I took a short at 118.70, Risk-Reward = 6.5 SL@ 119.10 (-40), TP@ 116.10 (+260) ____________________________________ what if: a. BOJ does not pressure on Yen b. ECB gives more uncertainty the next day and stocks tank, then Yen could sour and USD should fall before Davos - from technical point of view a pretty easy trade as there is a false breakout over...
Yesterday, broke the Support and lows as expected. because it fell below the low of 108.00, Note a wave of decline is larger. From the above, I put in my head larger rebound. in that case, Selling point is Resistance-B. If exceed there, there is room to Resistance-C. If rebound there, I waits for a short-term collapse. Also, I draw the Support-D in the...
Environmental recognition of current. Yesterday, was suppressed in "Resistance-A", fell to "Support-B". At this decline, movement of interest is a "Movement-I". In response to this movement, "Resistance-C" has occurred. In the short term, there is "Resistance-D". If exceeding here, I think that the probability of being suppressed by "109.14 / 15 ~...
look short on short-term,but I will change to "Long" by going higher. First, there is the fact that broke the push-lows. Are rising strongly momentum now, but can not be ignored the above facts. Currently, I judge that have been struck by Resistance Zone. Points buying on dips for this rising are two blue zones. if "A-Zone" was cracked , decline would...
New York Session Watch - #USDJPY USD/JPY has been squeezing all the way since yesterday and we have a triangle chart pattern showing up on this pair. The long term trend is still up as price is still way above the 200 period moving average. Tenken-sen and Kijun-sen are flat as are the shorter term moving averages due to this price squeeze. When the price breaks...
THIS IS A FOLLOW UP ON MY PREVIOUS POST. THIS IS MY PROJECTION FOR THIS PAIR FOR THE REST OF THE WEEK. IN MY FIRST POST I FAILED TO MENTION THE STRONG SUPPORT THAT EXIST AT 108.64 WHICH CAN CAUSE A SHORT REVERSAL BACK UP TO OPENING PRICE. KNOWING THIS CAN BE BENEFICIAL IN MANY WAYS. 1. IF YOU ARE ALREADY IN AN OPEN POSITION AND FEAR YOUR PROJECTION OF PRICE WAS...
THIS PAIR IS SHOWING STRONG DIVERGENCE BUT I'M CHOOSING TO IGNORE IT FOR NOW AND FOCUS ON THE STRUCTURE. ELLIOTT WAVE ANALYSIS PUT ME IN EXPECTATION OF ANOTHER MOVE UPWARD. MY PRIMARY FOCUS IS THE BROWN CHANNEL OF WHICH I'M AWAITING A CONFIRMATION OF A MOVE TO TOUCH MY LOWER CHANNEL AND POSSIBLE A CANDLE THAT WICK CLIMAX AT MY LOWER BROWN CHANNEL AND CLOSE ABOVE...
If you did not catch the trade from the completion of the pattern, the market is painting a beautiful head and shoulder that can provide a nice entry risk/reward. As usual, you would need to wait a bit for candle to confirm a further mover upwards. stop loss can be placed below at the D leg of the pattern but, i would rather place my stop just above the D leg at...
This is a very Short LONG position, The key is in the PRZ, and not being greedy. observe the price action in the PRZ and enter the trade according to it. Trade Carefully and Be a winner