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Support_and_resistance

GBPJPY WEEKLY UPDATE 24/2 - 3/3Hi all Weekly recaps: The price of the GBPJPY has reached the 50% fibonacci level from the previous high of 172.129 and low of 155.350 following a breakout consolidation level (please see earlier post). GBP/JPY needs to hold above 161.802 until this week's market close in order to continue its upward movement. So, I expect that price will end the breakout pullback and begin a long position with 164.xx as the target. Let me know what you think In the comments! My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills. Thanks a lot for your support.
Long
by mytw0cents
2
EURUSD DAILY UPDATEHi all After the release of positive statistics for the CPI, we saw a rejection at the previous high on the H4 resistance level 1.07897 yesterday. In the daily chart, price rejection occurred several times prior to the level's 1.06952 breakout. Therefore, I will partially close at the support level of 1.06610. A break through the level of 1.06609 could terminate the upward HL and confirm the LH.If the 1.06609 level is broken, I see a drop to 1.06107. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Short
by mytw0cents
4
GBPUSD TRADE PLAN UPDATEhello all After a price pullback and breakout of H4 resistance following a breakout at level 1.195966, my plan was to short this trade because gravity tends to help traders earn minor profits most of the time. If the price can remain below the resistance level, I think there is further room to fall. good luck & cheers My trading strategy is not intended to be a signal service. It's a process of learning about market structure and sharpening my trading skills. Like, subscribe, and happy trading to everyone!
Short
by mytw0cents
2
GBPJPY WEEKLY TRADE PLANHi all GBP/JPY is currently breaking through the daily timeframe resistance level of 155.549. So, this retreat trade has 160.652 as its target. It may be good to hold swing positions if the price rejects the entry level and closes below the consolidation level. My trading strategy is not intended to be a signal service. It's a process of learning about market structure and sharpening my trading skills. Like, subscribe, and happy trading to everyone!
Short
by mytw0cents
1
GBPJPY WEEKLY UPDATE hi all I'm still slightly bullish on the GBP/JPY trade. I've hit sl and breakeven a few times and also missed a trade. Fundamentally, I believe the market is still buying phase and not a yen phase yet. Perhaps once there is a clear understanding of ufo, long yen will begin. hahahahhahahaha I am thus closely monitoring the gbp/jpy resistance level and waiting for the point at which I feel like taking a risk. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Long
by mytw0cents
2
EURUSD UPDATE H&SHi all EURUSD has been trending sharply for four months, from 0.953 to 1.103, so I'm still looking for a 50% retracement. After a strong 5 day bearish trend, I see a head and shoulders pattern in the 1 hour chart. So, as long as the eurusd does not pass and close above the head, I believe it will remain in a bearish trend. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all. cheers
Short
by mytw0cents
USDJPY DAILY UPDATE SLIGHTLY BULLISHhi all The USDJPY failed to break through support at 130.342 and rally higher, testing the previous high at 130.908. So I'm interested to see if the USD CPI can overcome the resistance level. If the resistance level is broken, I intend to remain long and target the next resistance level at 134.510. If USDJPY fails to break through previous resistance, it may fall back to new support at 130.342. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Long
by mytw0cents
USDJPY WEEKLY PLAN UPDATEHI all I was aiming for a 50% retracement between the high (151.946) and the low (127.220) The USDJPY is currently slightly bullish following a breakout from the consolidation area. which has a highest price of 132.908 and a lowest price of 130.570 My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all. cheers
Long
by mytw0cents
EURUSD WEEKLY TRADE UPDATEhello trader quick recap frm last week The euro-dollar is consolidating in a range between 1.09295 and 1.08350 before making fresh lows at 1.08022 and 1.11433, respectively, and finishing the week at level 1.07924 and breaking the uptrend stucture Currently, the euro-dollar is trading lower, and I expect a support at level 1.07119. Given that there have been numerous rejections at that level in the past, breaking the support level could push prices farther lower, all the way to 1.0629. My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities. Like and subscribe and happy trading to all
Short
by mytw0cents