It was a long break, but from now on I am back. First of all, thank you for your kind emails. You really liked guide to Fibonacci retracements and Fibonacci trading. That is great. I plan to post more educational content.
Today let’s have a look at some good price setups which worked nicely.
On eurusd it was a pretty nervous week. Everyone was talking about possible move to 1.4. Indeed, buyers tried to force that level, but we saw a selloff from here. In the same time there was an ECB meeting and comments from ECB did not help euro.
Because of ECB and nervous moves on eurusd I switched to usdjpy, which was a good decision. I had some good trades, like that when after move up price returned below 50 and 100 moving averages. Buyers tried to come back, but there was a strong resistance. I closed at 161.8% (take profit order), but move was clearly stronger than I expected.
On Wednesday it looked that strong move up is possible, but it was false and I was stopped out.
Later on Thursday there was a similar scenario as in first example. After move up price closed below moving averages, bulls tried to do something, but the resistance from averages was obvious. Move stopped for a moment at 161.8% extension line, where I closed trade.