Hey DNB. Watch out on AUDUSD; pice is currently at a previous triple top obvious even on weekly chart.
Cheers
About the JPY pairs, are they just retracing or has momentum changed ?
Imho it’s hard to say right now. The up trend has been going for a while without retraces, so this is surely an option. However, checking it out with top down analysis, price on those pairs is right now at big round numbers and at critical MONTHLY S/R.
For a reversal, I’d like to see a bigger bearish sentiment (ie: huge rejection candle), cos right now PA confirmation is lacking.
Hope this helps
Getting deeper into this: EURJPY monthly chart
Check out confluence of Resistance and BRN
EURJPY daily chart: bearish PA entry signal was triggered today at the Monthly R shown above (and also here: it’s the red line)
This could be a good long term entry (probably) or justt a retracement, just manage the trade properly trailing it to find this out.
Too far from main resistance
How many of you people have gotten aboard the yen train? Or did the train leave the station without you?? I missed a few opportunities but I’ve got a long on NZD/JPY at the moment which is slowly creeping upwards.
I spotted this setup on gold I wanted to share, I think that this has the potential to break out upwards. The price is now closing on the bullish side of the mean value, price has been churning/consolidating away ie. the large indecision candle and two cascading Inside Days.
This sort of churning and indecision is a great precursor for a breakout, only interested in bullish breakouts because the moment and really the chart bias now is bullish at this present point in time.
Will be considering going long on the break of the Inside day, not placing an order until around london open to avoid any sneaky asian bull traps.
[QUOTE=DnB Price Action;444809]How many of you people have gotten aboard the yen train? Or did the train leave the station without you?? I missed a few opportunities but I’ve got a long on NZD/JPY at the moment which is slowly creeping upwards.
I spotted this setup on gold I wanted to share, I think that this has the potential to break out upwards. The price is now closing on the bullish side of the mean value, price has been churning/consolidating away ie. the large indecision candle and two cascading Inside Days.
This sort of churning and indecision is a great precursor for a breakout, only interested in bullish breakouts because the moment and really the chart bias now is bullish at this present point in time.
Will be considering going long on the break of the Inside day, not placing an order until around london open to avoid any sneaky asian bull traps.
hey dnb ,
on jan 17 u caught the euroyen train which is jumped around 240 pips and its also have 165 pips stop pips,i took that trade,but in november ,december really missed yen train cause of breakout in swiss session and asian session…
Hi there guys.
Just spotted this possible setup on GBP/AUD.
If you take a look from 07/2011 on weekly chart i think there’s a posssible inverted H&S in there.
Got orders at 1.49.
Cheers
I am glad I went short the N/J pair rather than E/J. The jerk around the German optimistic number would have killed me.
Nevertheless, it looks like retracements are over, judging by the chapes of 4h candles.
for the last 7 month of price action trading, first time got stoopped out…
This was an awesome setup, I played it with 50% entry, it worked right to the pip. this was a great confluence level to trade on:
Previous S and LCS that got tested and rejected and mean value and BRN.
This is the kind of trade I dont want to miss 
Today Yen pairs have given out some good distribution, resulting in great and fast trading opportunities!
I’d like to point about USDCAD situation: a 8 months trendline was yesterday aggressively broken on the up-side with a huge OB. I’d like to see the pair retracing back to the previous swing level noted on the chart to get a bullish opportunity. Price could also break through that area till 0.995 level - High confluence area with fibonacci. Mind also the round psycological number (1.0000).
Last but not least, notice the recent W formation dropping a double bottom
Let’s pay attention to these 3 key levels and see how PA turns out.
GBPCHF is also showing some aggresive rejection on top or R+TL with a good OB.
Today it broke down a weekly critical level, aretrace is expected, and could give us a touch entry or 50% entry on today’s candle to join the flow down.
for the last 7 month of price action trading, first time got stoopped out…
Yeah, it’s a shame that gold setup didn’t work out, that looking like it was gearing up for a bullish break, instead triggering us into a bull trap an stopping us out - I hate it when that happens, you can’t be right all the time.
I was looking at the oil chart yesterday and seen a similar setup…
This trend looks very intact and these double inside days look like a good opportunity to catch any further up movement.
Also today on the EURAUD, this Indecision candle which has formed under weekly support with price extended away from the mean value. If price breaks the low we could see a nice sell off as the market corrects itself.
