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Breakandretest

GJ 120 pips Sells BreakdownPrice broke below the support we highlighted, however as there was no lower wick on the 1h breakout candle, price had no clear range to move down, so instead of moving to the lower timeframes to look for selling confirmations, I stayed on the 1h timeframe and decided to look for a break and retest setup, as it was not on a lower timeframe my confidence for this trade was pretty good. As soon as we tapped into the broken support zone, I took an entry with half of my usual risk, stops were above the previous candle and my TP was highlighted on the chart. Profits were taken at each of the support zones as we tapped into them, this lowered our risk and secured profits. When we hit our final target, we removed our TP and let 10% of the trade run, the target for this was 135.887, as this was a possible rejection zone and also 120 pips profit. This target was also hit before price formed support to continue back up.
Education
by rhf_fx
Eurusd shortIf you take a look at EU on the smaller time frames you will notice a head and shoulders pattern that is playing out quite well. Right now the head and shoulders pattern looks to be retesting the neckline as the markets came to a close. On our higher time frames you’ll notice the daily candle has broken the low of the previous candle. On top of all that its at a retest level as well as a 61.8 fib level that so far is being respected. I believe if the next daily candle rides down to break the current 1D candle we should see a huge sell off.
Short
by Jblakeney3
AUDJPY BIAS We got price holding at weekly demand i had drawn up ( green zone ) and is creating support as you can see on the 1 hr timeframe and the 30 minute timeframe as well .Price can either break demand retest and follow through or reject and go to the upside , from what i see im leaning towards the idea of price going towards the upside BUT , you can never be to sure , only take the clues and hints the markets give you and never pull the trigger unless your 100% sure of the outcome ! , Happy trading everyone :) This is merely MY outlook and not advice on what YOU should do just my opinion on what I see
by yonsfx
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