GBPJPY crab bearish crab is developing.
fibo cluster, price action resistance zone and crab completion.
RSI overbought condition.
1hour
GBP/JPY DOUBLE TOP FORMING ON 1HR TIME FRAME?GBP/JPY IS APPROACHING SIGNIFICANT RESISTANCE AT 194.59, OFFERING A LOW RISK SHORT TRADE AS A DOUBLE TOP MAY POTENTIALLY FORM.
PRICE ACTION PREVIOUSLY SUGGESTED THE 194.59 LEVEL WAS PROTECTED BY SELLERS, A REJECTION OF R1 AGAIN EXPOSES THE DOWNSIDE OF 190.97 (S1) - A BREAK OF THE SHORT TERM TRENDLINE THAT HAS FORMED WOULD ADD EXTRA CONFIRMATION OF FURTHER SELLING.
S1 OFFERS A GOOD PROFIT TAKING AREA AS IT IS THE 0.382 RETRACE OF THE ORIGINAL 185.00 (S3) SWING LOW AND THE 194.50 SWING HIGH (R1), A BREAK OF THIS LEVEL WOULD EXPOSE 189.20's.
THE 150 DAY MA HAS BEEN ACTING AS SHORT TERM SUPPORT FOR THE PAIR, A BREAK OF THE 150 MA, AND A CROSSOVER OF THE MA'S WOULD ADD FURTHER CONFIRMATION OF SHORT TERM SELLING. CURRENTLY THE SHORT TERM 16 DAY MA IS POINTING TO THE DOWNSIDE.
ORDERS ARE BEST PLACED JUST BELOW R1 AT 194.41, IF PRICE REVERSES PRIOR TO THIS LEVEL ENTRIES CAN BE MOVED TO THE AREA OF THE TRENDLINE BREAK - STOPS CAN REMAIN ABOVE R1.
SAFE TRADING.
EURUSD 1H BULL BAT at Structure Low 1.114xx with Stop and Target1. If price reaches the completion of this BAT pattern I will wait for a reaction (Engulfing bullish candle, Tweezer bottom, etc) within the PRZ. This entry zone has acted as support in the past. It is also at a 1.272 fib inversion.
2. Stop is placed at the 1.13 fib extension of the XA leg.
3. Target 1 is below the 38.2 retracement of the larger down move and slightly below the A point of the BAT pattern.
4. Target 2 is slightly above the 50% retracement of the larger move down. This area had acted as resistance in the past.
5. Both stops are moved to breakeven when target 1 is hit. Target 2 stops are trailed using the DNC indicator once moved to breakeven.
EURUSD / 1HR / POTENTIAL STRUCTURE SHORT (VIDEO)TRADE IDEA VIDEO Can be viewed @ starprosper.com
This trade idea is based on the fundamental news
and is not to be taken on a literal sense.
This is my trade that I'm willing to take based on
Technical analysis and what's happening within
the economy and sentiment.
To view my entire trades, please view the latest
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I post trading videos daily and look forward to
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Star Prosper
Philip Stewart
Breaking the uptrend channel and test the Pivot area...It is possible, before we reach the target of bat pattern mentioned above on Daily chart, that we can see the price to go test Pivot Zone.
For this to happen, the price must break the channel.
Let's see how many times will need to test or if it breaks down the area, or a continuation of upward movement to Bat Pattern target Point D.
USDCAD Long position after breaking falling wedgeUSDCAD had formation of Falling Wedge break which is a bullish indicator. Ultimately the goal and target will be 1.2815 being that the definition of falling wedge pattern consists that after break your target will be where the trend begins also ends up being a double top pattern. Along the path are market TP area's at different Supply zones. EP at 1.2470 with SL at 1.2430 a pivot below.
Possible #AUDUSD 1 Hour Bullish Counter Trend Opportunity@TradeYodha
TradeYodha.com
Possible AUDUSD 1 Hour Bullish Counter Trend Opportunity
1. Retracement to 38.2 and 61.8 levels
2. Previous structure at targets
2. 50 SMA and 200 SMA around 2 targets
3. Price currently consolidating in a range
4. RSI is not oversold or overbought so wait for the confirmation
Plan your battle well in advance and win.
(Just my ideas, do you own analysis)
