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USDJPY Possible Short Trade Hello Traders, today we would like to share with you the USDJPY as it seems that it may push lower. After the market pulled higher and held resistance around 112.00 as it turned south again. On its way to the downside, it might have created an S-H-S formation with a break of the trendline which may indicate lower prices. This may be first clues that a lower extend to the downside is possible. Looking at our Intermarket indications, which always gives us a clue about potential market capital flows, it seems that further outflow may follow as all of our indications look south with a tendency of staying for a little bit below the midlevel. However, the market may oscillate a little further around trendline break before potentially falling further to the downside due to massive outflow in the previous hours! We will wait for today’s close and see if potential trading opportunities occur. Let’s see. We will keep you updated!
Short
by secrets2trade
3
Correlation Trade To WatchKeep an eye on this correlation setup over the coming days and weeks. The correlation is falling apart between AUDCAD & NZDCAD as you can see in the box on the right. You will notice the left box, when the spread got to approximately 400 Pips the correlation began to return, handing those in the trade a great return. The spread is currently approximately 200 pips, we could see it widen over the coming days and weeks. One should be ready to take positions if we see the spread get to approximately 400 Pips.
Long
by unique4x
POSSIBLE SHORT for oilThe level you'd want to take a close look at is the 49.50 mark, short if you see a bearish signal. If Price goes UP and breaks through the +/- 51.00 mark (key resistance), then the +/- 60 level should be next. If price goes DOWN and breaks through the +/- 45.40 (key support), then it could go down to the 43's. Reasons for short: - RSI overbought. - Latest high was step 5 in Elliott wave - 0.618 fib level - Demand for oil isn't really meeting supply as oil producers are trying to benefit from a rise in prices.
FX_IDC:USDWTIShort
by Beerus
1
Looking for signal to short this bloody equity rally?I have a solution. Use the moving average 50 period low. Check the 4h chart on US30. Insert a 50 period moving average low. Insert support and resistance lines. You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong using this signal. In the current rally, the MA50 has acted as a support EVERY TIME (along with upward trend). A close below this line will be a good time to sell based in historical patterns. A close below the upward trending black support as well will confirm selling signal. We are approaching historical resistance and I'm expecting the price to fall below the MA50 soon - probably this week. The rally has taken many scalps. Don't be cannon fodder. Trade wisely. There are many fundamental reasons why this rally should end, I feel that this rally is purely technical.
FX:US30Short
by maccabean
2
Nice Correlation Trade Between GBPJPY & USDJPY Is Setting UpA nice correlation trade between GBPJPY and USDJPY is forming. The two pairs are currently trading with a spread of 550 Pips, the widest spread since the end of January. Our algorithm is giving a 79% chance of GBPJPY coming in and a 74% chance of USDJPY rising. With that said we will be going Short GBPJPY at market and Long USDJPY at market. NO STOP will be set, with correlation trades you need to set a mental stop based on your risk profile to your overall equity. These two pairs are +90% correlated BUT the volatility levels vary with GBPJPY being approximately twice as volatile as USDJPY. With that said you GBPJPY position size should be smaller than your USDJPY position size. Some traders may believe that Shorting GBPUSD is the same as taking the correlation position which we are recommending. Nothing can be further from the truth! Several reasons: 1) The correlation trade includes JPY and it's economy. How the U.S. economy reacts to the Japanese economy at times will differ from how the U.K. economy reacts to the Japanese economy. 2) The correlation trade greatly reduces directional risk. Either of our positions could work out for us to make money. We could be dead wrong on one pair while the other gives us a profit of more than the pair we are wrong with. 3) The GBPUSD position is all about directional risk, just like any time you place a trade in one single pair. Barring any strategy, indicator, algorithm, etc....a trader has 50/50 odds with a directional trade. NOT in a correlation trade! Here at Unique Forex we pride ourselves in being the World’s first “Virtual Forex Trading Floor” where we will turn ANYONE that trades with us into a profitable trader fir FREE! That’s right…for FREE! All you need to do is to fund your own trading account. Unique Forex has a team with 40+ years combined trading experience and with our proprietary algorithm we significantly enhance the trading experience. Utilizing the two, we are able to offer some of the most powerful research on an array of currency pairs. Here you will get all of our research on some of the more popular majors like the EURUSD, but if you would like to get access to the rest of our research head over to www.unique4xpro.com If you want to join our Virtual Trading Desk check out www.unique4xpro.com Also follow us on all of our social media: Twitter @unique4x Snapchat @uniqueforex Instagram @uniqueforex Tune in to our daily live market insight @ 4:30 p.m. EST on Periscope @unique4x
by unique4x