An overview of what I see on the Pound / Yen chart. Having a bearish bias since it broke the 1H trendline. Since I trade trendline breakouts, hoping to see a break of trendline to the downside on the H4 / 1D timeframe. Will keep updating this chart. Thank you for watching!
After some time of hiatus, I am back. This week I will be watching EURUSD to see if price will go how I depicted in the chart. If it does, I will be entering a short after break & retest of the blue trendline, targeting the 61.8% of the weekly fibo. All the best traders.
Price has moved back to the area it broke from the wedge. Currently is maybe the start of the third impulse wave from here. Next move is long to around September high. Good luck all.
Price is retracing back to the downward trendline after it has broken. This is commonly seen after price has broken a certain structure. Looking to buy this pair up to the 61.8% retracement. TP at 0.73900 area
Price is in the supply zone at the 4h chart. Will look for short with SL above the supply zone and target TP at 50% retracement.
Price is at the top of the downward trendline. Shorting here with target at 50% retracement (46.20)
Going long here and targeting yesterday's high as TP. Good luck!
Trendline is respected here. Going short with TP at yesterday's low. Good luck!
For those of you who are long, it's a good idea to close when it reaches the trendline as the main trend right now is bearish in the coming weeks since it has not been able to close above 148. Selling after it reaches the trendline. Price could go down all the way to 142 area. Trade with care.
Going long here as price is trading inside channel. Targeting 112.300 as TP
Price trading inside channel. Target previous low or use a fib for your target. Good luck!
In the chart, GBPUSD has finished retracing to the downside after the break last week. If you check the 4H chart price is already rejecting the 1.30 area.
Look for buys. The price is still trading inside the channel. Stops below the previous swing low and take profit at the previous high or 83.600 as extension.
In the 1Hr chart, price is trading near the bottom of the trendline. As a trendline follower (most of the time) I will look for a long in this trade unless it breaks to the downside of the trendline. Good luck!
In the 1D chart, price has reached the top of trendline indicating there may be resistance in this key area. I will be looking to short this to the 61.8% retracement.
A hammer candle just formed on the 4Hr chart. Looking to go short with SL above previous swing high and TP around 61.8% retracement.
As we can see in the chart it has broken the lower trendline. Entering short at current price with TP at 61.8% retracement and SL above previous retracement.
USDJPY has broken the lower trendline on the 1H chart. Advisable to go for a short here and target at least the 61.8% retracement.