GBP worst performer of last year
Only currency to hold it's own through all the recent dollar strength... That means something
Imagine the dollar weakens?
Top Performer next Year ... Watch
USDJPY has been in a neat bull flag
1.) Holding over the 38 FIB so the extension after we breakout should equal the first.(drawn in green lines)
2.) 161 retracement objective is also at 107
A month ago I posted an idea about buying gold at 1250. I said to watch just the weekly chart and let it come to us and it has!
1.) We're at the 38% retracement of the whole rally
2.) Price sitting on 50 Week MA with 20 Week MA still sloping up
3.) Solid Risk Reward at this level to play continuation of this gold uptrend.
When I stumbled upon this weekly chart I almost thought it was too good to be true. I've personally never seen such a clear weekly consolidation pattern and that may leave it open to manipulation and failure but I simply cannot ignore the potential.
1. We're consolidating below the 2009 low @1.35 and after the strong BREXIT induced drop.
2. After such a strong...
1. Rejection of long term downtrend line
2. Retail traders flip long (contrarian signal for losses)
3. About to lose short term support line
.72 is the first target. Sell a break below the red trend line or wait for a bounce and sell aggressively. Give yourself 50 pips risk we're looking at a minimum of 300 pips on this play.
"Be honest with yourself, if or when you fail the change of direction will not kill you." - trader quotes
We all need to stop forming hard opinions, no one can predict markets. The only thing you can do is find a trend and follow it. Here I'm giving a great example of that stage in between. I could say short , I could say long. But until we break to the topside or...
I expected a break of the Resistance Trend line but with the rejection and drop I must change my bias.
Please don't try and buy here - We are likely to test 100 and possibly even break down.
This will be the third test of a horizontal support level - High probability of break down
Retail longs building since the drop - You want to trade in the opposite direction of Retail
USDJPY is pressuring the downtrend line. 3 times a charm - We should break 104 and extend
A high angle uptrend is taking place so use tomorrows NFP to buy a dip
-Buy near 102.5 that represents the 38% retracement and gives you 75 pips risk to the downside vs 150 pips reward just to 104
-If we don't get a dip or you miss the dip wait for a clean break of 104 and...
I've found the perfect buy point for Gold it'll just take some time and patience but it'll pay off.
Don't watch any charts below weekly let the dollar run for now and let Gold come to us.
Buy At 1250 stop below 1200 with a minimum target at 1375. 2.5 Risk/Reward
- 38% Retracement of the whole rally from 1050-1375
- Only $50 risk from the invalidation point of the...
We're sitting at resistance after progressive lower highs and lower lows. The trend line supporting price right now is tight and I think it can easily break down.
In addition I think there's a lot of false bullish sentiment on this pair yet the technical's aren't supporting that so if we fail here there could be a drop to the daily trend line area.(Highlighted in...
After completing a bullish W pattern GBPJPY dropped off the top level into what I think is a bay of support. You have the 38-61 Fibonacci Confluence here that I think will hold the pair up.
This is the first time I'm uploading a chart on Trading View hope it's worth it!
