Simple as shown in the chart above.
Simple ascending channel setup on USDJPY SL is 20 pips below current price. Once the price move to 114 handle the SL should be placed to breakeven, thus giving a risk-free trade.
I spotted ths AB=CD pattern on NZD/USD even though the extension of BC isn't perfect the pattern seems to have a a high potential. Take profit is almost near the C point.
Price is on a recent upmove I predict that the price will reverse from the Wedge Support.
USD/JPY has been trading recently in a strong down trend. Price retraced back recently and now is within a resistance Structure so therefore I anticipate that the price will fall soon and complete its selloff.
Resistance Rebound Pattern...Simple and Clean
Simple Trend Continuation Setup 61.8% fib level aligning with a support structure.
Simple Trend Continuation Setup 38.2% fib level aligning with a resistance structure.
Price is facing support-turned-resistance structure with overall trend bearish (Trend is forming) Take profit above the last swing low and SL above the Resistance structure. Reward:Risk ratio=1,6:1
This is a trend continuation trade. Price now is facing a resistance structure which is aligning with the 50% fib level of the last selloff leg. Overall trend is bearish so this will be a riding trade wih high reward:risk ratio ( the take profit placement is above the support level )
Overall trend is Bullish. Now price reversed to support structure. Probabilities are skewed towards an uptrend move.
Price broke the descending triangle to the downside and the overall trend is bearish.
This is a counter trade based on a classical AB=CD Pattern that doesn't respect Fib ratios,but the length and time of the leg AB is equal to the length and time of the leg CD , and moreover the D point is aligning with a support level structure which gives the trade a high probability of success. The First Target is 50% of the leg CD , while the second target...
AUD/USD has been trading recently in an uptrend and now price has retraced back to the support line(Red line). Fundamental outlook: USD still under bearish pressure