I predict there will have a big upper space for the EURJPY,this huge move may take some time, but it is worth to wait .All we need is patient, and market will show you the answers |BELIEVE IN STRUCTURE|
GBPAUD had numerous support and resistant at this trend line, I believe this is the line for us to catch a perfect long entry. |BELIEVE IN STRUCTURE|
REASON TO LONG THIS PAIR: 1. 0.618 support 2. Using previous structure as conformation Target: 1st target: AB=CD end position + 0.382 resistant 2nd target : red line resistant which is a bigger resistant of the trend
3 Reason to Short GBPCAD: 1: The place where AB=CD end 2: Fib 1.168 3. Previous strong resistant Conclusion: 1.75000 become a significant resistant for GBPCAD ,watch the level for a short opportunity
FIRST, as we can all see ,gold has met the trend line resistant SECOND, gold has just ended the AB=CD move, theoretically gold will have more space to the downward at the future
The resistant level right now was previous supply level, now the price had tested the resistant level yesterday ,now now we can predict that the supply level has turned into resistant level . First target will be 43 which is the previous supply level
1. Oil has just reached the trend line resistant 2.At 1 hour chart (I will upload at the comment area) ,oil has formed a head & shoulder pattern, and it just broke the neckline
As we can see at 1.168 level oil has rejected by the resistant ,this is a clear bearish sign, another reason is at the mean time price has reached the highest resistant level,these two reason enough to make us short this pair.
As you can see before the NFP big bullish candle came out,there is a downtrend channel ,it is an obviously bullish sign . and now gold come into an uptrend channel,so that we can surmise that gold will go into a bearish trend soon another reason i short it because gold has met the 0.618 resistant
Just Keep It Simple Everything is on the chart
Fib: 0.168 price has a bounce 0.786 price has another reverse and now price reach 1.00 resistant target now will set at 1.168 level (1180.5)
Trade with the triangle pattern Trade with own risk ,good luck
Focus on the last two and three candle ,the first one made us consider price already get into bullish ,but another candle made a correction on it, and now GBPJPY has more space to go down
The currency that most people focus,GBPJPY There are two reason to sell it : 1.Trend line resistant as the circle shown 2.Another thin trend line has a cross point at another trend line (the red circle)
Nice buy setup : -Possible reverse head and shoulder -Trend line support as yellow circle showed
Focus on the last 4 candlesticks ,the first and second candle had resisted by the trend line ,while the last two has supported by the trend line I will keep my eye on it and buy at lower high
There is two reason i will long this pair : 1. Price has reach bottom trend line resistant 2. As we can see there is a possible double top pattern, it was another obviously bullish sign