So we been consolidatin, building up pressure... just wait, when it takes the lows, it's gonna bounce fast and hard. It may wait for a few bars, but then it will rip.... USING MA, STOCH, or MACD on lower timeframe to enter... Initial stop at lows, but then once it rips, use the MA lower timeframe 15 m chart, or draw a steep trendline that follows price, when it...
There is a lot of unfinished business down below, so the red zone is a short zone, until target reached at least.... feel free to fade it. Im also long CADJPY similiar timeframe... so I guess if we get some CAD strength, both trades will do well.
CADJPY is pulling back... We are in an uptrend. Expect a bounce to at least the level indicated.
We are looking for the magenta line to take profits... Of course it can go to new highs, but at least most of our position is sold at the magenta line... why? we are currently in a range, and this is the magnetic zone. It is where price bounces back to before going lower, and ultimately, it is where the price will blast off to new highs from... Ok, our support...
Ok so AUDJPY has had a pullback, it's a good time to play the range... we are buying after it has rallied off the lows. Now if you notice the trend has kind of a round look at the top... all the more reason to exit in the range. Need to be practical, we may experience lower lows, but that high range is like a magnet for the price here... and where better to...
EURUSD bounced, but the long term trend is down, check the hourly chart or the 4 hour chart. So that means these are good shorting opportunities... however, we are in a range, so our target, or at least our partials target has to be reasonable... for this reason the target is not new lows, that would not be reasonable... If we traded like that over last 4 days,...
I am following this penguin, he is the ultimate trader. ok, super tight stop, we are obviously in channel down and this is top of channel, but that cant stop me, look at that consolidation.
you can see it all there.... easy stop set ABOVE first strong bar down.... we'll have to manage the trade, but I expect it to at least hit my TP's.... @chat me up
So there it is, not too complicated. We partial out in profits at key levels, don't let it almost hit our target and go back up, etc.
I'll be moving my stops up to the support levels as the resistance is hit... I'll partial at R2 due to the distance to S2...thats the plan at least. Market has to cooperate and go up.
look at the chart, magenta line is stop and target, blue line is entry
This is a follow up to the previous post since it didn't share both charts... I wanted to add this chart in as well. This one also shows the the area at the top of the chart that wasn't really tested yet...
Ok, so I am using the Hourly Chart and also the 5 min chart to get into this trade... on the hourly, we get some history, lots of support at this level. Also, we have several momentum areas on the charts. Those can be considered tranzient zones, gaps, or just areas that aren't tested. It's likely that they are. On the 5 min chart, we are forming a higher low...
Here is a monthly chart of AUDJPY.. Yeah, I had to look that far back for any resistance to this months bullishness. So, I am looking for a pullback candle on the monthly chart... I am not looking for a major trend reversal from this view, just a pull back due to it being overextended. I cannot say where it will go longer term. SO I find the resistance on the...
Again check out the line of resistance at the level.... We may not get there, it could top before that, but if it gets there, it'll be a tail or spike.. A good volatility play at that level, expect at least four to five hundred pips.
EURUSD is looking bullish, that area where the line is drawn you can see is resistance. If we get there, we short . It's a volatility play, not determining a new trend. It means when it hits that or goes a little over it, it will fall back a ways. New trend can only be determined after hitting target and more bars are available. Actually EURUSD weekly chart...
So if UJ continues to drop, it's a buy around 115.5. Initially, this is a volatility play, it is hitting support and will bounce, how far depends on how it plays out... I'd say possibly go to new highs, but I trail my stop in the money when 50 pip target hits.