cad/jpy

[Rob123]

This may not be nothing but worth keeping an eye out. 84.07 to 84.36 looks like a strong SR area on the 4hr chart looking to the left plus this at the 61.8 level of the top down swing.If this pair moves up to the 127 area this put us at the 84.20 ish area on 4hr...hourly 84.50 area.It's also touching the 200 ema on the 4hr chart. 84.36 looks strong from past SR levels.H&S pattern . This will be 3 confluences : 61.8 retracenent , SR level, 127 extension upmove and the 200ema will be 4. I will be watching.-It could easily bust right through all this to the upside.If i get a good reversal candle around this area i'll be shorting.

Rob

[Raj]

Rob, nicely done man!!

Next thing to watch is the daily trendline, at that 88.00 level if we push through to there.

:)

Keep Pipping

[Raj]

Rob, nice little scalp...next thing I would look for is the daily Trendline and the 88 level if we push through

:)

Keep pipping

[Rob123]

Thanks Raj but i actually missed this one because i fell asleep.We will get them next week .Thanks for all your posts ..learning a great deal from you and i'm adding a few confluences like round number Sr just to make the level possibly stronger. Rob

[Rob123]

1247 We could have a possible short here at the upper trendline on the 1 hour. The reason the daily has completed it's move up to 168. with a descent daily reversal bar.The last 2 swings on the weekly has bumped up to 68/32. So i'll be watching for a short around the 50ish are .Also we have a good SR line from the past there on the hourly. If i'm awake and get a good candle formation...i'll short at the upper trendline. The upmove now on the hourly chart will put us at the 118 fib or 127 close to this SK or SR area.

Rob

[Rob123]

Disregard the weekly scenerio :) Anyway i'll still be looking for a short on the hourly :)

[Rob123]

stopped out on that one :) Rob

[Raj]

A pullback to the SK support would be nice, for further buying.

:)

[Raj]

SK and TL...waiting for something bullish or a break of support.

:)

[pipsqueakr]

Man, i missed the waiting for a break part... was looking bullish @ the SK
lol

does this now fit one of ur Head and Shoulder trades Raj? Possible entry @ 618 of the DS and back of the UTL?

[Raj]

Kurt, latest Ab on the 240 has only had a 50 bounce...so yes on the 60min watch that backside of TL for anything bearish...remember when the inner trendline is broken, market usually wants to travel to the next TL.

Good luck

:)

[Raj]

Kurt, did you take the CF at the 786/TL?

:)