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#JPYbasket bullish move confirmationsyesterday red candle was not only a retest to a broken bearish channel upper line, but also head and shoulder neckline. in addition to these two confluence we should be aware that JPY index suffers a lot through past month during rate hike cycle of central banks and fall massively like never before. But now that we have some confluences that we are close to end of rate hike cycle JPY has found some room to appreciate against other currencies and as a result in technical aspect we can see it had formed and broke bullish chart pattern and its no longer trading in bearish channel. with the look at the text book chart pattern target we can see that price can come all the way up to the oldest bearish channel midline and from there we should be looking for other confirmation and change in macro-economy.
FX:JPYBASKETLong
by mohemati
CADJPY: BULLISH Market Analysis! Watching for REVERSALHello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CADJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. Top Down Technical Analysis: The market approached on the previous swing low, double bottoming, correcting and losing momentum inside a falling wedge, usually a reversal pattern, especially during market conditions like this. In lower time frame as well, we can see few confluences confirming our bias, patterns within patterns and a sharp impulse of almost 200 pip breaking the structures to the upside. When, where and why would we step into the market? Considering the high probability to see a reversal scenario, counting the weakness of the market and bullish confluences, we will be looking for a potential long position if the market will confirm the next movement developing a correction for its previous bullish impulse. However, as always, we don’t exclude the possibility to see the price going deeper and lower, in that case, we won’t take any position until a clear price action in favor with our bias. If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias! Sincerely, Cybernetics Trading Lab DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose.
Long
by Cybernetics_tl
15
FOREX 101 - 4 TYPES OF LOT SIZES.What is a lot? A ‘lot’ is a measure of a transaction amount. It’s the minimum number of units of the base currency that you can buy or sell. This gives traders more control over the exposure per trade. There are four main types of Lot Sizes. Lot size #1: Standard lot = 100,000 units of base currency Risk per pip =$10 per pip Lot size #2: Mini-lot = 10,000 units of base currency Risk per pip = $1 per pip Lot size #3: Micro-lot = 1,000 units of base currency Risk per pip = $0.10 per pip Lot size #4: Nano-lot = 100 units of base currency Risk per pip = $0.01 per pip Did you find this helpful? Let me know in the comments so I can do more Forex 101 tips. Ask any trading questions too :) Trade well, live free. Timon MATI Trader
Education
by Timonrosso
2
#AUDCAD potential long term selling opportunitytake a look at where price currently is sitting on and the long term resistive cluster around price... price at the moment is testing a bearish weekly channel resistance line and also at weekly high which means if the downtrend in weekly scale wants to resume price cannot close above this high. although that price can whipsaw above it but it can't close above it. for taking a position depends on the kind of a trader you are say risk averse or risk seeking you may enter now or wait for a more and clear confirmation in lower timeframe. and perhaps waiting to see a shift in market structure or chart pattern formations. Also we can see a bearish divergence between price and RSI indicator in Daily time frame.
Short
by mohemati
#EURCHF bearish move possibility from 2 areaAs you can see in the chart bearish impulsive move followed by a corrective bullish move which shows price intention of moving lower after completing its corrective move. now in this case we need to be looking for an area where corrective move may end. for a bearish move to resume price need to take out enough liquidity in order to move down, as it can be seen in the chart 2 areas are close to price with enough liquidity resting above it. the closer is above the previous candle in the form of bearish engulfing and the further out area is a local top which formed in the bullish corrective move which price already test it twice and there are huge amount of liquidity there. For taking a position from any of these 2 areas you need to remember: that price need to tap into a area clearly. but unable to close above the area. also it is possible that price fail to reach the zone but to engage in a position it should fit your strategy.
Short
by mohemati
#USDCAD looking good for a sell4H bearish market structure as it can be seen in the chart, price just below an important structural point where price bounces up and down several times and shows that the area is important for traders. there are 2 areas that price can tap into and reject from, one of them is a local top in recent price bullish corrective move, price can take out liquidity from above it and then resume moving lower in impulsive move. or price can come all the way up to test 1H timeframe high. important notice for taking the position in area level 1 and 2 is: * price cannot close above the arrow, it is possible that price goes above the arrow but it should return immediately and close below it. * if price some how can manage to close above the 1H timeframe high then price short term bearish structure has shifted and therefor we can no longer looking for sell opportunities.
Short
by mohemati
4
#GBPCHF looking for a short-term buying opportunityprice 4H timeframe bullish structure move, followed by a lower timeframe bearish corrective move which brought price close to static support area and shows price intention of more upside move. for taking a buy position we need: 1- price tap into the supporting area 2- see some bullish move in form of engulfing candle which shows that buyers are in the market. 3- see clear shift in lower time frame market structure ( price failing to create lower low )
Long
by mohemati