WAIT for the breakout in either direction.Probably the US GDP and Durable Goods which are to be published today will determine the direction acording to the publish results.My UP target remains the same at 1.272 extension around 119.30 (Might extend to 120.00) , on the DOWN side 115.50 is my projected target.Trade safe
Take also notice of the divergence between price and RSI.
Entry point at 0.7185 1.272 extension. Stop LOSS at 0.7140
119.30 would be my entry point for a SHORT USDJPY
An equal move ABCD will take us to the 1.618 extension from that triple bottom.Please keep in mind that it is a WEEKLY chart and it may take some time to complete.When it reaches the 12700/12720 AREA I will look to go LONG on : EURUSD,NZDUSD,GOLD and SHORT on USDJPY.
Looking to enter LONG between 16.10 and 16.00 with a STOP LOSS AT 15.70 , 15.799 being the bottom of the kumo cloud.
Waiting for the INDEX to reach the next support , see related charts of AUDUSD and NZDUSD for the short entries on the pairs when the DOLLAR INDEX reaches the support lines.
Enter SHORT at the top of the Ichimoku Cloud around 0.7250 with stops above 0.7310.Also what I use to do to calibrate the SHORT ENTRIES is try to corelate with the DXY or USDollar Index charts.As the AUDUSD,NZDUSD are inverse corelated with the dollar index I use to enter into the trade when Dollar index charts are at support and expect to go LONG .I will publish...
I am looking for 2 setups , if the price breaks the 38.2% retracement of the last significant leg down at 0.7488 and the level becomes support I will look to go LONG until the next significant resistance level (Red Boxes) which is around 0.7550 and from there look for SHORT .If the price gets rejected again at the current levels (Look for price action and...
Waiting for the retracement up to 61.80% to complete around 1.2850 in order to enter short again
Buy at a break of the flag formation with 1.1286 as target then reverse and SELL
Long term support at that level also ABCD completion at 1.618
LONG at 119.30 from cloud support and a retest of the triangle breakout line target at 122
My current view on GBPUSD leaning towards a bearish bias ,but waiting for the GDP figures tomorrow
Short on a retest of the broken trendline at 12035 , my target is 1.618% extention around 11780/50
Buy at 1.9700 the bottom of the channel, target at 2.0260
SHORT around 1.0920 at a retest of the broken channel ( Top of the cloud and 61.8% retracement from the double top ) Target price 1.0550