The Beast again!

2015-08-04_9-49-08-GJ

On H4 chart, the price is in BUY zone now (Fib 38.2 – 61.8%), bouncing from 55EMA (Blue line).   So I would like to look for the Long opportunity.

On H1 chart (below), Stochastic seems to be ready to go up now.  Typically the target will be DM4 (DM2 -> DM4).   However, because it is Summer now, you may want to exit the trade at the next resistance level (193.90 ish).

2015-08-04_9-52-37-GJ2

Now, let’s check the entry.  (See below, M15 chart)   The aggressive entry will be ENTRY1 where, we wait for HH and HL.   The conservative entry will be to wait until the price breaks DPP, then long from the pullback.

2015-08-04_9-55-26-GJ3

 

This can be a nice London open trade.

 

Happy Tradin’

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

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