EURUSD,EURJPY MAY PLAN BULLISH RUN

Good morning again 10:52am here Nigeria time and i noticed EURUSD and EURJPY broke my resistant point again waiting for possible entry after retracement. Let's hold.

GBPUSD - RESISTANT BROKEN

The GBPUSD pair had an intra-day rally that broke one of my major intra-day resistant point at 1.4887

After a good swing high formation, an entry is good at 38.2% retracement at 1.4896 with stoploss at 1.4775. Our take profit should be about 140pips.

Let's see.

EURUSD-WEEKEND GAP

The EURUSD broke a major intra-day resistant with a weekend gap above 1.2805

Its obviously in a BULLISH MOOD and I will prefer a retracement to 1.2819 region to plan a buy with a stoploss at a close below 1.2678. 80-100 pips from entry should be a good target of takeprofit.

Takecare of your risk level, I personally dont like to trade after a gap, but if you must trade reduce your risk level below the normal.

Good luck.

James.

USDCAD - DOWN TURN EXPECTED

With our intermediate support in place for Fibonacci, it time to think short withing the region 1.0428 and 1.0394 Stop loss at the 80.0% level and 1.031 the next major support zone.

Let's watch!

SUPPORT DEFEATED - USDCAD

Less than 20min ago, the USDCAD went below my intra-day support. At this point I will be waiting for a nice swing low to connect my fibonacci and entry might be staged if conditions conducive. We should check back 5 hours time for possible change.

Catch you later

Risk Warning!

Before reading the up coming post please review the Risk Warning below:

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

FIBONACCI AT IT'S BEST

Welcome to bondfx-fibonacci,

I have designed this blog to cater for all my daily post relating to trend and momentum based on pure fibonacci and 15min (MAJOR) supports and resistant. Its going to be a great time here and effort will be made to make it simple and explicit enough.

A quick knowledge about fibonacci as a tool you can click here to read.

Till the next post, have a nice time.

James Ayetemimowa
President - BONDFX