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Quarterstheory

AUDJPY Triangle Breakout (WRITTEN IDEA)AUDJPY has been trading in this triangle for the past 8 days. It looks like we are breaking out of the triangle to the upside. I am not looking to trade the retest(this could happen) but this is somewhat riskier. I would recommend lowering your lot size slightly if you want to trade off of the retest. I am looking for strong bullish momentum (I have a buy stop @71.750) with a 25 pips SL and a target in between the next quarters level. Price action is already looking strong to the upside on the 4H, so I would recommend getting into this trade soon if you're going to take it.
by tradetoprofit
AUDUSD time for the bullsAfter about 12 days of serious downside movement we have seen 4 daily candles respecting the 0.6750 support level. 0.6750 is a Major Large Quarter Point. Prices have not traded this low since 2009. Why all the bearish movement? Rate cuts and monetary policy, not just the US cutting rates. Reserve Bank of New Zealand cut rates, which pressures Australia (a big trading partner) to do the same. And as the dollar overall strengthens (look at DXY) AUDUSD falls. So we saw rejection off 0.6750 I am looking for it to make its ascent. Buy in on a pullback (higher low) on the 1H timeframe. Please TIME your trade and look at price action. You don't want to buy before the pullback. I have my targets set at the next whole level 0.6900. Set SL according to your risk. This will be held for at least a week.
Long
by tradetoprofit
1
USDJPY LONG buy in on pullback.I apologize my chart is looking a bit crazy today. So we can see UJ has come to the end of a market at the price 106.84 and we are currently in the 2-3 leg of an elliot wave (the Fib retracements are confirming this). The pullback (the '4' of the elliot wave) is where I will buy in. I'm going to ride the 4-5 wave to the upside. The pullback should happen quickly (next day or so) because of the big price increase in the 0-1 leg (~160 pips). I do not have a buy limit set so I am waiting for daily pullback at about 108.60 near that quater point . The target range in 120 pips. I will have a SL at 40 pips.
Long
by tradetoprofit
AUDUSD Sell Limit at 0.7050 Quarter LevelLooking on the daily chart, AUDUSD is close to approaching the 0.7050 quarter level. In late April and mid May we saw resistance taps at that half level, so I am looking for price action to be bearish on lower time frames near 0.7050 and take a sell from there. Could it go bullish from here? I do not believe so. Looking at the Elliot 5-wave (0-1 leg: 0.6849-0.7033) price is currently in the 2-3 leg. In classical Elliot Wave Theory, the 2-3 leg is the biggest move, which means price would need to move greater than 200 pips without much retracement, this is unlikely. Sell Limit very low risk right at the half level 0.7050. Sell at market with medium light risk once bearish price action is seen in lower timeframes. I will have a 20 pip SL and a 50 pip TP
Short
by tradetoprofit
1
EURCAD Long Typical BTMM strategy We can see on the charts how last week we had a bearish cycle going down to 1.49250 yet could not break that zone. After that, we made a multi session W formation and today we are coming in to create a wedge that should breakout soon enough to create a new higher high and change momentum for this trade to the upside. Stop is a bit too much in my case but I am hoping for a good long term swing to the upside so If price keeps going up I may even keep this open hopefully. Confirmations: - second level rise off a wedge - price could not break hesitation zone of 1.49250 so it could not go to next quarter, therefore it must go up - on 4h we see price pinning liquid 50 and baseline so im hoping for a rejection off that key level - reversal should come in London Session - price is above large quarter point of 1.50000 and should go up to next quarter point of 1.525000
Long
by MeltzCarlos
AUDJPY Going long until further noticePrice struggles to make a new lower low and could not reach the quarter level and psychological level of 75.00. We can see a double top formation coming along with ideal divergence after a macro level cycle finished on a wedge that has been occurring for a matter of weeks now. Going to be looking for long opportunities Confirmations: - Double Bottom - Price struggles to make a new low and reach quarter level - Price divergence on TDI and above liquid 50 (yellow line in TDI) - macro cycle has finished with 3 long term pushes to the downside
Long
by MeltzCarlos
EURAUD macro cycle finished and holding price in large quarterPrice has found resistance in a large quarter point and psychological number of 1.625000. As we can see as well, this correlates with a large macro cycle being finished and made a large M formation between last week and this week. Im looking to enter this coming days as midweek reversal and hold for a long term cycle down for a good 500 pips potentially. Confirmations: - divergence on TDI on 4h with first leg above band and second band below liquid 50 - macro cycle has finished and holding current price - price has finished quarter cycle and held position on 1.62500 and has never past it or made a new high - price made a new higher low but struggles to make a new higher high and consolidates below the high - AUD pairs seem to be having a bit of consolidation across the board.
Short
by MeltzCarlos
EURAUD for next coming weeks Price has struggled to breach the large quarter point of 1.62500. This coincides with a macro cycle of three pushes that has finished (as can be seen in chart in blue squares) and correlates with finished cycle of micro cycle (pink squares). We have divergence on higher timeframes of TDI which indicate a long term swing. Going to be looking to enter in london Confirmations: - 4h divergence with first leg on top of band and second leg below the liquid 50 - respected large quarter point of 1.625000 and created a double top formation - finished macro cycle indicating a good swing - micro cycle has finished as well - price made a new lower high but never made a new higher high after it pinned 1.625 - AUD pairs have been slowing a bit in the past week and we can notice exhaustion in price
Short
by MeltzCarlos
USDJPY Sell to next whole level :: 111USDJPY has taken multiple touches of resistance against the 111.50 quarter level. I am looking for it to travel to the downside to the 111.00 whole level. The stochastic indicates we are not quite in the overbought region yet, so we may see more bullish price play on smaller time frames before a true drop occurs. Entry is right at 111.50 , stop loss is 15 pips , take profit of 45 pips. I would close out partial positions once we come to 111.30 , as we may not see the whole move. DISCLAIMER Trading comes with risk. Do not interpret this as a 100% accurate trade, this is simply my analysis based off the best Forex Education and Signals Platform.
Short
by tradetoprofit
USDJPY up to next whole level (111.000)USDJPY currently sitting at 110.580 , and is on the 4th wave of an Elliot 5-wave. The 4th wave portion is currently sitting at the 0.382 retrace (good entry, this is my only entry at 0.05 lots). Alternatively, you can have partials at the 0.382 , and partials at the 0.50 Fib retrace. Stop loss can be set anywhere below the half level (110.500) and take profit is at the upcoming whole level (111.000) **DISCLAIMER** Trading comes with risk. Do not interpret this as a 100% accurate trade, this is simply my analysis based off the best Forex Education and Signals Platform.
Long
by tradetoprofit
USDJPY 03/08/19- Daily Market closed with a strong bearish candle today. I didn't post yesterday because I didn't see much of a change from my previous assessment of the market. On this timeframe we can see how price played right off of the 786 Fib level and began pushing to the downside. Price may stay within the channel, but if it's a confirmed break, then we could look for price to test the 110.000 range. - 4H Here, we can see price form a tested candle formation on the bottom of the channel (bearish to bullish). Until I see a confirmed break the channel is still valid to me. The way price closed below the Kumo on this timeframe is a signal for more bearish sentiment. However, price did not break the previous low. We'll just have to see how next week sets up for us.
by jonjaytx
EURJPY 03/08/19- Daily Wednesday closed with a doji. Nothing much changed from my previous forecast for the pair. On Thursday, price came back within the channel in a major way and closed below 125.000. This could mean price may make its way towards 120.000 in the long run. - 4H Like I said before, price has comeback and hit the other side of the channel yesterday. Currently we can see a pullback forming. Depending on your definition of a break and retest, price may have done so where the orange dot is. Personally, I think a retest occurs after price finds a place of rest ( level of support/resistance, and must be a bullish to bearish, or bearish to bullish candle transition ) after breaking a level, then comeback to test it. - 1H On this timeframe you can see my previous definition play out right next to the orange dot. We may see one more pullback closer to Kijun, or a retest of the bottom channel and continuation to the downside.
by jonjaytx