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Kingscrown

Kings Crown Short Idea USD/JPYLooks to me like a BEARish crown on the daily USD/JPY Chart Fundamental note: Based on the weakening of the US dollar through inflation. Real Yields are currently negative. Technical note: 5 Rules of a Bearish Kings Crown: 1-Market breaks up trendline 2-Market takes out a major support for a lower low 3-Mark the B high of the uptrend - for potential entry confrimation 4-Enter at a counter trend line break to the south, with targets at your FIB extensions 5-Create your new down trend line Aslo seeing a shift (death cross) of the 5-13 EMAs to confirm Bearish market. "GPS" zoom in for tighter entries on smaller time frames, keeping the same targets. Risk no more than 2% of account per trade Set alerts at support and/or reversal zones to take partials. Roll stops at 50% level to Break even position. Let ride and collect profit likely 1-3 weeks Learn to earn project. Blessup
Short
by spirochill
CADJPY Short Potential Kings Crown PatternCADJPY: Potential Kings Crown Pattern. CAD currency is impacted primarily by oil prices. JPY- Safehaven Yesterday OPEC ( Organization of the Petroleum Exporting Countries) Stated 2021 forecast OECD stocks to be 70 million barrels below average, relative to 20 million barrels below average in the previous estimate. Throughout the second half of 2021, OPEC+ expects commercial oil stocks to dip below the 2015-2019 level Other News Events Today there are Financial meetings in Canada Tomorrow Core Retail Sales Numbers will be released at 8:30am If these numbers come in below expectations, there could be a negative impact on the CAD currency pairs. Technicals: Daily B Boundary has formed and price gave a shallow retracement. Price could not break through the daily resistance level ( Red) at 88.200, but this move up to retest the resistance zone, created a higher high. After the rejection off of the 88.200 level, price pushed back down to the 23.6 level, which took out the previous low. Price rejected off the 23.6 level and is headed back to retest the 4hr resistance level ( purple). If this 4hr resistance level holds and the price breaks the trendline on the 1hr chart, we could see the price move down to the Daily 38.2 level to complete the Kings Crown Pattern. ** NOTE: Price could move all the way back up to the Daily resistance zone before making its move down. If the price breaks the Daily resistance level, I will re-evaluate at the 1.18/1.27 extension level for a possible 80/20 play.** Always remember to follow the rules of your trading plan.
Short
by TheForexTraderoom
USDJPY King's Crown Sell SignalWe have a right tip confirmation for King's crown bear signal. We have created a new low on October 2nd (yellow circle) and price moved up to hit the right tip. Expecting price to fall down now as we are also at the downtrend line area. Indicators: 1. New low created (yellow dot) 2. RSI on daily and 4 hr in strong sell zone. 3. Right tip created. Entry @ current price of 105.65 TP 1 @ 105.00 TP 2 @ 104.75 Good luck trading! Charles V CVFXmanagement.com Trading made Simple
Short
by cvfxwealth
2
GBPNZD King's Crown - Signal up 600 Pips!See past trade analysis on GBPNZD, this fell down perfectly as predicted (technicals always win). We have passed TP 1 @ 600 pips profit. TP 2 we will hit for sure, but look for a retest at 1.9400-1.9460 before selling downwards for 200+ pips opportunity. Don't sell now, be patient and wait for the retrace. Every move always has a retrace so wait until you have a very good entry. Still lots of opportunity on this one! Good luck! Charles V www.cvfxmanagement.com Trading made Simple
Short
by cvfxwealth
NZDCAD Sell Update - King's CrownNZDCAD in King's Crown Formation on daily AND 4hr chart. This has been slow moving but worth the patience. Indicators: 1. RSI in strong sell zone in Daily and 4hr timeframe. 2. Right Tip formed both on Daily and 4hrs 3. Bearish candlestick close on daily and 4hr below right tip. Entry: Look to enter at current price area of 0.8780. TP @ 0.8587 area Good luck trading. Let me know how I can help. Charles V www.cvfxmanagement.com Trading made simple
Short
by cvfxwealth