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EURJPY gaining momentum in the box EURJPY has recently entered into a narrow daily range with solid support and resistance zone (also defined by 50 % fibonacci). However the range now shrinks and the ratio between daily positive and negative return oscilates around mid-level (check RSI). With that said and others technical factors considered like double bottom , broken corrective lines , bullish RSI , 50 % fibonacci level and long term EURJPY market structure the odds seem to be in favour of bulls-to-dominate market. One may point out the unfinished structure phase regarding the untouched solid red line. However this move is yet not complete, the setup still gives solid RRR to offset the risk of early entry. Keep your numbers green, Skål!
Long
by gatsby01
GBPJPY - 4-8 Oct Weekly PlanGBPJPY - 4-8 Oct Weekly Plan Monthly: With Sept close bearish below recent monthly support at 151 and Monthly resistance from April 2018 at 150.50, I would expect more down side continuing the current bearish pressure. Weekly: Previous weekly solid bearish close confirms the bearish pressure on GBPJPY and any pullback failing to create new high and get rejected from recent resistance. Looking for this weekly candle to have more to the down side continuing the previous week bearish momentum. A weekly close below 149 needed to confirm a solid bearish momentum and a deep fall is under the way. Daily: Bearish structure is respected every time we have a bounce from 149 with a LH formation which confirms the bearish momentum we are in since we reached yearly high at 156. A range is established and became clear on GBPJPY at 153 range high and 149/148.50 as range low. A break of that range needed to have a clear direction away from the current range that is shrinking every month. Friday daily close is solid bullish bouncing from 149 support, still early for looking for longs until we have a HH/HL formation on daily. Every bounce from support is for me an opportunity to look for shorts are resistance areas as long we don’t have a HH formation. News: No major news for GBP this week, some for JPY. But the main is NFP on Friday. So be cautious for moves prior to NFP day in preparation/anticipation/ repositioning of big players. Note: I was watching GBPUSD lately for correlation with GBPJPY, GBPUSD broken a HTF structure and looking now if it did hold below 1.36 for a deep move to the down side which I think it will be the trigger for GBPJPY for breaking 148.50 for a deep move. Daily Chart: GBPJPY
by Amr_Sadek
GBP/JPY CONTINUES TO STAND LOCKED IN A TRIANGLEAt this point in time, the most important thing to pay attention to is that the area between the ¥149 and the ¥150 level continues to be a major support level and is heavily defended including the 200-EMA. However, each successive high continues to get lower so it does make a certain amount of sense that we may see an attempt to break down below the ¥149 level given enough time. If the price breakthrough the major support zone between the ¥149 and the ¥150 level will kick off a major move to the downside that could send this currency pair all the way down towards the ¥148 level and possibly even that zone doesn’t hold the price it could reach the levels far away on South at ¥145 or ¥142. On the other side, if the price will turn around and take out the ¥152 level, then it is likely that we would see this market go looking towards the ¥153 level or higher the levels around ¥155 - ¥156. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
USD/CAD HIT THE KEY SUPPORT ZONE AND 200-EMA AGAINUSD/CAD traded slightly higher after it hit once again the key support zone between 1.2580 and 1.2600 and the price step again on 200-EMA. That said, the recovery stayed limited near 1.2711. Lately, the pair has been trading in a consolidative manner, and thus, the experts will refrain from confidently calling its next trending direction. In order to start examining the bearish case, traders would like to see a dip below that key support zone. This will confirm a forthcoming lower low and may initially target the 1.2533 zones. Another break, below 1.2490, could invite more bears into the game, who may drive the action towards the low of July 30th, at 1.2420, or the low from the beginning of July, at levels around 1.2300. On the upside, the traders would assess a bullish-case scenario when we see a recovery above the zone at 1.2710. This could set the stage for upside extensions towards the high of July 19th, at 1.2810, the break of which could extend the rally towards the peak of August 20th, at 1.2947. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
GBPJPY 19 - 24 Sept Outlook and Trade PlanGBPJPY 19 - 24 Sept Outlook and Trade Plan Structure: Weekly closed Solid Bearish Daily Solid Bearish LH/LL 4H Bearish (First break of bullish structure) Nothing major changed from last week outlook except that we managed to close below 151 after we formed HH last week but failed to hold the bullish structure and on Friday we had formed LH on 4H after retesting the broken structure. My Trade Opportunities: If we managed to respect the broken range low and price forms resistance below 151.20, i'll be comfort for shorts below 151.00 targeting the lows created any may be continuation. If we failed to stay below 151.20 and price start holding above, i'll stand aside till we clear and hold above 153 as price failed since July to close above. News: FOMC and GBP Rate decision week. So map your news times and try not to hold trades during news time. Wishing all a good trading week! GBPJPY
by Amr_Sadek
GBPJPY 13 - 17 Sept Outlook and Trade PlanGBPJPY 13 - 17 Sept Outlook and Trade Plan Structure: Weekly closed indecision in range Daily Bullish 4H Bullish We had formed HH on Friday, and currently we are retesting last 2 weeks range. My Trade Opportunities: If we managed to respect previous week range, I'll be comfort for longs above 152.20 targeting recent highs and possible continuation. If we failed to respect previous week range low, I'll be comfort with shorts on resistance formation below 151.40 putting in consideration 151 level as a critical level to watch reactions once reached. News: GBP is having very important news on Tuesday, Wednesday and Friday. So map news time on your chart. Wishing all a good trading week! 4H Chart: GBPJPY
by Amr_Sadek
Bitcoin peak for 2021 using FIB time ZoneIf you can watch Trader Genius and his video titled "Another indicator of the next Bitcoin top" What I did was I used the Fib Time Zone and plotted them using the RussianBear metrics and Low and behold came up with a date of December 26th for 2021 as a key date. Could December 26th be the next Bitcoin peak? I don't know but it is somewhat compelling and would make more sense to me given that all previous Bitcoin Peaks were on the month of December for 2013 and 2017. Could it not be that we will continue this trend into December 2021 for the 26th based on a Fibonacci time zone point? Let's see what happens. here is the video by Trader Genius www.youtube.com
BNC:BLXLong
by altcoinb
4
USD/CAD HIT ONCE AGAIN KEY SUPPORT ZONEUSD/CAD traded slightly higher yesterday after it hit once again the key support zone of 1.2580, clearly visible on a 4-hour chart. That said, the recovery stayed limited near 1.2630. Lately, the pair has been trading in a consolidative manner, and thus, investors will refrain from confidently calling its next trending direction. In order to start examining the bearish case, the experts would like to see a dip below that key support. This will confirm a forthcoming lower low and may initially target the 1.2533 zones. Another break, below 1.2490, could invite more bears into the game, who may drive the action towards the levels of 1.2426 or slightly on South to the key support and psychological zone at 1.2300. On the upside, the experts would assess a bullish-case scenario when they see a recovery above the high of August 27th, at around 1.2700. This could set the stage for upside extensions towards the high at 1.2787, the break of which could extend the rally towards the peak of August 20th, at 1.2950. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
GBPJPY 30 Aug - 3 Sept Outlook and Trade PlanIt's NFP Week!! 1- Monthly structure still holding bullish and bouncing from 148.50 level. We are having 3 bearish candles since reaching year high at 156. This causing GBPJPY any up move is treated as a pullback until we have a close above 153 for the bullish momentum continuation. 2- Weekly is ranging between 148.50/153.40 with previous weeks are showing bearish structure within the range. Until we have a close above 153, GBPJPY will be bearish and any up move will be treated as pullback. Previous week was bullish but failed to close above 151.50/67 which is previous support, a close above it can give a nice push to retest 153. 3- Daily structure still bearish after reaching yearly high with LL/LH formation. Last support formed looks to be a double bottom which pushed price to retest above 151 and barely closed above it. Friday push failed to close above the recent resistance at 151.40. Until we have a daily close above the recent resistance, another push to the down side will be in play. A close above 151.40 will give a nice push to retest 152 with consideration to 151.67 the Weekly and daily support level currently acting as resistance. I’ll be looking to the following: Long: a support formation above 151.40 targeting 151.67/152 Short: A close below 150.50 will confirm the bearish momentum continuation for a retest to 150/149.50 News: Its NFP week on Friday, so expect the unexpected till Friday GBP: Wednesday and Friday will have important news JPY: Monday and Tuesday will have important news
by Amr_Sadek