GBPJPY printed a false trend line break signal on 31 March 2017 but immediately unbroke the next session. It’s trend is still falling. In addition, market sentiment changed in April. GBPJPY driver is now JPY, not GBP.
Breakout trades explained. We discuss breakouts as a trade signal/trigger, why there are two strategies: to jump a breakout or to fade or trade against one.
5 features that make a bearish reversal in this EURJPY example. Explained also are 4 different entry levels for traders who demand different levels of risk/ different confirmation.
Rising DXY could be signalling crude oil weakening especially since WTI and Brent are both at resistance. I discuss the signal in WTI to look out for.
DXY, EURUSD and SiMSCI prints highly recurring false-break followed by re-test sequence that catches both bulls and bears on the wrong trade. When the market is playing mind games like these, watch for coming reversal.