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EURJPY Week review, Trading plan for a begining of the weekIndeterminate direction of price as no clear signs has been given by the last quarter's closure. Last Quarter's close is below 5MA what gives a bit more power to bearish signals We have a bearish chart pattern (Quarter) Price is currently at 50% Fibonacci retracement area in a relation to previous swing Down Will look for a bearish long-term entry setup (based on Quarter chart, using lower leverage and wider stops, this type of trade will be left open for up to a quarter) at around 133.75 Currently none of the major chart patterns appears on weekly chart Price is currently at 61.8% Fibonacci retracement area (Filtered to weeklyy timeframe) in a relation to Previous swing UP Will look for a bearish short term entry setup (based on weekly chart, this type of trade will be left open for a few days) at around 133.75 On a 1D chart we have a bearish chart pattern Price is currently at 61.8% Fibonacci retracement area (Filtered to 1D timeframe) in a relation to Previous swing UP Will look for a bearish short term entry setup (based on 1D chart, trade will be left for Hours, but position will be closed in parts and using a trailing technique, will try leave it open for a maximum period possible) at around 133.75 In conclusion, all the levels I mentioned are based on a current market activity, but everything can be changed within seconds, however based on a review that is done, I will be looking for a selling opportunities coming week.
Short
by Marenno
ES - QE KICKED THE CAN PATTERNPrice seems to making a very rare pattern on the ES Mini, where price action takes the shape of a shoe that is trying to kick prices higher. Similar to kicking the can down the road. Upside targets are T1 2152.25 and T2 2181.50 When this rare pattern forms, price usually is super choppy with no support or resistance holding from the top of the shoe to the bottom of the shoe. As price nears the tip of the shoe, price will have violent moves up and down after long sideways algo chop. Your feet could get calluses from all the algo choppy price action. To prevent calluses double up your socks :D If price trades it's T2 @ 2181.50 your foot has out grown the shoe where you should order a size large on your next purchase.
CME_MINI:ESM2015Long
by elp
EUR/GBP: Chart of the weekLast week chart: 2 WINS Profitable pullback ( I don't trade these pullbacks ) Profitable movement up ( I made 95 pips ) We had a bearish engulfing candle on the Weekly chart + finished on friday with a shooting star candle, that closed under the resistance level of 0.712. This all happended after a break of the previous TL ( which can now be seen as the CTL) , since we bounce now for a 3rd time of a new,validated downwards TL. I would like to see a test of the lows this upcoming week.
Short
by RBNonit
EURGBP The Bias Of The DayThe GBP had a 1.5%-1.8% rally today and it needs to retrace if it want's to keep up this upmove. Euro on the other hand has been going down (fx eurusd) and is looking like a potential long especially if the us unemployment is worse than expected. Currently I am expecting just a pullback to 0.236 fib level. Technically: The price is at a support level. And if you would squeeze the chart you could see that it is also a multiple fib confluence zone. The position: I haven't yet entered but if it the price reaches 0.7233 before retracing to approximately my target I will probably buy. Event risk: Economic calendar www.forextime.com
Long
by Wizard