captain_smollett

USDJPY. Bullish Butterfly forming?

FX:USDJPY   U.S. Dollar / Japanese Yen
Possible Butterfly pattern spotted on USDJPY             pair. Any of next daily candles should close above 103.51ish, if a daily candle closes above this, the pattern is invalidated.

Entries for short:

Entry points: 103.91 and 104.45
SL: 105
TP1: 100, TP2: 95.50

Entries for long:

Entry point: 95.50
SL: 94
TP1: 100
TP2: 102.96
Comment: Reaching 103.50 area. Someone will have to turn this thing down...
Comment: Rejected in first instance. DXY failed to close above yesterday´s high. Not a big sign but can become more important if tomorrow both UJ and DXY decline
Comment: Once again, daily close above 103.51 will invalidate the pattern.
Trade active: Shorted 1.0391, stops to breakeven. There is a gap which hasn´t been closed when the USD turned down, not only on UJ pair. It can be closed on tomorrow´s NPF volatility but my overall view is short USD
Trade active: Closed first short on initial move down and opening a new short now. SL: 106, TP: 96
Comment: Added shorts at 104.15. Moving first short to breakeven. If I´m not wrong, EURUSD still has to touch 1.1135, therefore one mroe leg up on UJ is possible
Trade closed manually: Pattern invalidated.

Closed all shorts before the market close
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out