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USDJPY short W1: We are in an impulsive move after the retracement of an uptrend D1: We have an inverted H&S at a psychological level (112.00) which is also a strong Sup/Rez zone H4: We can clearly see a couple of Shooting stars/Hanging man candlesticks which mean that price is retesting the zone but never closing above it So my view is that price will go down till Fib 61.80% level which is also a previous support zone plus keeping in mind that it is a confluent zone between: (a lot of confluence) -Fib 61.80% -D1 trendline -W1 trendline -previously tested support zone
Short
by YerwantKansabedian
1
EURUSD: Interesting moves scattered aroundEURUSD has presented different opportunities and conflicting signals. 'Everybody' wants to know which way it is going. This is the wrong question. In this screencast I show different opportunities relative to trends on different time frames. Where price is going, depends heavily on which time frame trend you're stalking - and whether you'r willing to take a controlled loss on that time frame (alias stop-loss). As I do not work with a 'predictions' model, I simply cannot predict where price is going or any targets. My personal bias was for price on 1D time frame to move south. But now the evidence on the charts confront me. It is also probable that a lower time frame trend could eventually move the bigger time frames north. This is how big trend get reversed - it just makes sense. The way I see it is that all traders exploit trends - by some methodology. The trick - which is not easy - is controlling loss, extracting the money and running like hell! :) To be clear this post is not a recommendation to take any particular position.
by Captain_Walker