G'day Gentlemen,
This Thread is for everyone to post any trading opportunities/setups preferbly on smaller time frames like 1h, 30m, 15m.

Im gonna start with EUR/JPY. This is not my favorite pair but at the moment its one of the better looking....
So ,
4h chart. The price has reached a resistance level and reacted to it creating a Dark Cloud cover which is a relatively strong reversal signal, however there is no valid support line we can draw. Although the main trend is still bearish but it starts showing some attempts to reverse and go up.
I would NOT consider Selling Long here but the first target should be at 124.00 or a little above.


1hr Chart is more interesting. There is a support line we can draw. Looking at RSI I think that the price will make a new high creating a strong divergence on RSI. This will be a first symptom of a forming Trade setup (Sell). If it will brake the Support, The first target should be at 123.90.


So there you go... Keep an eye on this pair.. It could make you richer than you were yesterday ... If this is been covered somwhere in this forum disregard or read again.

Good luck!

Well done for starting this thread USP,
I did actually talk about this pair in my journal at the end of last week, so I won't repeat it here. I was also looking for a short position, so I cannot disagree with you too much.

The only problem that I can see is that, subject to a break of support, your proposed target pips are possibly quite a bit lower than the obvious stop level. Are you working on the 1:0.75 R:R ?

Hi Keith,

I actually took into consideration the fact that the main trend is still bearish (on the Daily chart), but you probly right .. we gonna have to wait and see what will happend at 124.36 level...
and yeah I'm a bit of a risk taker ... well its a reasonable risk in this situation, considering the main trend direction... but you never know what will happen....

G'day everyone!

I just had some Ideas on trading setups, any critisism is welcome ... \

USD/JPY Daily chart. As you can see there is valid Resistance line, the price has touched it and bounced off. This is a good setup coz the main trend is still bearish, even though there is a mild convirgence on a weekly chart on RSI (also Below) The price can go lower... Bear in mind that the Bolinger middle band is in a way, so I recomend wait untill the current Daily candle is closed. If closed below the BMB , 1st target 89.60 . 2nd target on 88.95 or a bit higher...Stop around 91.00



EUR/JPY 4hr chart. I mentioned earlier in this thread that the 4hr and 1hr chart were seting up a good trade setups.. Well the targets have been hit so.... well done FOREXOMA!!! now we look at the 4hr chart of this pair... This time we can draw a support line on it and wait for the reaction of the price... if it brakes the support as well as 123.10 level , target on 122.40 or a little above. if not broken , wait for a buy signal , 1st target 123.70 then 124.00..


Good luck ! And post some trading ideas, if applicable, coz it seems that only me running this show...

USP

I admire your enthusiasm but as Vahid runs the site and Keith's post count is over 450 you are perhaps overstating your contribution

All the best

Michael

Perhaps I am overstating am I? If you read the very 1st post on this Thread, this is for everyone to post their trading ideas.. Even though Vahid runs this site there are trade setups that he could miss out on... Im just expressing my opinion on a particular trade setups... if you dont like it , dont read it... When i said that I was running this show, I ment that it seemed that only I post trading Ideas in this THREAD... , so far thats whats goin on...
I dont really care if you admire my enthusiazm or not... or how many post does Keith have.. Im here to learn more on top of what I know, and share my opinion... ok?
Good.