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Dailysetup

Dollar/Yen Early 15minute Entry from a Daily setupI decided to go as low as the 5minute timeframe for an entry into this Bullish Pair. As I noticed price respecting structure creating higher highs and higher lows on the 1hour, 30min and the 15 minute time frame, I felt very confident going Long upon a retest of any support along with a reversal candlestick. After a 30 min higher high and a retest on the buy side of a strong correction trendline, I decided to go Bullish immediately. This entry is very tight considering the fact that this is a DAILY setup. My target projection is -27%. @ 138.700 of a Daily 78.6 retracement. My stop loss is beneath the prior 1H low as I notice price respecting structure @ 134.357. Risk to reward was excellent at 13.7
Long
by DesharedPierreJr.
FTSE ready to challenge the highs?The chop in the FTSE continues. We saw those levels mentioned previously between 6970-6920 do another great job and we are a decent amount higher today. The uptrend support line was pierced on a closing basis yesterday and we are back above it as it stands. I think we need to see it kick on above yesterday’s highs if we are to fully get behind a rally back to the highs. The weekly pivot it’s at 7024, the 10 SMA is at 7021 and yesterday’s high was 7013. If the market can overcome those levels then a fresh attempt at the highs is possible. I think it’s now or never for the push higher as the longer the index spends probing those key support levels the more chance it has of breaking down. Visually the charts remain bullish so the preference is to buy on weakness, however for those that are in the bearish camp an intraday sell can be attempted at the trio of resistance levels mentioned above between 7013-7024, stops at 7060.
TVC:UKX
by Investamate