EU: Time to Sell

The pair has retest previous high and reach as high as 1.4361 today. 50% Fibo level (red Fibo) was broken earlier on H4 chart but retrace below the level again for the moment. The day (FxPro server) isn't over yet but it seems that the 50% Fibo level (red Fibo) has provided a strong resistance. Below are the charts. The pair seems to form a head and shoulder formation. I also add AB=CD projection which is near the target mentioned on my last post about EU (50% yellow Fibo). Time to sell? Maybe. The thing is that the price needs to break the neckline first to be sure and indicators on H4 chart still shouting my name, told me to buy. Okay, I'm sleepy already. Bye, see you guys next year :)


One more thing. HAPPY NEW YEAR !!

GBPJPY: Target Reached

The pair has reached the target mentioned on earlier post and a retracement is in progress at the moment. Below is the H4 and H1 chart. The purple TL is the current trend since the price touched the upper channel. If the price can break current trend (purple TL), then I expect a further movement up. The ongoing strong retracement is clearer at H1 chart. The candle closed above the high of the previous candle. I'm sure there is a name for that kind of candlestick formation, but I forgot ;P Anyway, I just wanted to share these analysis and I did not trade any from this analysis (trying to be consistent with 1 system :P). My next move is to order sell limit at 30 EMA on H1 chart. Thats all, bye.

GBPJPY: Lower TL Broken?

Below is GBPJPY H4 chart. Using the chart from my previous post, the pair has just closed below the channel (blue circle). The target is another trendline below (red trendline). Trade on your own risk :)

Head Start: EUR/USD & GBP/JPY

Hi guys, notice that 800 pips spike on EU weekly chart?? The pair closed 200 pips below 50% level and just below 30 EMA. I don't think it will open above the resistance also. I add Fibonacci retracement of 1.2328 to 1.4718 (yellow Fibo) where we can see that it almost reached 38.2% retracement. I expect it to reach 50% retracement (yellow) first by next week.

GJ find its support at the last trading day this week. I drew a channel on H4 (green lines) and H1 (red lines). On 1 hour chart, it seems that it broke the trendline, but we'll if the pair open above it tomorrow. On 4 hour chart, the support line from two previous lows has been respected and give an opportunity to trade with better risk/reward ratio (targeting upper channel & SL below lower channel). Below are the charts.

Thats all for Head Start session. See you next week :)