We are hitting a major resistance area around the 1.66300 level on the daily time frame. History of candlesticks show that this pair takes 2-3 days to begin to move. We will not cancel our trade prematurely and let it do its thing. Looking to hold this for 2-3 days. We have also near a 681 retracement level. Lets see what happens.
We have 2 huge white candlesticks near this down trend. These 2 candlesticks blend to form a hammer. We should see a higher move up.
We have a nice bullish engulfing candlestick over taking the 7 candle bars. We should see a huge break out and high potential upside from here.
We have 3 large body red candles. We have a dark cloud cover and bearish engulfing. Look for more downward pressure!
Potential long play on NZD/JPY. We are oversold on Stochastic. Also strong support at 85.840. Looking for an inside bar and a break out above 86.000
We are in a major downtrend in crude oil. We are also at the 0.764 retracement. Good area to short. Lets see where this goes.
Entry: 19.634 Stop loss: 19.792 Target profit: 19.015 Risk to reward; 1:3.8
Entry: 1.35860 Stop loss: 1.36018 Profit target: 1.35369 Risk to reward: 1:3.10
Entry: 0.91567 Stop loss: 0.91257 Target profit: 0.92453 Risk to reward: 1:2.9
Short entry: 0.91012 Stop loss: 0.91192 Target profit: 0.89813 Risk to reward: 1:6.7
Entry: 0.91748 Stop loss: 0.92132 Target profit: 0.89814 Risk reward: 1:5