reversed entry! >.< can you consider this a scout trades or am I totally wrong?
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- #63,323
- Dec 14, 2013 8:59pm Dec 14, 2013 8:59pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,324
- Dec 15, 2013 6:01am Dec 15, 2013 6:01am
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
After doing some chart reading over the weekend I'm wondering if UJ is catching anyones fancy? There are a few reasons why I would be downside bias to this pair myself.
What first caught my eye was the UJ Weekly chart showing a massive potential double top formation as seen below
Shifting down to the Daily TF we can see a somewhat nicely formed Doji pinbar indicating a possible sign of a reversal.
Shifting down again to the H4 TF it can be seen that the uptrend is still in play, however could hold potential if it finishes its move down and outside of the trendline.
Lastly, looking at the M15 TF for a Sonic R. entry with wave analysis we can see this also is indicating to the downside with a lot of volume on the move down. Is this simply just MM's lowering the price to be able to buy up large or could it be because they're closing longs and opening shorts?
I felt this worthy of bringing more attention towards especially with the trading week about to start up again. Any feedback/input from anybody else and their thoughts on what this pair may do would be of much interest and educational value! Of course if this is all just stating the obvious and nobody feels the need to expand on this pair then thats fine too, just thinkin' out loud, peace
What first caught my eye was the UJ Weekly chart showing a massive potential double top formation as seen below
Shifting down to the Daily TF we can see a somewhat nicely formed Doji pinbar indicating a possible sign of a reversal.
Shifting down again to the H4 TF it can be seen that the uptrend is still in play, however could hold potential if it finishes its move down and outside of the trendline.
Lastly, looking at the M15 TF for a Sonic R. entry with wave analysis we can see this also is indicating to the downside with a lot of volume on the move down. Is this simply just MM's lowering the price to be able to buy up large or could it be because they're closing longs and opening shorts?
I felt this worthy of bringing more attention towards especially with the trading week about to start up again. Any feedback/input from anybody else and their thoughts on what this pair may do would be of much interest and educational value! Of course if this is all just stating the obvious and nobody feels the need to expand on this pair then thats fine too, just thinkin' out loud, peace
- #63,325
- Edited 8:24am Dec 15, 2013 7:42am | Edited 8:24am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
After doing some chart reading over the weekend I'm wondering if UJ is catching anyones fancy? There are a few reasons why I would be downside bias to this pair myself. What first caught my eye was the UJ Weekly chart showing a massive potential double top formation as seen below {image} Shifting down to the Daily TF we can see a somewhat nicely formed Doji pinbar indicating a possible sign of a reversal. {image} Shifting down again to the H4 TF it can be seen that the uptrend is still in play, however could hold potential if it finishes its move...
Sailyfee,
Thank you for your nicely sequenced analysis on UJ.
To be sure, if the USD is slated to gain strength in coming months, once the FED officially announces "easing", the market is likely to start with the dollar strength moves, and begin moving UJ further up at that time. Until then, and knowing that is coming, the market has a "last chance" to screw other traders by faking USD strength early, to draw in longs while the market gets short for one last "Hurrah!" to the down side. And, once such a last "Hurrah!" is well underway to the downside, with shorters flocking in, that is when the market can really load up on UJ longs for the eventual renewed bullish trend when the USD is actually planned by the market to get stronger.
So far as this week is concerned, the latter part is full of high impact USD releases, and until then the market might just "play" the price to it's advantage. If the market is looking to suck in longs prior to a downside "Hurrah!", then a downside kickoff is not likely until the latter part of this week, at the earliest.
In any and all cases, no matter what the "news" and no matter what the anticipations, the charts (the various chart TFs) are what is most important, and I thank you for your extremely nice contribution.
-tah
- #63,326
- Dec 15, 2013 10:33am Dec 15, 2013 10:33am
- | Commercial User | Joined Mar 2008 | 9,079 Posts
GBP/JPY WK 51
Weekly Candle : Bearish PB
Bias : Short (Medium)
Note: To prove it bearish-ness, this week is the importance one. It have to end with bearish candle preferably bearish engulfing.. We have big GBP news in Wednesday.
Remember, Plan the trade, and trade that plan.. Relax..
Sonic
Weekly Candle : Bearish PB
Bias : Short (Medium)
Note: To prove it bearish-ness, this week is the importance one. It have to end with bearish candle preferably bearish engulfing.. We have big GBP news in Wednesday.
Remember, Plan the trade, and trade that plan.. Relax..
Sonic
- #63,329
- Edited 4:10pm Dec 15, 2013 3:45pm | Edited 4:10pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,330
- Dec 15, 2013 8:45pm Dec 15, 2013 8:45pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,331
- Dec 15, 2013 9:19pm Dec 15, 2013 9:19pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,332
- Edited 2:32am Dec 16, 2013 12:21am | Edited 2:32am
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
{quote} Sailyfee, Thank you for your nicely sequenced analysis on UJ. To be sure, if the USD is slated to gain strength in coming months, once the FED officially announces "easing", the market is likely to start with the dollar strength moves, and begin moving UJ further up at that time. Until then, and knowing that is coming, the market has a "last chance" to screw other traders by faking USD strength early, to draw in longs while the market gets short for one last "Hurrah!" to the down side. And, once such a last "Hurrah!" is well underway to...
Thanks TAH, really appreciate that and your added input, I'm interested and looking forward to seeing how this pair develops. Keeping on track with seeing what the various TF's have to offer, I also realise price is approaching the downward TL with a possible reversal bar having formed as a top on the monthly chart.
To me the bull spike seen on the weekly and monthly charts could indicate hiked up prices for MM's to be able to short at more desirable and wholesale prices while still being in line with the overall trend allowing for price to move comfortably in the opposite direction with plenty of room. That being said price could reach the monthly TL to further reiterate this. On the other side, if UJ is set for further hiking up why would the MM's have more incentive to break this TL in being able to achieve greater profits? Would really like hear your thoughts on this, much thanks
- #63,333
- Dec 16, 2013 7:15am Dec 16, 2013 7:15am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,334
- Dec 16, 2013 7:59am Dec 16, 2013 7:59am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,335
- Dec 16, 2013 8:49am Dec 16, 2013 8:49am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,336
- Dec 16, 2013 9:04am Dec 16, 2013 9:04am
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- #63,338
- Dec 16, 2013 9:22am Dec 16, 2013 9:22am
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- #63,339
- Dec 16, 2013 9:47am Dec 16, 2013 9:47am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #63,340
- Dec 16, 2013 10:00am Dec 16, 2013 10:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
