Gee Jay is in the top of the channel bellow supply and wave 5..
Hi Traders, this is my plan for this pair, if the all conditions will be met I will enter (or might not). Make sure you follow me all updates will be shared here from opening until the close of the trade. Don´t hesitate to comment with any questions and hit like for the support.
Reason: JPY as the safe haven will strengthen on RISK on. COT confirms that we can see USDJPY banks are closing the longs. Britain has cut the interest rates and is hardly hit by COVID. Risk off will take it down.
Technical: Price is moving in the channel middle of the channel and to the supply zone . Tick volume is decreasing on the up move. So this move should not last for long time.
FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players ( COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.
Reason: JPY as the safe haven will strengthen on RISK on. COT confirms that we can see USDJPY banks are closing the longs. Britain has cut the interest rates and is hardly hit by COVID. Risk off will take it down.
Technical: Price is moving in the channel middle of the channel and to the supply zone . Tick volume is decreasing on the up move. So this move should not last for long time.
FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players ( COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.
Comment:
Waiting with sell limit order if not filled I got alarm and will be entering with sell stop
Comment:
Changing the trade to the sell stop order, I don't want guess where it will reverse but Will be joining the short on the JPY strength
Comment:
Moving Sell Stop higher
Trade active:
