GBPJPY Forecast and Trade Setup for the week 24th Feb, 2014
Weekly Chart
- Weekly performed a doji candle - a sign of uncertainty
Daily Chart
- Reached 2 trendlines / potential resistance and rejected from there giving us a pin bar candlestick pattern.
Hourly Chart
While writing this blog, i could see that there WAS a Bearish Cypher on the h4 chart which worked well with hitting minimum targets of this pattern. Anyway, it is too late to play this pattern.
With the Doji from Last week's candle - there could be good opportunity for scalps or range play while the market work itself out for the next move.
Outlook Trade opportunity
Please see hourly Chart, - I have a buy and a sell trade setup
Risk Level Medium
Tips -
Always take note of any economical news event on our provided calender below
AUDUSD Forecast and Trade Setup for the week 24th Feb, 2014 - (Bullish Gartley is in play)
Hourly Chart
My View from last Monday's analysis for the Aussie has changed from bearish to bullish. After holding price above the 90 level for majority of last week and price action of Daily Candle, Ichikumo also suggesting we should trade a higher. Also a correlated pair of EURUSD my view is that we will also trade higher, and if so, my view on the aussie matches up .
On Friday I have spotted a bullish gartley and bought it at the 78.6 , we have hit our first target, and still in and looking for above .90's target.
Outlook Trade opportunity
We are still in the bullish gartley trade from Friday
Risk Level Low
Tips -
Always take note of any economical news event on our provided calender below
