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EURJPY 03/05/19- Daily Price closed with a small bearish candle. Everything is still above the cloud signaling bullish momentum. We could see a reversal soon. - 4H Price has come to rest near 78.6 This could be where we see price reverse back to the upside. It's no guarantee since we see price falling back inside the channel. - 1H We can see a strong rejection off of 78.6. This could be the start of the uptrend back to the top, or hit the channel (or Kijun) and head back to the bottom.
by jonjaytx
EURUSD 03/05/19- Daily EU finished with another bearish day. Everything is below the Kumo signaling more bearish momentum. We've come in contact with 1.13000. This price seem to be tested before dropping a little further into 1.12500 range. - 4H Price is showing more bearish tendencies on this timeframe too. We could be looking at a continuation to 1.1250. - 1H Currently looking at the consolidation around 1.13000. We are seeing multiple breaks and retests of the key level. It could be a setup for another entry to 1.1250. We'll just have to see.
by jonjaytx
USDJPY Update 03/04/19- Daily The daily candle closed with a small bearish doji. Not a lot of movement. Price is showing signs of possible bulls taking over again and hitting the top of the channel, or finding rest around 112.500. - 4H Price has been in a range of consolidation all day. We could see this continue into the morning, or at least London Opening. - 1H There are some wicks showing a strong resistance level around 112.000 (Minor Whole Quarter Level). If price rejects that area again, we could see a major drop.
by jonjaytx
EURUSD Update 03/04/19- Daily Price has shown a strong rejection off of the overall trend. As an added bonus, there was a break of the counter trend. - 4H Price has broken Kijun and entered the cloud; Chikou right along with it. There are signs that the bearish momentum is continuing: - Kumo Twist - Price and Chikou below Kijun We could see a possible buy setup closer to 1.13000. - 1H This timeframe shows multiple selling opportunities when price came close to Kijun and bounced hard. We see a level of support formed around 1.13200 and price could continue up a little higher before dropping again.
by jonjaytx
EURJPY Update 03/04/19- Daily The daily candle closed bearish today rejecting the zone drawn around 127.500. JPY pairs across the board are appearing to have some bearish momentum. Some of my partners that look at other pairs saw similar findings on other JPY pairs. This looks like a solid railroad formation (tweezer top). We could see more from this pullback. - 4H We see a nice "M" formation in the rejection zone that signaled the move to the downside. Since overall trend of the short-term market is bullish, I would be looking for signs of reversal around the highlighted areas. These are also my TP points, and we can see TP1 (38.2) and TP2 (61.8) have been hit. There is current rejection off of the 61.8, but not one significant enough to engulf the previous bearish candle. I still think we could see a little more bearish momentum. -1H This timeframe confirms my findings on the higher. There are multiple signs of continued bearish momentum: - Dark Future - Price and Chikou below Kijun - Breakout to the downside of the Kumo Although these signals are not as strong as they would be on a higher timeframe, they still give slight foreshadowing of what can occur going into the next day; or at least the next few hours.
by jonjaytx
Outlook for EURUSD- Weekly EURUSD has been on a significant downtrend over the last year and continues. Price is below the cloud, so we could expect more bearish momentum. - Daily Price has bounced off of the bearish trend line and broken a bullish counter trend (4H). We can see that the area around 1.1250 is an area that has been tested multiple times. It could be a nice TP Zone for the sell. - 4H/1H Price has closed below Kijun multiple times, and shows more wicking off of the major trend line. Price has also broken and retested 1.13750. We could see price fall back and consolidate again around 1.13000 and 1.12500.
by jonjaytx
Outlook on EURJPY-Weekly EJ has been on a downtrend over the passed year. Lower Lows and Lower Highs. Price is below the Kumo which means we may be experiencing more down trending movement. The previous week ended with a strong bullish candle finding resistance at 127.500. With such a strong push we may see a push back to 130.000. - Daily Price has climbed back to the other side of the channel drawn. We are seeing bullish activity due to price being above Kumo and Kijun. However, Chikou is below the Kumo, and price is in at a key level of S/R. Depending on how today's candle closes, we may see a rejection back to 125.000, or a continuation to 130.000. - 4H/1H We see a strong rejection off of 127.500. Price could be heading back towards the downside. It's currently setting up for a nice sell, and we could see it come back to 126.250.
by jonjaytx
Possible Outlook for USDJPYWhat's good everyone? I'm trying something a little different these next few weeks. I'm only going to focus on UJ, EJ, and EU as my trading pairs to gain a solid understanding of these 3. So let's start with eveyone's bae, UJ! - Weekly Over the last couple of years price has been in forming a Bullish pennant pattern. Creating higher lows and finding resistance around 113.750 and 115.00. Price is currently sitting above Kumo, so we could expect more bullish movement. - Daily Price has broken a major trend line and has bounced off of the overall trend that was created on the weekly. Price has also broken 110.00 and it appears to be on its way to 112.500. - 4H/1H We could be looking for buy opportunities based off of the channel drawn. Price is currently sitting far away from the Kumo and Kijun. We could expect a pullback to Kijun, or 111.250, and a continuation of the uptrend. Depending on how price reacts at the top of channel we could see a possible selling opportunity.
by jonjaytx
Tell me I am Wrong about the Brits I wanted to verify my views on GBPJPY as to whether or not it is truly on the uptrend. I was high yesterday so I doubted my report yesterday. But with a sober mind I can say price action is definitely bullish. Price currently is on my green 38.2 fib, which is slightly above my orange 38.2 fib. Odds are if price does not move upward it will trend sideways. Price action is quite bullish. The next price goal is @145.000, but I see long term price action towards 145.500. Not only is it a major quarter point, but I have two fib levels that show confluence in that area. If price moves towards 144.000, then we must wait until further price action.
Long
by masterylucain
Australian Gold!After much analysis on USD, it is clear that the dollar is looking to correct. For more information view my article Down with the Dollar! On the four hour for AUDUSD, price is currently holding between my yellow fib level @61.8 and my white fib level @78.6. Price action over previous days was rather good. It was formerly on the major quarter point @0.725 and crashed through to its current level. As of now AUDUSD is on a downtrend. It seems like a reversal trend is forming but it is too early to tell. I set a green counter-trendline for if price breaks it, then bullish momentum is confirmed. On the other hand, if price breaks my 78.6 fib level @0.70122, then further downtrend is confirmed.
Long
by masterylucain
Uncle Sam Whipped by Nippon USDJPY forming a descending triangle on the four hour. Managed to hit large quarter point at 110, but each challenge led to higher lows consistent to the counter trendline. It seems like price action peaked above the 61.8 fib level, and no longer has bullish momentum. A reversal trend is imminent, most likely when price breaks below the blue line @109.819 If price does break below the blue line, then bears have taken over the trend and I will short until price reaches the orange zone. Orange zone: 109.5-109.6 Price goal: Fib level 78.6 (@109.385)
Short
by masterylucain
Queen of England is Too Good to be True It looks like fundamentally the Pound is simply at an all time low as seen in the monthly when reaching 1.2 on October 2016. Since then we have been on an overall uptrend. Despite the short term correction over the last year, the pound has regained support on large quarter point 1.3. On the weekly, the faster EMA trend has finally reached upward and connected with its slower counterpart signaling bullish momentum. If the pound breaks through the orange zone past 1.3, then the pound will correct further but will still stay above the upward bottom yellow trendline. But if the pound uses the orange zone as support, then the next projected price level is at the major quarter point 1.325. Currently the trend looks bullish and price will continue upwards. The blue area is a safe take profit zone, but bulls may take price towards following quarter point 1.35
Long
by masterylucain
Zone Hopping (ETH)Hi Team! Welcome to today's update on Ethereum. We've seen some signficant bearish price action in the last few days once we broke the wedge that was forming above the half quarter level of 150. Price dropped to the key support area at 116-120 and although it was respected... We are now seeing similar price action forming at the 125 quarter level. If we compare an equally measured move from what happened last time to what we might expect to see, the possibility of ETH revisiting 100 again is becoming greater with every day that passes. It's also important to note that the anticipated Constantinople update has been delayed due to a massive potential security flaw. I won't discount the possibility of a short lived bullish liquidity capture up towards our 38.2% fibonacci near the $140 price due to the nature of these volatile markets however my bias as of now remains with further bearish expectations for this particular asset. This analysis is not meant to constitute as financial advice, please use risk management and trade/invest at your own risk! Stay safe in these volatile markets friends, Z ~
BITFINEX:ETHUSD
by ZacharyHogan
Bearish Moves Are Still On The Table? (BTC)Hi Team! Welcome to today's update on the world of Bitcoin. We have seen quite a few flags forming recently and lots of respect of the 3750 quarter level with the price action that has happened. Although I will not count out the possibility of seeing a movement up to 3860-3900 as this is the liquidity capture scenario we looked at yesterday... it is becoming increasingly likely that we can expect to see a movement of price down to 3500! On the chart are a few trendlines that have been acting as reliable technical indicators as well as our zones of significance in relation to support and resistance. We have a large bearish candlestick from the previous week to consider and even though January 15's daily chart gave us a bullish engulfing candlestick... it was immediately met with resistance from sellers and the following day closed bearish. Cryptocurrency on a macro level is still in a bearish environment so if you're looking for opportunities - be mindful that there is still downside risk! This analysis is not meant to constitute as financial advice, please use risk management and trade/invest at your own risk! Stay safe in these volatile markets friends, Z ~
BITFINEX:BTCUSD
by ZacharyHogan
4
Bitcoin Daily Liquidity Capture (BTC)We can observe on the January 14 daily candlestick (which was also the start of a new weekly candlestick) a classic bullish engulfing pattern. Price is currently flagging and we could expect one more push up towards 3880-3900 before seeing the anticipated move towards the 3500 half quarter - to then see the next reaction of price. Depending on which side you choose to play, there are favourable scenarios for bulls and bears! Remember that trading involves risk and this is to be used for educational purposes only.
BITFINEX:BTCUSD
by ZacharyHogan