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Eurshort

EURJPY Patterns forming 15min/60min1. Bearish bat formation which turned out a winner, but not before putting up a fight. I entered this one since we also had a previously tested support and resistance area. 2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal. Not an optimal scenario for a bullish bat. However, patterns are patterns. Its up to you and your plan to decide whether or not to take this one. 3. Lovely, both bearish cypher and gartley completing at (almost) exact same level. We also have bearish trendline as resistance previous structure as resistance. Alternative. Price action violates C-leg of #2 bat before plumming down, which leaves neither #3 completion or #2 completion. Since #1 won I'm happy either way, but lets prepare ourselves just in case the race is on!
by timmynorin
EURGBP LONG TERM SHORT: Fundamental and TechnicalTechnically EURGBP is overvalued, trading outside 800 period BB on the daily chart. Long term bearish divergence is seen towards 0.90 and 0.92. Targets = 0.86 (missed monthly pivot) and 0.81 (missed monthly pivot) with profit being taken every 100 pips along the way to these targets. Fundamentally the Euro should remain under pressure since Draghi has not changed his stance on QE and rates. This may change in December, however. More importantly, the BoE should not cut interest rates further in the wake of strong UK data since Brexit. This should support Sterling.
Short
by Exercise-Discipline
EURUSD Daily Short setupWhy? Broken bullish trendline, should as act resistance. 61.8 fibo retrace Structure, previous support, should act as resistance Bearish trendline, should act as resistance What more would I want? I'd prefer RSI to show even more overbought, but still, enough to hold my case. Taking profit above previous structure support. NFP tomorrow, but since this trade is on the daily I'll leave it to its fate. Oh, noticed the bat? I'll leave it there for motivation. :)
Short
by timmynorin
3
EURJPY 4H Short SetupWe have lots of fun stuff going on here. Price is heading into previous structure and resistance zone which have proven itself several times in the past. We have a bearish gartley just about to reach its D completion - which in turns comes very close to the previous, broken, bullish trendline which also should act as resistance. Looking at the hourly we've also reached a overbought condition . And to tie things up we have a nice round number in our favor - 114.000. Which also is my entrypoint! Happy trading!
Short
by timmynorin