IvanLabrie
Short

USDJPY: Short now, abysmal targets

I think it's worth it to try a short trade here, aiming to capture the following targets:

Target #1: 116.39
Target #2: 112.95
Target #3: 102.48 (monthly uptrend mode from 2011 to date)

Market sell at the open, place stops for each position at 123.96, and hold the trade until the end of November.
If we don't hit target #2 by then or earlier, and we're not stopped, it might be safer to get out.

Check out Tim West's "Key Hidden Levels Chatroom for more insights on the stocks , bonds, metals, currencies and Bitcoin markets. I'm currently managing a private trading room for Forex , CFD             and Bitcoin futures traders.
Contact me for more details on how to join either of the two.

Regards,
Ivan Labrie
Trade active:
snapshot
Comment:
snapshot
Hi Ivan! Nice setup! Was waiting 1 week to enter, and went short on Friday (122.76). If C=A we can reach around 113, if 1.618 expansion then even lower, so best of luck to you!
Currently I see corrective wave 2 after leading diagonal it should calm down around 61.8-78.6%.
snapshot
+2 Reply
Definitely an interesting scenario!
Thanks for stopping by.
Let's see how it unfolds.
+1 Reply
aibek IvanLabrie
You are most welcome amigo!
Reply
aibek aibek
by the way, JPN225 has same structure
snapshot
+1 Reply
Shorts getting a bit jittery ahead of BOJ meeting on Thursday. Should be doubling down (maybe they are?), because if BOJ doesn't announce another planned bond purchase , USD/JPY will go down fast.
+1 Reply
IvanLabrie PRO QuantitativeExhaustion
The stop here was almost hit.
In any event, it's lagging the S&P500.
I think it's still an interesting proposition.
Reply
IvanLabrie PRO IvanLabrie
Long time no see btw.
Reply
Hi Ivan,

What indicator are you using to get the price profile on the right hand side, please?

thx

Rob
Reply
Volume profile, part of the pro plus suite.
Reply
How about this -
USD JPY likely to GO UP on medium term
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out