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Drawback

SXP/USDT Update: Fully reached our >200% Target. SXP did very well the last month and gave us >200% gains. Hope you enjoyed the ride. After such a rally and looking at the bearish divergence (price action against volume) it looks like we get a drawback before we aim for 5$. Possible entry zone is shown with the box. Basic rules: - Never buy the top/ATH - Take profit as long as you can - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. Helplines: - Purple lines are trendlines we take a look at. - Yellow lines are for visual help only. Boxes: - Either entry zone or support zone. Check the description.
by tumbler55
EUR/USD Drawback Trade - Ichimoku ResistanceThis pair has been pushing up with a lot of the news coming out about China changing their peg back to yuan, as well as the downturn of the markets that we've had with the corona virus epidemic. We got a long wick right before the market closed last week which lines up with a kumo rejection on the daily chart. For this setup I'm looking at a drawback back down to test major price structure support. We've got a good tight stop above the wick from last week and a pretty good risk to reward ratio. If we fail form new lows to trigger a sell or if we end up forming a long wick support candle, then this setup may become invalidated.
Short
by The808Trader
1
Drawback Over? - USD/CAD Ichimoku Short Trade SetupThe setup levels should look familiar as they match a previous breakout setup we had for USD/CAD. I am looking for a rejection at this flat kumo level for a breakdown to major price structure support again. It looks like we are already starting to form a bearish move down and I'll want to see it sustained with our normal ichimoku bearish signs. If we fail to see a proper rejection here at the flat kumo level, or if the confirmations change to bullish, this setup may become invalidated. 
Short
by The808Trader
USD/JPY Long Chance - Ichimoku Buy OpportunityThis is a pretty simple drawback setup that I have my eye on going into this upcoming week. We've started to break tenkan sen support so I am looking for a drop down to kijun sen for a chance to get long. Usually I am looking for a good wick to form through kijun sen with the body of the candle closing above it, but I will be watching all price interaction in the case of a fall to support. We have a pretty good risk to reward ratio here and some price structure levels to aim for along the way. If we reach recent price structure highs, I will leave some of the position to run as long as there are bullish confirmations. If our confirmations change or we fail to get a good entry, this setup may become invalidated.
Long
by The808Trader