today's technical analysis of Eur/Jpy is buy
1. Resistance Level:124.84
2. Resistance Level:124.95
3. Resistance Level: 125.06
1. Supporting Level: 124.54
2. Supporting Level: 124.43
3. Supporting Level: 124.32
Thread: Eur/Jpy
today's technical analysis of Eur/Jpy is buy
1. Resistance Level:124.84
2. Resistance Level:124.95
3. Resistance Level: 125.06
1. Supporting Level: 124.54
2. Supporting Level: 124.43
3. Supporting Level: 124.32
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302 (2019-01-23), Asif777 (2019-01-23), FA148P (2019-01-24), FM2127 (2019-01-23), FUN (2019-01-23), Karamatkhan (2019-01-23), PAK (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23), Unregistered (2), zahir123 (2019-01-23)
Such a beautiful overall price structure right now.
I've been tracking EJ like a hawk all week. I picked up 50 pips from the "minor" H&S break over night and then set two new shorts on the rebound. Price did indeed rebound and both new shorts were back filled perfectly.
Now, the larger structure shows us the right shoulder of the "major" H&S pattern. As it stands, price is at a cross roads. The initial bounce penetrated just back up thru the bearish fractal wedge and now has settled down and is creeping along the wedge to an area that should contain some inertia.
Scenario 1) Price breaks up thru the magnetic axis (MA) and tries to get back into the bullish fractal wedge. Possible, but would take a lot of energy to break through and close consistently above the MA
Scenario 2) Price just ranges into late morning New York session. I don't think this is plausible. Imho, we are at an inertial reaction zone. I believe Frankfurt/London will pop price 30 pips either way to establish the next line of defense.
Scenario 3) Price will run down to 130.9 thereby completing the "major" H&S pattern. Then potentially retest the MA before another leg down to 130.5 with one last possible leg down to pattern completion @ 129.77
Our stance is scenario 3 and are positioned accordingly.
Here's the updated look. The price harmony is really quite beautiful (geek alert)
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I haven't exactly look at EUR/JPY in great detail, but this fall might not be bearish sentiment. It could just be a pullback for more fuel up. GBP/JPY and EUR/JPY both held their support levels. Won't be surprised if EUR/JPY rallies from here to 133 level.
Just another plausible take, I'm on the sidelines for now.
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Indeed scenario #2 has played out quickly. H&S completes easily as price rips through our circular base line and then stops to the pip on the nearest relevant fractal line. Price as I type is resting right back at the baseline. All positions have been liquidated. Averaged about 50 pips per. It was a good trade and now I'm looking to capitalize on another potential wave down
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302 (2019-01-23), FA148P (2019-01-24), FM2127 (2019-01-23), FUN (2019-01-23), Hanif484 (2019-01-23), Karamatkhan (2019-01-23), PAK (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23), zahir123 (2019-01-23)
Eur/Jpy after breaking the Trendline showing strong signs of bearishness my trade is already locked in and a small hesitation could take place at 131.05 region. If it breaks through then we have great bear ride
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302 (2019-01-23), Asif777 (2019-01-23), FA148P (2019-01-24), FM2127 (2019-01-23), FUN (2019-01-23), Karamatkhan (2019-01-23), PAK (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23), zahir123 (2019-01-23)
Perfect H&S on the hourly.
Scenario 1) Price breaks above the circle midpoint to test the magnetic fulcrum. (sounds sexy). Sustained candle closes above the fulcrum would switch my bias back to long to 132.50-133.00. Would then be looking to get long on the back side of the fulcrum.
Scenario 2) Price breaks lower than the circle midpoint and races to H&S completion at 131.10. If so, I would be looking to add shorts on any bounces on the way back to 130
Cheerio and good luck.
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oh this pair does get love haha just not a big time poster here.
I like the current weakening of the strong bullish trend. the rounded top is providing solid evidence of a possible move lower. Last week we've jumped the start a little i guess. Now awaiting confirmation prior to entry. my confirmation would be a touch of the green trendline, when this line is close to getting hit, or does get hit but not crossed we have a high probability of a move lower.
That would provide a very good R:R and the possibility to increase position size with the same percentage of risk I feel comfortable to take (2% of my account to ). High probability trading
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FM2127 (2019-01-23), Hanif484 (2019-01-23), PAK (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
Nice, I hope it happen more soon, i started to close my long positions, i'm looking related markets like EUR/AUD, EUR/GBP, EUR/CAD... to looking for opportunities for sell, now is time to see the calendar
let's see what happens!
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Asif777 (2019-01-23), FM2127 (2019-01-23), PAK (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
i also short this pair Friday at 1,2933, hope it will fall by the open today, and in the night below 129, i think so.
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In short view M15 (today and tomorrow) my pivots points say that it will come corrections for both side keeping a small long, btw a reversal is very possible at the end. maybe will play with 130 level before see a reversal.
Summary:
RSI-TC - Corrections for both sides.
Avramis - Neutral trend or maybe the beginning of the reversal
Pivot points - Corrections for bothsides but keeping an small uptrend.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Hanif484 (2019-01-23), PAK (2019-01-23), PAK786 (2019-01-23), Tanveer333 (2019-01-23)
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