1:1 RISK REWARD. 60 pips TARGET AT 1.618 FIB EXTENSION.
GBPUSD BREAKDOWN: This pair has respected a major ascending trendline, creating a new Higher Low on the weekly chart. My market prediction is for this pair to create a new Higher High. At a previous level of support earlier in march at 1.38300 (500 pip target).
Could we tap into the 149.740 level to make a new higher high?
USD/JPY - 15th of October 2017 - Weekly shooting star. - Daily MA break below MA cross overs. - Hourly 0.5 retracement + 0.382 tested with 4 pin bars + 8 MA respected. First target is the Daily support at 111.480. Then I'm anticipating another retracement to the previous swing low before going to my next potential support target - creating a new swing low at 111.256.
0.90000 upside target. 33.4 target.
Short bias analysis. I'm currently in two trades in place. Longterm downside target @ 1.14500.
I've been watching this pair along side GBP/JPY, with hope of riding the wave down for these pairs to create their new higher lows. GJ has broken me this week, giving me so many false hopes which as led me to damage my practice capital, I have £20 now lol. But I'm not broken that much, improvements and change will come, As for this pair, I can see multiple...
CONFLUENCE BACKTEST • Clear down trend. • 10 MA broken. • Previous support broken and retested. • Stochastic crossover + overbought.
From the daily chart We can see that this pair has been on a bearish move for a while and has rallied before continuing its momentum down. Currently, its retracing once again before it potentially continues its momentum downwards to my weekly support zone at 1.19226. It's currently hovering at the 38.2% level however I believe it will retrace to the 50% level...
This is my 4hr chart breakdown for USD/CAD. From the daily chart We can see that this pair has been on a bearish move for a while and has rallied before continuing its momentum down. Currently, its retracing once again before it potentially continues its momentum downwards to my weekly support zone at 1.19226. It's currently hovering at the 38.2% level however...
Shitty trading view saying I'm not typing in the English language so I can't be asked to paste my analysis on here lol But basically based on price action and structure, the price may retrace to the previous support level which is a 50 % retracement level. It may also retrace to 61.8% which it has respected and have not broken. My target is at previous support...
My outlook for this pair is bullish, my bias is for this pair to hit 155.000 which is over 300 pips from my entry, which will regain back my losses and also have profit in the bag. I'm keeping an eye on the stop because I've learnt that GBP/JPY is known for its violent spikes which can take me out. I hope to find another entry position on a pull back on the...
Analysis release later.
Will this pair hit it's monthly support target?