Yesterday: Today:Congratulation to all of you that follow my entry for GU. 250 pips in your account now. :)
Now concentrate on GJ. Our 1st tp at fibo 50% have been touched so we wait whether price will go down to 61.8% or going up to 31.8%. Wait for new H4 candle.
We can see GJ retrace to fibo38.2%, but for GJ 38.2% not enough, usually it will retrace to 50% so my target now at 50% and 61.8%. I also will make buy limit at that area and my SL will be elow 61.8% ( about 50 pips).
Bearish engulfing pattern may provide an indication of a future bearish trend. But you have to confirm that the candle follow the formation of the pattern before you enter forex market.
From daily chart today, we can see daily candle below sma100, price for daily try to break sma100, if cannot break it then the price will go down to ema50. I open sell position and my TP at 1.4347.
If you follow my analysis yesterday then i think you are now holding green pips about 100pips. So i hope you lock your profit, whether you up your SL or just click trailing stop so you don't have to worry about your post. :) I still hope price going down to 1.4300.
We can see that there are shoulders and a head. If price can break upper white line then my target is lower white line. Wait and see. Trade with patient and brain :D
GJ touch 141.29 target, congrats if you made this price as your TP. I already buy from 141.29 because i set buy limit at point in white circle in chart below. So my target for GJ today is last high, maybe i just make TP at 144 first then 145.05 (last high).
Retracement from GJ, after broke 141.5 and make new high for this week i think it is time for GJ to retrace, white circle are my target (TP) and also maybe a time to buy low. :)
After broke red trendline, GU price going up. My next target is at horizontal line ( cyan) at 1.4888. Horizontal line ( cyan) be a good resistance, we can see several candles try to break this line, if it manage to break it, i think we can set target above 1.4986.
GJ already broke last time high at 141.50 so we can see candle going up until 143.46 but i think price will go up until 144.45 before retrace to 141.5 0 and will go up further to 147.73.
From weekly chart, we can see price already broke neckline about 1590 pips from bottom price. So i hope price will go up to above trendline at 152.30. But this is a weekly chart, it maybe take about several week or month to go there.