EURJPY - Short setup from this morningAs posted earlier today on my telegram (t.me) I'm currently short from just above 116 with targets at 115.500 followed by 115.
We see a bearish divergence together with structure and trend line coinciding. We do have a fibonacci 0.382 at 116 level aswell.
While posting this I see we're breaking the "V" low of the double top which gives us yet another signal.
Eurshort
EURJPY (1h) Double top, fibonacci, strong resistance - Short?Price put in a double top, failing to close above 38.2 fib of X - A. In conjunction with fibonacci, and the double top, we have a strong monthly support and resistance area which could help us with this short.
I see high probability in this one, I am not looking for extended target(s) this time. As we could, potentially, look at a bullish (temporary?) release from this bearish trend.
If we break and close above 118.400 we could be looking at a bullish rotation, as hinted above. And then - we adjust our prognosis and entries accordingly.
Lets see if this elevator goes to our floor!
EURJPY 1H - Continuing bearishPrice action has not yet told me to go long, and since there still are bearish signals to this I'm sticking to my initial target of 120.000.
So far we have managed to bag 150 pips during the last 7 days from this bearish fall.
Lets see if we can continue this pip-hunt, all the way to target!
Before I start to consider a bullish approach, I need to see a break and close outside falling trendline and above 122.000
EURJPY(1h) Short setup, continuing our decent.Continuing bearish outlook as a follow up on last weeks successful entry ()
Basing this on price action struggling to close above 121.350 - 0.382 fib of X-A
IF we break out above, we will possibly find another opportunity to get short around 121.800 - 122.0 area.
Final target - 120.000
EURUSD (4h) Short setup, decision point(?)Following up on last weeks successful prognosis ()
I now enter a short position, aiming for 1.0620 with first target at 1.0700.
This is could however be a decision point for entering a strong bullish move , but I use the double top forming at B (see historically strong point at Z) before we make that move upwards.
Tight stop loss on this one, as a break above could trigger the bullish move I just mentioned.
EURJPY (Daily) Bearish suggestionCompleted ABCD with close BELOW falling trendline.
Ive been eyeballing this area for some time. My targets are as shown on chart.
Lets see if we can pull some pipage out of this.
If, however, we break and close above I will look for long entry.
Entered at 122.279
Stops above previous high
EURUSD (4H) Taking a breather? Two interesting things.We have run into two different things here.
Firstly we have the 1.0700 psychological level where price seems to have found resistance.
Secondly, we have a 61.8% fibonacci retracement of Z to X.
Combined with these two we are currently in overbought condition.
I'm looking to profit from this breather with a rather tight/risky stop loss.
Time to start shorting again boysEURUSD has rallied to 1.07 on the back of strong USD data and a mildly hawkish Draghi.
Fundamentally this should be trading at 1.05 or below.
Even if Draghi raises rates, the rate differential between EU and USA will keep rising.
Short this baby and add to position if it gets to 1.0750, 1.08.
What's really driving USD at the moment10 year yields.
2.30% level has been very supportive.
Breakout of the wedge will mean uptrend will continue.
Fundamentally this is supported by higher term premia being demanded, and Chinese flight capital leaving the UST market.
I'm long USD and will add to my positions if 10 year yields really start to move a lot higher.
EURUSD (15min) Short setupBasing this setup on:
Violated support -signal
Violated trendline -signal
Structure resistance - adding to our entry
Trendline resistance - adding to our entry
0.618 fib retracement - adding to our entry
Moderately conservative target, above previous low - Trend continuation
EURJPY (60m) Short setupBasing this entry on the following clues:
ABCD completion
Double top with bearish divergence at D completion
Spinning top
Falling trendline just above double top and D completion
Previous support and resistance area
Psychological number 120.000
Target conservative 0,382 fib of C-D
Lets see how we do
EURJPY (15min) Short setup, brief analysisMy clues,
X-A 61.8% fibo reversal
1.618 fib extension
Overbought condition
Trend line resistance
We also have historical support and resistance zone within stop loss.
Target 1 - 0.382 fib of the leg
Target 2 - historical support and resistance zone, just above 0.618 fib of the leg.
If, however...
Plan B, if break and close above the falling trend line, I will look for opportunity to get long on this pair.
EURUSD (15min) Structure based - ShortOpportunity to get short with structure + fibo based entry.
We're running into previous support which could act as resistance. Adding to the case we're hitting 0.618 fib. Adding to our defense we also have falling trendline.
Targetting historical support level.
Lets see how we do.
EURUSD (15min) Short opportunityWe have a structured based opportunity to get short.
Overbought condition while hitting a clear structure zone which should act as resistance. As a parachute we also have a falling trendline which should protect our stop loss.
Decisive bearish candle acts as my signal to entry.
Target historical support level
EURUSD (1h) 2618 short opportunityWe have a double top followed by break of structure to the downside, followed by a retrace to 0.618 fib - which gives us an opportunity to get short with 2618 strategy.
I trade this setup without waiting for confirmation by, for example, engulfing. However, I put my entry higher than 0.618 to get better risk to reward.
Target just above a previous structure, and potential profit taking zone, see circle.
EURUSD SHORT with LONG Option 4hr Simple price action trade.
A Bounce off the Daily trendline, continuing the downtrend with a safety option for a long if price decides to break out of the daily downtrend.
Short entry just below the Daily trendline 1.06838
Long entry just above the previous swing high 1.07800
Waiting on another possible retest of the Daily trendline before short entry.
EURJPY Patterns forming 15min/60min1. Bearish bat formation which turned out a winner, but not before putting up a fight.
I entered this one since we also had a previously tested support and resistance area.
2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal. Not an optimal scenario for a bullish bat. However, patterns are patterns. Its up to you and your plan to decide whether or not to take this one.
3. Lovely, both bearish cypher and gartley completing at (almost) exact same level.
We also have bearish trendline as resistance previous structure as resistance.
Alternative.
Price action violates C-leg of #2 bat before plumming down, which leaves neither #3 completion or #2 completion.
Since #1 won I'm happy either way, but lets prepare ourselves just in case the race is on!
EURUSD 2618 in progress, Gartley in the workingsSee description on the chart.
As for the placement of stops and targets;
I see these two as completely different trades with each rule set.
Hopefully, we get filled with the gartley before taking both targets.
Alternatively, we shoot upwards, continuing our bullish journey. After all, we're in a bullish channel. :)