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GBP/JPY breakout 16th april
Today there was one breakout trade with simple technic of GBP/JPY breakout trading i took short on 145.25 on closed m15 candle. I put market order with 50 pips SL and 50 pips take profit. Trere is nice idea to get out with this tool when the blue line cross over the price You can get out. I had to go so i put simply Take Profit and Stop and went out. See chart below nice and easy 50 pips profit.
Daily plan
NEWS: USD 8:30 AM est Building Permits / Unemployment Claims
1:00 PM est FOMC Member Lockhart Speaks
NZD 6:45 PM est CPI
EUR/USD did manage to sell off somewhat as predicted after price bounced hard from the 20 day MA on Monday. Price may still be bearish but don’t be surprised if price does rally up to retest this 20 day MA level again for resistance. IF price rallies, the weekly current 62% retracement is 1.3296 and the weekly high of 1.3393 may again provide resistance. IF price sells off, last week’s low of 1.3090 has been support before and may again provide a nice bounce, then the next fib target from the week’s current high/low is 1.3051.
GBP/USD rallied up to make new weekly and 10 day highs before stalling around the key 1.5000 level which is currently the high of the day. IF price continues to rally, 1.5115 is a monthly-mid pivot and fib target and 1.5152 is the next major fib target for light potential resistance. IF price sells off from this week’s strong rally, watch for possible support at 1.4810 (fib retracement cluster) and 1.4755 (next major fib retracement level.)
USD/JPY sold off hard to begin the trading session then rallied for the rest of the day as price found strong support at the 200 and 20 day MA’s. For tomorrow’s possible resistance watch for the zone beginnning at 99.73 and the next major fib retracement 100.18. If price sells off again, watch for the lows of the week around the 98.00 level as this is also a major fib retracement and then next support cluster at 97.36 (monthly pivot.)
USD/CHF also attempted to rally after the huge sell off from Monday, and found the highs of the day just above the 50% retracement. IF price again rallies, the 1.1500 zone begins a level with resistance clusters and 1.1541 is the next fib target. IF price sells off, 1.1317 is just above the weekly lows and 1.1243 is LAST week’s low price for the next potential support.
USD/CAD did manage to rally and retest the previous major SUPPORT as RESISTANCE and continued the selloff as predicted to make new monthly and 10 day lows. IF the sell off is to continue on Thursday, the next support is the fib target of 1.1925 and strong potential support in 1.1800 zone contained in the 1st and 2nd buy zones. IF PRICE rallies, watch for specifically, 1.2190, 1.2247 and 1.2303 as the fib retracements from last week’s high to this week’s current low that may be support!
Happy trading