Trade Analysis: Waited for the Daily Close of Candle. Waited for Retest of Wedge Support Line. There was no retest of wedge support line becoming resistance line for GBPJPY. This was a 4.52R Trade Idea. Risking 2% increased account 9.04%
Support and Resistance Line + Fibonacci Retracement 61.8% is a confluence.
January 7, 2019 Daily Candle Closed below the 50% Retracement and Resistance Line. January 8, 2019 Candle Closed below the 50% Retracement and Retested the Resistance Line. Enter: Blind Entry Stop Loss: Between the 0.618 area and 0.786 area Target: 0.67579 (February 2016 Swing Low and January 2019 Swing Low) Execute SELL LIMIT MARKET PENDING ORDER
USDSGD broke support line at Price Level 1.36066. Support line is now resistance. USDSGD retested resistance line at Price Level Area Zone 1.36066. USDSGD is 19 Pips away from Target for a 2.06R Trade.
Target Price 8.53163 Wait for a Daily Close above/below the wedge support resistance line. Wait for retest of the support resistance line.
Wait for Daily Close (Break Wedge Support Resistance Line). Next wait for retest of the wedge support resistance line.
Wait for a break of wedge line support resistance. Next wait for the retest of the support resistance line.
EURZAR PARALLEL CHANNEL Break-Out Candle has a sizeable wick length. The next candle did not retest the line.
EURCHF Wait for the Daily Close above/below support resistance line. Wait for the retest of support resistance line.
Wait for a Daily Close above/below the wedge support resistance line. Wait for the retest of the wedge support resistance line.
EURUSD Wait for the Daily Close above the Wedge Resistance Line. Next wait for the retest of the Wedge Resistance Line. Resistance Line becomes Support Line. Action: Place a pending order. Place a BUY LIMIT ORDER. Enter at support resistance line (area). Enter at wedge support resistance zone area.