Daily Harmonic Made the higher high and broke previous struture retraced deep (90%) and made a new higher low now price is breaking out of the higher low and should atleast equal previous high.
In terms of the ratio and risk this is very good. DXY looks very choppy and there are high impact news which may make or break this trade.. 26 pips for 140-200 in return is a risk i'd like to take though :P , same with EU Uptrend on daily, and its a ranging channel albeit its bullish.
Price clearly breaking to the upside, DXY falling. Look for a retrace to catch this move!
Explanation is on chart!
Great buy as of now, broke structure, strong price action.. 2 tp targets, 1 is previous high the other is as indicated.
Deep retracement of this pair.. I would first see how it reacts to this level on a lower time frame before i commit to any buys.. There are multiple reasons why it could make an up move from here such as the daily trendline, a daily bullish harmonic bat as well as previous structural support. Obviously we must take into consideration the fundamental climate...
The lowest risk entry is on the trendline as shown, (highest probability of success) as well as a high confluence point. From there, price looks to be Forming another Harmonic to the upside.. Reasoning behind this on a technical aspect is that if price breaks the low indicated, then it will also break the uptrend structure. Therefore indicating a further...
Broken past key resistance area, looks to be forming a bearish cypher pattern On a retest of broken structure- good buy
Explanation is on chart.. Look for shorts on this pair, strong down trend. Yen is very strong atm fundamentally, and clearly structure has broken on weekly to the downside + retested.
Wait for price to reach the weekly trendline Daily harmonic (bullish bat) + channel on weekly, and the impulse made on daily confirm another up move
Walking down the stairs
Around the D leg of the harmonic, is a good confluence point where I can see a very good risk to reward ratio.. It's probably good to wait how price reacts around that zone before committing to a buy. Also monitor what DXY is doing in conjunction to this, if DXY is very strong i'll stay out.
great set up, broke structure and DXY is looking bearish
Decent Risk to reward ratio, xxxjpy pairs are retracing but overall are bullish, finding the entry is the key. This pair broke out, so entering around here should be good. Tp 1 is as shown, TP 2 around 1.49750 ash
I'm hoping that a flag or some sort of continuation pattern forms here, or even a retest of the broken structure, that way we can ride this pair for a lot of pips