Well the EUR/JPY market failed to push above resistance at 140.00 and is now moving back to support at 138.00 key support. Here we will watch out for a price action buy signal to trade a move to the top of this current range.
This market has put in a pretty impressive run higher after its big sell-off and stalled just below key resistance today. The signal we got today isn't really a great price action signal, but we may still see a sell off from these levels. A tactical way to play this would be with a sell-stop order below today's low, which will enable traders to trade any downside movement with momentum on their side.…Continue
GBP/JPY did dip back quite far following the outside bar / false-break we discussed at 170.00. Prices actually dipped below the low of the false-break bar so may have stopped traders out if they had buy-limit orders pending still. It's usually sensible to cancel pending orders if the market does not play out in 2-3 days, and this market really too 5-6 days to dip back, so…Continue
The Crude Oil market popped higher today back towards key resistance, this may well provide traders with second chance to look for short opportunities here with a very good risk / reward opportunity.