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USDJPY - Sellers to return FX:USDJPY OANDA:USDJPY FOREXCOM:USDJPY SAXO:USDJPY USDJPY - Intraday - We look to Sell at 108.10 (stop at 108.40) Levels close to the 61.8% pullback level of 107.60 found buyers. Buying posted in Asia. Price action has formed a bullish ending wedge formation. The trend of lower highs is located at 108.49. The rally has posted an exhaustion count on the intraday chart. The medium term bias is neutral. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 107.20 and 106.50 Resistance: 108.10 / 108.16 / 108.89 Support: 107.55 / 107.20 / 106.60- Intraday - We look to Sell at 108.10 (stop at 108.40) Levels close to the 61.8% pullback level of 107.60 found buyers. Buying posted in Asia. Price action has formed a bullish ending wedge formation. The trend of lower highs is located at 108.49. The rally has posted an exhaustion count on the intraday chart. The medium term bias is neutral. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 107.20 and 106.50 Resistance: 108.10 / 108.16 / 108.89 Support: 107.55 / 107.20 / 106.60
Short
by Signal_Centre
S&P Failed Breakout of Trading RangeIn a previous post I talked about this being a risky time to buy for a long term investment in the S&P , Emini, SPY , or MES . Despite what the media may want you to believe - this market is no longer in a strong bull trend. If it was, prices would break out strongly above previous highs. But what is happening instead? Prices go mostly sideways to down, signalling bull profit taking. This is because the strong bulls bought lower; they know what is happening. They do not want to buy high because the risk is too large and the probability is too low. This is also where strong bears start looking to sell and will scale in higher if they need to. They understand the probability is in their favor. What happens when both strong bulls and strong bears sell? Well, there is only one direction for the market to go.. The bulls who bought the all time high (last weeks close) are currently trapped. The bulls who bought the breakout on July 12th are also trapped on the daily chart . This is very similar to the Jan 22, and Sep 17 bull closes. Look and see what happened next. Sharp selloffs as the bulls exit in a panic. It took months for prices to get back to a level where they could get out at break even, and they had to sit through a long enduring pullback in order to avoid a loss. Furthermore they risked money to essentially break even, which is extremely dangerous. This is what is known as the "thank you god price." Where those bulls are thankful just to get out without a significant loss. If this week closes as a bear bar, it will be a bear setup for a wedge reversal and failed bull breakout of a trading range. If it fails, and there is another new all time high, the bears will likely try for a second entry in the coming weeks. In either case, the bulls only have a 40% chance of a strong bull rally and measured move up based on the trading range. The bears have a 60% chance of two legs sideways to down and a test of the middle of the current trading range, or the bottom of the trading range around 2400. If you found this helpful please like! Feel free to comment or ask questions. See more at my website on how to learn to identify probabilities, create an edge, and develop your traders mentality.
CME_MINI:ES1!
by tradersmentality
2
EURUSD 50/50 market Tight Trading Range Continues The bulls reversed the market up in two small legs (Jun 3, Jun 24) from the nested wedge bottom. Last week formed a second entry for a potential larger second leg up where the Jun 24 rally is the first. However this has not yet triggered and today is currently a bear bar near the low of last week. If this week closes as a bear bar, it will be a weaker buy setup and decrease the probability. The bulls did not get strong consecutive bars. Instead prices mostly overlapped with heavy two sided trading. This is not indicative of a strong new low. The probability remains unchanged in a 50/50 market. Any breakout up or down is likely to get sucked back before succeeding. Until there is a breakout, there is no breakout and neither side is in control. The bears may end up getting a larger third leg down comparable to the 24 Sep - Nov 12 and Jan 7 - May 20 legs. This would form a larger wedge bull flag and increase the probability to 60% for a test of the start of the bear channel around the Sep 24 high. If you found this helpful please like! Feel free to comment or ask questions. See more at my website on how to learn to identify probabilities, create an edge, and develop your traders mentality.
by tradersmentality
USDJPY – Moving lower in an AB=CD formation FX:USDJPY OANDA:USDJPY FOREXCOM:USDJPY SAXO:USDJPY USDJPY - Intraday - We look to Sell at 108.00 (stop at 108.30) Posted Mixed Daily results for the last 3 days. Selling posted in Asia. Previous support level of 107.81 broken. The AB=CD formation target is located at 107.20. We have a 78.6% Fibonacci pullback level of 107.24 from 106.77 to 108.99. There is scope for mild buying at the open but gains should be limited. Our profit targets will be 107.25 and 107.00 Resistance: 108.00 / 108.10 / 108.92 Support: 107.62 / 107.25 / 106.77
Short
by Signal_Centre
EUR/USD - A LITTLE UPDATE TO THE LAST POST - BIAS STILL BEARISHSo on yesterday's post we covered the Daily chart and this just serves as a little update. We have bounced as anticipated (see yesterday's idea) and we are headed towards the top of the A leg. However, there is always the probability that we won't head all the way up to that point and we could just start dropping from the new structure level highlighted just below the primary zone so keep that in mind as well The final target remains down at the 1.1120s Stay tuned for further updates! **THIS IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY FORM OF TRADING/INVESTMENT ADVICE.
Short
by Aqua_Trader
2
4H FAILED ATTEMPT - SCALING UP TO THE DAILY STRUCTUREThe last EUR/USD idea on the 4H didn't work out as expected and upon switching to the D timeframe the patterns become a little clearer. We can clearly see a strong impulse to the downside and we are now in a consolidation phase which in my opinion will be developing in a zig-zag or flat correction according to Wave Correction types. Anticipating the C leg up to the A leg before we come crushing down. Stay tuned for the updates. **THIS IS MY PERSONAL OPINION AND NOT A RECOMMENDATION TO TRADE.
Short
by Aqua_Trader
EURGBP – barrage of support seen close to 0.8965FX:EURGBP OANDA:EURGBP FOREXCOM:EURGBP SAXO:EURGBP EURGBP - Intraday - We look to Buy at 0.8965 (stop at 0.8940) The trend of lower highs is located at 0.9030. Selling pressure from 0.9051 resulted in all the initial daily gains being overturned. Bespoke support is located at 0.8965. The 261.8% Fibonacci extension is located at 0.8956 from 0.9051 to 0.9015. Preferred trade is to buy on dips. The medium term bias is neutral. Our profit targets will be 0.9015 and 0.9030 Resistance: 0.9030 / 0.9051 / 0.9100 Support: 0.8965 / 0.8956 / 0.8940
Long
by Signal_Centre
EURNZD - Head and shoulders top in place.DAY TRADE - Expires at 9pm Trade Idea A bearish Head and Shoulders has formed. A break of the neckline is required to confirm the formation. The measured move target is 1.6300. Negative overnight flows lead to an expectation of a weaker open this morning. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6800, resulting in improved risk/reward. We look to Sell at 1.6800 Stop: 1.6850 Target 1: 1.6675 Target 2: 1.660
Short
by Signal_Centre
XAUUSD is in Horizontal channels.XAUUSD is in Horizontal channels XAUUSD Following Horizontal channels in that there is a small symmetrical we need to wait until they out the level. Horizontal channels are trendlines that connect variable pivot highs and lows to show the price contained between the upper line of resistance and lower line of support. A horizontal channel is also known as a price range or sideways trend. Note: This is only for Educational Purpose this is not Investment advice. Please support the setup with your likes, comments and by following on Trading View. Share Our Chart on All Social Media. Thanks Adil Khan
OANDA:XAUUSDLong
by Make_Money_Guru_Bitcoin
5