
Target 1 - 1.4446
Target 2 - 1.4506
NZD.USD - Bullish Bat Setup - .6982On the NZD.USD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between .6982 & .6968
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at .7070
Stop loss would be placed below X leg structure support.
Target 1 - .7023
Target 2 - .7049
GBP.JPY - x2 Short Opportunities On the GBP.JPY 4hr chart we have 2 potential trade opportunity's at the D leg completion of bearish Bat & Cypher setup.
Bearish Cypher Setup ( Blue ) - D leg completion 141.114
Target 1 - 139.820
Target 2 - 139.027
Bearish Bat Setup ( White ) - D leg completion 140.281
Target 1 - 139.302
Target 2 - 138.695
AUD.JPY -x2 Long Opportunities On the AUD.JPY Daily chart we have 2 potential trade opportunity's at the D leg completion of bullish Bat & Bullish Cypher setup.
Bullish Cypher Setup ( Blue ) - D leg completion 84.684
Target 1 - 86.020
Target 2 - 86.830
Bullish Bat Setup ( White ) - D leg completion 84.245
Target 1 - 85.750
Target 2 - 86.663
EUR.USD - BEARISH BAT SETUP - 1.1193On the EUR.USD Daily chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 1.1193 & 1.1300
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around 1.0500
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0865
Target 2 - 1.0662
EUR.USD - Technical BreakdownThe EUR.USD is one pair on my watchlist into next week.
We have now seen price run into a strong resistance and psychological level at 1.0750 which dates back to 2015.
If we see a break and retest of 1.0750 i will be looking for opportunities to take this pair long back into trendline resistance dating back to 03.05.2016
If we see a strong reversal signal on the Daily & 4hr TF i will be looking to take this pair short looking to retest 1.0550
I will be updating this pair throughout the week.
GBP.AUD - Technical BreakdownThe GBP.AUD is one pair on my watchlist into next week.
Monthly:
1. Bullish RSI divergence
2. Support found at 1.6000 psychological level
Weekly:
1. Bullish RSI divergence
2. Low-test candle formed at the key 1.6000 psychological level
3. Last week candle broke the previous month's candles
Daily:
1. Bullish RSI divergence
2. Price breaking above Daily EMA
3. RSI not overbought
4hr:
Bearish RSI divergence is forming which gives me an indication that we will see a minor pullback prior to a push towards the the 1.6700 psychological level.
EUR.NZD - Long & Short OpportunitiesOn the EUR.NZD 1hr chart we have 2 potential trade opportunity's at the D leg completion of bullish Cypher & Bearish Bat setup.
Bullish Cypher Setup ( Blue ) - D leg completion 1.5244
Target 1 - 1.5297
Target 2 - 1.5328
Bearish Bat Setup ( White ) - D leg completion 1.5412
Target 1 - 1.5334
Target 2 - 1.5286
EUR.GBP - BEARISH BAT SETUP - .8749On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between .8749 & .8759
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around .8680
Stop loss would be placed above X leg structure resistance.
Target 1 - .8714
Target 2 - .8693
AUD.CAD - Position BreakdownWhether you are a day or swing trader, this is one pair that had plenty of indepth opportunities to take this pair long.
Below i have given 5 of my basic reasons for taking this position.
1. Target was set at the Daily historical trendline dating back to April 2014
2. Daily RSI was at 69.32 giving an indication there was still room to push higher in the coming days.
3. 4hr EMA & bullish trendline holding as strong support.
4. 4hr price making clear HH's and HL's dating back to the 06.01.2017
5. 1hr perfect consolidation period with bullish RSI divergence
Have a great week.
EUR.JPY - Bullish Bat Setup - 120.313On the EUR.JPY 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 120.313 & 120.015
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 122.500
Stop loss would be placed below X leg structure support .
Target 1 - 121.30
Target 2 - 121.88
GBP.JPY - Short Opportunity The GBP.JPY is one pair on my watchlist into this evening.
Price broke and closed below the pennant formation on the 24.02.2014
Today we have seen price push and reject the Daily EMA, 141.00 level and retest the pennant formation.
I will be updating this post on the 1hr and 4hr TF once an order has been placed.