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Structured

Eur/Jpy Short Eur/Jpy has broken overall uptrend structure on higher timeframes so dropping to the 2 hour time frame and measuring key levels with fibs isnt a bad idea. This past week the 114.000 level has been holding firm as a resistance point for this structure which happens to be our 50% retracement level for our last swing high. * Weekly resistance still stands firm at 115.000 * We can have a potential ABCD pattern if our fib key levels hold. My target is the 27% extention level as monthly support holds just below and the 161.8 extention level. Major confluence! HAPPY TRADING
by VisionFx
USDJPY long flag breakoutAfter todays breakout out of the bullish flag (in d1 chart too), we generate a bullish buying opportunity, which follows the general upwards trend of the USD/JPY. Since we are currently in a lightly overbought market (RSI close to 70) and after many big bullish candles in the last hours, we will be waiting for a small pullback to the level of about 122,85 which gives us support by previous lows and the upper band of the flag. Furthermore this gives us a high Risk Reward Ratio of 2,1! Target 1 is set at previous highs, you can decide wether to sell a part of your position to realize first profits or going all out for target 2. One could also enter the long position right now, but this would minimize our Risk Reward Ratio.
Long
by tonitrader
2
GER30/DAX short, reaching upper edge of flagDue to the insecure overall political situation in Europe, plunging chinese stocks and industrial metals, the testing of the upper channel edge and a relatively oversold market , we may see another breakdown at least to previous structure level of at least 10700. Another support zone at around 10600 marked with the thin green line may also indicate a potential reversal zone at around 10600 to 10700. As always, Stop-Loss is set right about previous structure highs, giving us a nice Risk Reward Ratio of 2,9. In long term view a decrease down to about the 10000 level is the maximum imaginable to me, because of huge resistance levels marked with the long green rectangle. This would theoretically give us an RRR of 5,17 but is not easy to predict in this by politics driven stock markets
FX:GER30Short
by tonitrader
GBPAUD 1H BEAR GARTLEY at [email protected] with Stops and Targets1. If price reaches the completion of this GARTLEY pattern I will sell. There are three structure highs close to the completion point of the pattern. 2. Stops will be placed above the highest point which is also the A point of the potential BULL BAT pattern. When several highs are close together the highest point often gets tested. 3. Target 1 is slightly above the A point of the GARTLEY pattern. 4. Target 2 is slightly above the 1.618 XA extension. This area had acted as resistance and support in the past. 5. Both stops are moved to breakeven at the 0.618 CD retracement . Target 2 stops are trailed using the DNC indicator once moved to breakeven.
Short
by orvilleawright