After failing on the break of the upper side of the triangle, it's testing the lower side, with a week opening of great gains on JPY side. May continue the downtrend during the week.
Entry may be made if it closes below the lower side of the triangle.
First target is the 61.8% retracement of the move, with a R/R of 3:1 and stop loss above the last resistances.
If it fails on making the move down, we can enter with a long position if it manages to break and retest the upper side of the triangle.
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Great rejection around the upper side of the triangle on the last minutes of the session. We can now make an entry if market manages to close 1 hour candle below the lower side of that triangle. That can happen in the next 15 minutes.
Trade active
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Active
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Trade is running great, now testing the lost support. May go down on the Asian session as well.
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Getting closer to the take profit area. I think we can extend it. Markets are showing a lot of strenght. Change the stop loss to the entry area or below it. Depends on your strategy. Enjoy the gains!
here is what I have on it from a MTA analysis perspective
Thomas_Juchem
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@transparent-fx, Great analysis1 I liked that part with the hedge funds positions. I believe in the JPY possible move up as you said on the video. Let's see what we get on the Asian session