Looking at this possible set up for London open tomorrow or New York session.
This pair reacted nicely last week and dropped back down after taking the relative equal high, this time i am looking for it to push up and seek the liquidity from the external range above last weeks high in the market open tomorrow and reverse back for a Friday close to the week.
As you can see we have taken the highs of the week and are now towards the high of last month.
From here I would look for a Friday drop before we continue higher in to next week.
Every thing will need to be correct before I enter this trade as time and price will be key during the market sessions watching for a BOS and and an entry on the smaller TF.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
The pair has been bullish by obeying that trendline. However, I am eying to go short in the pair as well since the price had a rejection and made a strong bearish move from that marked zone earlier. The last two rejections suggests that it may end up producing a Double Top here. If the price makes a bearish breakout at the neckline, it may head towards the South as you have suggested here.
Looking at this possible set up for London open tomorrow.
This pair has currently climbed all the way up over the last few mouths and we have just come up to above where we were at in Dec 2016.
Now just because we have gone this high does not mean we will come all the way back down but I do think we will see a short term retracement over the next few days to correct the current move.
Now currently on the 1 hour we have broken structure to the down side, would be good to see a clear 4 hour break of structure for more confirmation.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
JPY has been weak across the board with some huge moves across the board on these pairs. But at some point there must be some form of correction.
For this I will be looking for a 4 hour rejection of the run up tomorrow London session. then setting up a sell going in to New York.
As you can see marked out on the daily timeframe I will be targeting 50% of the move up and we can see a red candle in the middle of all the green candles which is out of place and needs mitigating.
This trade idea is only short term as currently market structure is still very bullish and we will see a continuation on the up side so its important to take profit if you get in the trade before the market takes it back again.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
The pair has been heading towards the moon. It does not seem that the bear take over soon. However, the intraday buyers are to be careful to go long as well since the price has been overbought in some major charts.
Teetering on the edge of hitting 5Y highs, definitely be ready for a pull back.
Don’t think we’ll see the bears take over, but still - wouldn’t be longing right now.
