I did not hold the trade until TP but took a significant profit. I moved SL into profit but didn't wait for signs of reversal to get out. Price went to TP after volume kicked in. I need to remove emotions...set it and forget it! Next trade we will risk a percentage of profits and let the trade ride.
Bullish on USDJPY based on daily timeframe. If USDJPY can get pasted 150 range and come back to retest subsequent entries could be taken. I think news will push it up as it is holiday season, and the FED did not increase interest rates.
After looking at higher timeframe H1/H4, came to the conclusion that NAS100 is trending bullish and that we most likely won't see a significant pull back until 1600/1675 range so around about Thursday/Friday. Pullback being a result of the news.
I would like to see MERCK pull back to $81-82 range. With news coming out of FDA approval of their COVID pill it will be a quick spike to the 85-95 range and then a pullback. Approval should happen the first or second week of December. Looking at options calls for $83 if stock pulls back to $81-82.
I believe that price is currently ranging between support and resistance. News could push it in the upward direction but i would want to see it come down to touch the support line as outlined by the red drawing.
I believe that price will travel on the path of the red line based off of key levels indicated with support and resistance lines. This could happen in a day or may take until mid next week.
I saw bullish divergence on the RSI. Price currently reached a support line that was previously drawn.
CURRENTLY HIT A LEVEL OF SUPPORT. I SEE IT TRADING SLIGHTLY HIGHER AND THEN CONTINUING BEARISH RUN. BUYERS TRAPPED AT 152.00 LEVEL. I SEE THE MARKET GOING TO AROUND 143.08 LEVEL OVER THE NEXT COUPLE OF WEEKS. COULD ALSO BE A SLIGHT RETRACEMENT BEFORE GOING BACK UP BUT ITS BEEN ON A BULLISH CYLCE FOR OVER 12 WEEKS AND IT HIT A KEY LEVEL RESISTENCE AND DID NOT BREAK IT.
TRADE ANALYSIS HIT TP. CURRENT BULLISH TREND EXPECTING A PUSH PAST 152.74 AND A RETEST OF THAT RESISTENCE LINE TO OVERALL BECOME SUPPORT LINE.
Please do not take my trades. These are just analysis. PRACTICING
GBPJPY prediction. Please do not make trades off of my predictions...I am using this for study purposes.
I drew the trend lines, support and resistance last week and caught some pips down. Still learning to trust my analysis. But this is what i have in mind for this week. I'm in this trade at the moment for a 30 pip SL and around 60-90 pip TP. Once I hit TP 1 I will move my SL to break even. If there is consolidation after TP one i may close for profits. Let me know...