EU has been in an uptrend for a while on the H4 timeframe for a while now
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With support currently holding, it seems like we may get another move upwards to the daily structure areas
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I set buy stops above the previous candle highs to catch upwards momentum with targets set around 50 pips away
Bullish run has trickled back up to the higher timeframe structures
I think if we see a strong rejection here we will fall back down to at least the next significant daily levels
GBP/JPY
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Buy
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Buy Stop Setup
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Bullish momentum on higher timeframes
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Previous resistance level broken with a close above
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Price wicked down and closed above the resistance level to create a new support
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For a reduced risk entry, I set a buy stop in order to catch bullish momentum, should it continue
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TP set at next area of structure where price may have...
GU has been on a steady downtrend for a while now and it has broken a significant support level. This means theres could be more downside potential to the next significant structure level. The trade is running nicely in profit currently but I personally believe that there is more downside to come on Monday market open. Lets see how it pans out folks!
GJ has been in a steady up trend for a week or two now and has once again managed to climb higher come market open. Support is still holding on the 30min timeframe and I am looking to buy this pair until the last significant highs and leave a runner with a trailed SL too.
USD/JPY
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Buy
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Market execution
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A significant support level has been held historically and held once more
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Price began to breakout of the ranging price action while creating higher highs and higher lows
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After seeing a retest of the previous highs and a bullish close above the previous candles, I took a market execution
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Targets set as per swing analysis
This pair has reached a significant daily support region and has created an ascending channel in a corrective fashion. This confluence along with the double top and rejection made me set a sell stop to catch the downwards momentum
Would love to hear peoples thoughts on this as always and happy trading folks!
JRonaldTrading
Upon missing the original impulsive move, an opportunity to scale in on a bullish move has appeared
We can see a descending channel which has had 3 touches to validate the pattern
A strong support level has also been formed here with some bullish pressure coming back in
With this confluence, I set a buy stop on the smaller timeframes to catch the upwards...
Higher timeframes are showing EU in an ascending channel pattern
Price has consistently pushed upwards and has recently interacted with the channel high parameters
Following this trend line bounce, we have seen the previous lows broken cleanly on the micro timeframes
If we get a solid close below, I would be looking at trying to get a scalp type entry with a...
We have seen USD/CHF in a clean downwards channel recently with no sign of a reversal. However, we are approaching a strong demand area which has been quite significant in holding previous support.
Although price has broken below the structure, I am seeing this as a mere extension of price in order to catch sellers out before a rejection and a move upwards to...
We are seeing a corrective channel on this pair currently, with ascending price acting quite correctively
I can personally see a small move up before an overall bearish impulse to bottom of channel starting point
Confluence for this setup are as follows:
- ascending channel in the form of a correction
- pattern separation within the larger timeframe structure,...
EUR/JPY has been riding some corrective waves recently on its way to the outer boundaries of higher timeframe structure. I decided to take a short term buy in order to ride the shorter term move in preparation for bigger things.
Some confluence for me is as follows:
- corrective structure in the form of an ascending channel, interacting with higher timeframe...
AUD/JPY Selling opportunities presenting itself on this pair with a larger timeframe corrective channel. By using the three touch method, we can project some exhaustion before a move downwards.
A few points of confluence are as follows:
- corrective nature which has happened historically
- three touch method at channel highs
- previous area of market structure...
After a long period of corrective price action in the form of an ascending channel, we can see price is approaching a high value area on the larger timeframe structure. With a little more development, we may see price momentum slow down further for a move to the downside. Personally I’ll be looking for shorting opportunities in the form of a sell stop below...
After testing the neckline of the previous double top structure, as well as a previous resistive zone, we see rejections becoming apparent on the Lower timeframes. Could we see a move down to the lows of the larger timeframe descending channel? Maybe
