Buying Ren again after ridiculous fall. three targets are marked.
Hey Guys just an IDEA. So seeing a bit of a rejection at the resistance zone again, possibility of a double top happening. It broke out of two trend lines and now its retesting a zone. So lets see how the 1 hour and 4 hour candles close. On the 1 hour it kinda closed with a big shadow/bearish engulfing candle stick but went back up. Might be forming a double top...
taget-1= (124.05) target-2= (123.10)
target-1 (1.6555) target-2 (1.6475)
-THE BIG SHADOW
- EURJPY made a jump of 80 pips in 4 hours. - Waiting for Kangourou Tail to form with a high above .786 retracement and close at or below the retracement. Or, wait for Big Shadow to form - RSI is overbought Entry : - Wait for Kangourou Tail or Big Shadow to form then put sell order below the low of it Exit : - S/L above high of Kangourou Tail or Big...
Not the cleanest, but still a convincing naked set up on AUD/USD. Nothing is better then price reacting to the intersection of key support/resistance and a long term trend line. My favorite set ups! - Price stalled out at key resistance of (0.76000) - Bearish engulfing candle 1D - Double top Pattern (4hr) - Bouncing off long term bearish trend line - Aligned with trend