Was having a look at GBPJPY and there were SO many opportunities which required very small stop losses and made perfect sense. 1. Double bottom, Long to previous top = 900 pips 2. Descending channel, Long to previous top = 390 pips (break out strategy or you could go for double bottom within the channel) 3. Previous highs acting as support. Long to recent high...
Waiting for price to reach the 618 level which is also previous support/resistance area. Will only be looking take longs once price reaches the area. If not, will look for another set up. Possibly a continuation set up for this pair.
Price is approaching 618 fib level. Other confluences lie in that area. Will be looking for a short term sell back to the double bottom region.
Almost ready for EU to pop!
Watching for break of bear flag to the downside and then going long term buy.
Just a thought. Any thoughts welcomed.. *Posting to refine my analysis
Entry: Break of trendline or a touch of solid yellow descending trendline
Price has created a simple ABC pattern with a possible move to the downside. Currently anticipating Wave C. B wave has competed the 5 wave correction Awaiting breakout for a downside target of 14.75. Follow me on Instagram for updates: finesse.forex
3 confluences. 1. Bullflag 2. 618 retracement 3. Support zone Targeting -0.27 which is also coincides with channel.
Waiting for price to come to the 618 region and then watch price action for a short.
Looks rather interesting. We could see a correction back to the yellow trend line for another move higher to 0.9500
All the impulse shown in white arrows are the same length. The 2 corrections marked out in the black box are near enough the same. We could see a move down to 75.25 region before seeing a reversal.
Waiting for price to break the ascending wedge. If it carries on pushing up, I’ll be looking at 0.9500 region for a short.
Waiting for price action within those blue lines to signal an entry for long.
Watch price action near top and then short
Waiting for price to move up a bit more. Currently in a bull flag. Waiting to see how deep the correction is. Will look for price action around: - Triple top region (15.673) - This also meets the descending pink trendline - The descending yellow trendline, which is a long term descending trendline (15.8 - 16)