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GBPJPY Responding Well To Whole Numbers.On a daily time frame you can draw out an ascending channel that price has tested but not yet breached. Last week we had support targets set at the 150 level which price tested but did not break. Upon further review with this weeks open being at the support level can imply a certain level of strength. If we see a bounce off this level at the bottom of our channel price can move to our daily resistance level @153. An in depth analysis can strongly imply that the 151.5 level can give price action a hard time being tested 8x previously on a 4H time frame. If the 151.5 level holds we can see a retest of the 150 level once again. The question that we may answer this coming week is "Will price break the 150 barrier?" If so we can see strong bearish moves towards the 148 level of support. As you can see if price responds well to the analysis conducted it makes for a decent entry with a tweezers bottom and a higher low. This suggests a desirable bias that we may be moving towards the implied levels. Thank you for your attention. Please leave a constructive comment or like on this post if you found it helpful or entertaining. Happy Monday! Stay WINNING!
Long
by Alexkly
XLMBTC analysisThere is strong resistance, we are just entering it. If todays candle will close above this line, we can expect rising to blue rectangle. What can happend and mostly happens after overcoming these strong resitances is small correction. It can goes to blue level where red arrow is heading. If todays candle will close like it is now, we can expect slow rising. In case this price level would be reject (long wick up and smaller body than now), price can crash to closest blue level (again red arrow heading at the level) or we can even go lower to stronger level made by two blue lines in bottom of chart. (This can especially happen if the rally what happened last weeks was not purely organic but was hyped)
by fanda
UKOIL: Brent testing support off the old highs. Strong stillBrent Crude Oil UKOIL Brent recently broke the long term parallels that had carried it faithfully within its force ever since the lows at 44. Now it's almost exactly 50% higher, with a new high set at 65.70. We were short on the break below the parallel and then closed out around 61.15 for around 90 pips profit. Good thing we did. Bad thing we didn't go massively long again there with stops just below for a tiny loss if wrong at that point. Easy to say now, and we would have in 'normal' circumstances, but that big broken parallel above was stopping it from even being contemplated. What a shame. A parallel that had been so faithful for so long now let us down with a poor technical signal (in hindsight only, unfortunately) for the first time since inception from the lows. Sometimes even your best girl/boyfriend can let you down. The resulting 450 pip rally has blown every bear clean out of the water, creating a massive impulse wave which is contained within the parallels shown on the chart. It is now probing the intersection of the lower parallel with fixed support at 64.25, the old highs - it's a buy here with stops below 64.15 for small loss if wrong. It's a sell again when the upper parallel is tested . Brent remains strong whilst travelling within the impulse wave and only turns near term negative again for test of 63.03 if the lower smaller parallel is lost at any point from here. Until we see that happen, look to buy dips to this smaller parallel with stops below it by 15-20 pips
FX:UKOILLong
by sumastardon