prolonged compression - nice break of wedge
other open trade - eu long
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NZD/JPY Discussion 12 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
Suidster's GBP/JPY Discussion 19 replies
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DislikedThank you realjumper!
It's my exact thoughts on 85.00. I've marked out the resistance line and reasons on the chart bellow why i think it will be strong resistance.
I will look to take profits at 85.00, wait for a retracement and then go long again. I will not be selling the retracement. 85.00 should see a lot of long covering and a lot of short orders so don't really want to fight it.
i would expect the pull back to around 83.60/83.00. 83.00 is a string possibility because of the monthly R1 pivot. If we got down to 83.00 all we would need is...Ignored
DislikedEvening Traders!
We didn't see too much explosive action today with a total daily range of about 50 pips and equities finishing the day flat.
My bias going into tomorrows trade remains bullish which is backed up by a M5 chart I have attached of the trading week so far.
We can clearly see we are bullish for the week with todays support coming in at 83.00, which has been former support and resistance many times already this week.
On the M5 chart we have a green descending trend line, which if respected, may have a chance of pushing us through the...Ignored
DislikedMy second chart posted above has the weekly pivot points on it. Here is the same chart but with daily also. Daily has the same as you have.Ignored
Dislikedat this point... whatever...
I just want some volatility... come on....Ignored