DayFarrell
Long

USDJPY PSUEDO-CYPHER IN PLAY

FX:USDJPY   U.S. Dollar / Japanese Yen
Ii called it a psuedo-cypher because it doesn't exactly fit the ratio for a cypher , however if completed it's still present a nice trade opportunity. I'm watching the pattern along with the channel that has developed, a penetration of this channel line lower will put me in play for the pattern while a penetration upwards will negate this set-up. Let's see how it plays out.
morning Farell, what movement or actions for this USD/JPY ? Eyeing to 108 before go high again?
Reply
DayFarrell Sam0101
i just started to review the charts for this weeks expectation, so i will post a bit later, but 108 seem a bit strong of a reversal for such strong bull market. this pair is not the easiest to trade now because it is extremely stretched, so not the best for analyst. so thats why i focus on small moves with this pair.
Reply
there we have it, target, trade complete
Reply
It will retrace to around 108.4 before push higher ?
Reply
DayFarrell Sam0101
i never saw a sign for a pull back, so i didn't think about it, it will cloud my judgement. :)
Reply
so clearly we are in play for the channel, therefore we determine a target based on elliott wave, we are now looking for the final wave. TARGET: 109.04 2ND TARGET: 109.17. The 2nd target is a possibility but may be in the form of an overbought wick. how i'd trade this? i'd only look for target 2 if the market gain some momentum, if not i'll stick with penny gains.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out