Brain storming the idea for longs on EurJpy.... Looks like big boys have trapped the bear move with fake BO to downside....if thats the case than we can expect longs from this level for time being. Although we need to be caution as some time big boys play real dirty & can do double trap by the mid week. Means, they make us go long from 141.40 handle & during...
AB=CD terminates @ 1.4740 handle along with good demand zone between 1.4840-1.4710 handle of h4 TF. The swing pattern analysis too suggest the long position. Stop LVL ordinarily should be below 1.4710 handle, but you can fine tune it with help of smaller TF entries, I prefer smaller TF entries as it favors very healthy R:R. One more thing which I dont want to see...
Final attempt for CadJpy longs (Long term trade) 1st Target 94 handle..... *Edit* Active in this trade now, entry 90.85, SL 90.45 - speculative position, if it behaves as I expect then I position for long term. Ignore, SL in chart thats too much, no need to risk more than 40 pips to know whether we are in right direction of not.
CadJpy is in good opportunity to ride the big wave.... I m going to target 98.500 handle. Till 90.800 low is not broken, my bias will be for north direction. But I dont want to keep my stops too wide, below that, I m going to try my longs from the marked LVL with stops market with red cross. If I get stopped out in this then I will wait & see price action to go in again.
Preferred direction down, keep fading the rise till 1.6740 is completely taken out to upside...Although I believe Eur will move down much faster than Gbp, but still Gbp has good structures as far as technicality is concern.
Certainly the idea should be to see the stall at the LVL 1.4560-50, if the price stalls then there is much like chance that it will bounce.
As of now till 0.8540 LVL is not taken out, some shorts are wise. 0.8540 important LVL, couple of resistance lining up at the same area. Be mindful of NFP news, if price reach 0.8540 LVL before NFP release & if I see any of bearish signal then I m going to pull the trigger with small position without minding NFP. Hopefully NFP will help our trade. If price reach...
This is good chance to sell this pair, any rally below 164.00 need to be sold with stops @ 164.15 I have already sold but still will add if it rallies again to 164.00 handle. Its yet again low risk high profit opportunity. Stops of 25 pips Target of 250 pips. ;-)
AudUsd.... tell me about your bias & preference on this pair.... I am long @ 0.9300 with SL 0.9265. Support on daily charting with big RN 0.9300. Untested supply at 0.9450-70, double bottom on h1 charting, yeah not so perfect but can be considered for small stop of 35 pips. Risk to Reward is very generous for this attempt. ;-)