It's a simple trade - keep a lookout for this formation!
9th December's giant candle, and the inside daily candle for 10th December.
A close below the HIGH/LOW of 9th December's red candle can potentially spark a breakout in that direction next week!
In this case a close below seems highly likely.. Good luck.
Alongside my previous published idea:
I mentioned that if the pair failed to break above 123.44 and close strongly, the pair would fall - and that came true.
Currently, we are looking at how the pair retraces the recent leg down - and watch if the pair manages to consolidate back into the month long channel, or fails to do so.
I am placing orders to SHORT UJ at...
Diagonal trendline broken and 4hr candle closes below long time resistance level as well as 200 day MA. To me this shows that the market will drive things downward; Good signal to sell
As we see we have a very nice double top pattern. Price has tested the neckline and made little correction, what I am looking is the price to break this neckline which will be a nice opportunity for bears to go short. We may choose more conservative way to get involved in, when the price breaks the neckline wait for the retest and then sell. However there is a 3rd...
This current uptrend on the USDJPY, although overbought on the RSI is showing strength for the moment on the MACD. I would expect it to ride the trend until the MACD shows signs of weakness and then a breakout on the downside.
We could potentially see this breakout at some point next week. Im not trading but i will definitely keep an eye out and see how this one...
FX:USDJPY is in a harmonic move these days. There was a bat pattern and now we are in the next bat pattern. And this is a great opportunity to go short. As we see price has not hit the D leg yet. We have an additional confluence bearish divergence. The R/R is very good, stops go above 120.26 and our targets will be 119.21 and 119.79. Look for structure...
This is my favorite trade from a fundamental perspective at the moment and is the best way to position oneself following the FOMC interest rate decision. Due to my bearish sentiment on US equities, the flight to safehavens like the yen is a theme I am very confident will play out.
Interest rate maintenance for the US dollar now clears the way for the yen to...
I wake up, did some analyses and found out this perfect opportunity on FX_IDC:USDJMD
Completed Bat pattern at the PRZ zone with the confluence of:
1. Fibs 61.8
2. Structure resist
3. Daily R1
We have very nice R/R targets: Target 1 with 1/1.95 RR and Target 2 with 1/3.4 RR.
I want to mention that X leg is located in very strong resist zone, which gives us more...
I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move.
I’ll be looking for short opportunities on this pair in the Live Trading...
THE POTENTIAL BEARISH BAT PATTERN:
AB=0.723XA;
CD=2.24CB
XD=1.27AX
ZONE FOR SELL:
S/L above 124.480
Target 1 = 123.990
Target 2 = 123.860
Target 3 = 123.340
Open your position after news (Gross Domestic Product Annualized (Q2)Preliminar).
Thanks for your likes and comments!
Turn to weekly chart and look at the structure for previous resistance(horizontal line)
CORRECTION first take profit should be around 122.00 which is not correct in the chart
Found a bearish gartley pattern in the USD/JPY 4h chart.
Stops go above the X- leg.
Profit targets at:
.382 (hit)
.618
and an extended target at 1.272
Lets see what happens
