RuckSack

RuckSack Updated 

Price action is a little messy down here, but we're currently showing some signs of holding support. I'd need to see a break of the TL to signify a trend reversal. If we do break down, watch 122.500.

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This might be a long shot but I'm watching to see how price action stabilises around this TL to see if we will get a small move to the downside, enough to gain a decent entry of 2:1.

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Trying something new here.

RuckSack

Longer term idea for EURJPY anticipating the key support to finally flip for a resistance play given the trend line correlation.

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Just missed this entry on USDJPY, with the spread we needed price to spike a little higher. I've pulled the entry for now, but I'll re-asses if price starts to head back into the range soon, but it's looking like we may continue too low to commit to more downside after a pullback of 20 pips or so.

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Initially looking at EURJPY it seems to be net sideways with not much action. There is however the potential to get an entry on a Sup/Res swing with a play back towards the high at 126.100. I think there is a potential for an uptick on Vol though considering the current tight range so we would need to see a nice clear re-test before we look to enter, but...

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USDCAD has been good to us recently and it's a Friday so I'm not leaving this buy order in too long. If it spikes down this morning I'll happily take it, but if not it has been a very positive week and I'll be more than happy to end the week on that note. The trade is based on Sup/Res flip with macro uptrend for longer term support. I think yesterday was a test...

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A couple of potential targets for EURJPY trades. Nothing immediate but it will help to give us context for when price does move.

RuckSack Updated 

Possible TL break here, not a full reversion as the lower bound TL is a little too large a target. Short term break TL isn't fully fledged out so I'd like to see a very clear retest of structure before entering. 18.4 Pip stop with 3.5:1 TMP

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We're seeing similar setups here on GBPUSD, GBPJPY & GBPAUD. Of which I'll only really be looking to take USD or JPY for the long trade. Obviously a TL reversion trade but I'm a little unsure on the Sup/Res flip. I think we may need another leg down before the on Vol break so we can use 31500 as the flip level.

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Looking for 31200 to break this time signalling the possibility of a long entry. Criteria is an on Vol break with a back test that shows strong signs of staying above Support. TMP is difficult as 31400 could easily be the topside limit, so we are slightly compromised on that. I feel resistance will hold or we'l break out to start testing higher. Our TP doesn't...

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We do have a small TL reversion setup here, but I'm cautious of the 31100 to 31200 given that there was a previous sup/res flip that didn't show signs of becoming res around 30900. This shows price is somewhat bullish causing us the concern over the short term 5m TL which we would need to see a nice break down back test before entry. Trouble is if we're looking on...

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Bigger daily tightening range between 107.000 and 105.000 Current TL break is unconvincing especially with 106.000 as support. Neither side showing any real dominance on the 30m TF which reflects the bigger picture, but with previous week being in an uptrend we will continue with that bias until we're shown otherwise. No immediate entry but with US markets...

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EURJPY is incredibly mixed on the 4h TF. There was a longer term TL that broke down but then didn't find resistance and has since shown a lot of indecision. On the working TF we're looking for a break either side of R1 or S1 before we can look for an entry. Daily chart showing the possibility of a short term bearish move before gaining strength and moving...

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I might regret this, but I'm not taking this entry. Initial reaction was that we had broken down from the TL and was resting. But looking at other pairs and the 5m detail, i'm not sure if bulls have stepped in here to run it higher. Most other JPY pairs are showing bullishness right now due to yen weakness, but SGD is holding steady. Still if we were to enter and...

RuckSack Updated 

Todays idea for AUDUSD. Looking for price to break the support but we need to see a small push higher first to ensure a clean break on Vol that sets up a nice back test. Enter only on retest, 20.2 Pip stop with 3:1 TMP

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Strong downtrend so far this week on EURJPY. Will be watching as price attempts to break the downtrend TL, we would need to see a strong on Vol move above R1 before looking for a long. On the short side I think a basic rejection at R1 might not happen as there isn't much below S1, so we'd arguable see a little more volatility around this area before breaking...

RuckSack

Looking for 1.30800 to hold as Support this time around after an initial break and failure yesterday. Price broke both sides of the range as it huts stops and is now showing strong bullishness. This is our first downside risk on the trade however, as a higher low could form. 14.3 Pip stop on this with a 3.8:1 TMP @ R3