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Highprobability

AUDUSD - KISS 'Keep It Simple Stupid'The 0.7635ish area we're focusing on looks probably messy, but that's for the sake of education. Having drawn those Fibonacci lines could give you an idea on how confluences work without the need of many tools, but just a line here or there. Drawn from the long-term low in 2016 (zoom out!) to the recent high, we get the yellow 0.382 line. On a smaller swing, we have the orange line that gives us the 0.50 fib retracement. The even smaller swing gives us the red line which shows the 0.618 fib retracement. And lastly, the dark red line drawn from the retracement of the top gives us a 1.272 fib extension. The lines are formed within a 20 pip area and bounced off immediately. Showing more traders/investors are looking at this particular spot. This huge Fibonacci zone plus an intermediate-term trend line showing support (first resistance, and when it breaks it should become support) gives us a high probability swing trade with potential compound entries. We'll try to keep you updated on this ride. Happy pippin'!
Long
by TradingFellow
Short EURJPY + GBPJPY - Momentum ScalpToday is relatively a non-event day for EUR and GBP so learning from my failed AUDNZD Short yesterday I'll try betting with the momentum. The basic thesis is if there is no fundamental event that alter the market perception of the pair, retail sentiment will be able to influence it and force the pair to drift. The reason I choose EURJPY and GBPJPY is because they are the most shorted pair. This is also still within my experiment thus I'll only bet a combined 1/2R on these 2 bets. I will continue to monitor sentiment across UK and US session to see if there is any acceleration/decelleration of the momentum. Technical level to watch: - EURJPY: 133.0 - 131.5 (I don't think it can drift all the way there but I hope it can drift and end the day as close to 132 as possible). - GBPJPY: 149.5 - 148.5 (again, I'd be very happy if it can touch 148)
Short
by vietbach1990