The next one to see, really overosld with a massive bullish engulfing shaped. . .this are a drama where I would maintain the halt loose and search for a substantial move.
The next one to see, really overosld with a massive bullish engulfing shaped. . .this are a drama where I would maintain the halt loose and search for a substantial move.
USD/JPY
wow this really is an interesting situation... I am not going to trade it but I had any insights looking at this chart. Talk about stacking the odds in your favor ... there is an uptrend and a clear break below this line. This isn't surprising, the former price action indied a lot of weakness in the currency pair. What's more, the ma's cross over such as the longer term- 50-day ema
This really is but a clear reversal and I want it in my journal. It's separate from others because the WEAKNESS shown before the breakout put the pair, in the time, in consolidation phase and not uptrending.
edit: here's the 4-hour, which suggests a still powerful uptrend. Note: ask razor relating to this situation.
Today since I cant make any trades seeing how much action happened last night I would like to see several pairs to evaluate the strength of a major move such as this one and the potential change signals... more afterwards
AUD/USD- extended
ok so here the pair is only sooo oversold. Like I mentioned, I am planning to experiment with battling a sharp fall similar to that and see what happens. I mean normally identifiion assume there is going to be consolidation at best, but we'll see. Notice the stop is pretty loose, I Wish to give place s/r heree to get a Substantial change (not like ina breakout or some thing )
Considering going long here. . .if I do I will explain my reasoning
The major concern I have here is that the bear adhere a couple of hours ago was a critical move, and various other items. Should I do move long sometime soon, I will be able to have a comparatively tight stop fortunately because when it breaks through the trend line I think I should get out
I was spewing I missed the first move down. The subsequent candle into the large bullish one was roughly 17 pip risk. Down the move was swift as I would expect, held up where I'd expect and it netted about 2:1 before plummeting down to almost 200 pips that could have been a very wonderful sum to take. I like the lengthy but lock in BE if you can, there's every possibility that today may see some continuation. The daily candle is an massive BEOB. It's not at any area of major S/R but it is some thing to be aware of on smaller timeframes. Id like to see something happen off 8960/80 area for short continuation.
Razor