FX:USDJPY   U.S. Dollar/Japanese Yen
a year ago
Similarly to GBPJPY             , USDJPY             seems to have topped after moving past the vix             spike 75% retrace support level.
On the daily chart we can observe bearish rgmov signals and on the weekly we can see that price has gone under 123, and failed to produce new highs after testing a quarterly range expansion bar's 50% level.
It seems like this is the start of a strong bear market in this pair, so I'll be looking to go short on a retracement.

Invalidation/stop is a retrace past the 61.8 level of the first wave down, which I think will be over the weekly mode.
(I'm not positive is wave 1 down is finished, probably soon).

Again, going short here once we get the aforementioned retracment, is a very significant opportunity, which I don't intend in missing.

Good luck, and brace yourselves...wild ride coming.

Ivan.
a year ago
Comment: Might take a while to hit the target.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
Placed a pending sell limit at 123.049, stop at 124.286.
No profit level set yet, it can fall for a very long time, so if valid, this will be a position trade.
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stragaw IvanLabrie
a year ago
crossing all fingers :)
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IvanLabrie TOP stragaw
a year ago
We need a retracement to sell, we'll have to be patient.
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milehk IvanLabrie
a year ago
means ...is it danger to sell now directly? thanks your advice
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IvanLabrie TOP milehk
a year ago
Not optimal, a bit late for market selling.
Tempting for sure, but not the smartest thing to do right now.
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milehk IvanLabrie
a year ago
hmm ic, do you think usdjpy will retracement at coming U.S. hours?
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IvanLabrie TOP milehk
a year ago
That would be terrific...any rally is a sell here. The closer to my suggested stop loss the better.
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This might do something, or not and it cuts through both like butter...
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Robson_Hayashida IvanLabrie
a year ago
Now it is 119.44 so you were right.
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IvanLabrie TOP Robson_Hayashida
a year ago
I'm waiting, we need a steeper retrace and time consumed on the correction to stay within a valid impulse down per neowave rules...as for time at mode, I need to get as close to the stop to short this with optimal risk/reward, so for now I do nothing.
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IvanLabrie TOP IvanLabrie
a year ago
The down arrow is not at the correct spot sorry, should be at the first daily down bar that touches the mode's horizontal line before the plunge. (4 bars ago)
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IvanLabrie TOP IvanLabrie
a year ago
Look at this reaction...time at mode uptrend signal expiration, monthly scale.
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Qeueing shorts now:

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Short term counter trend long. Will make my trades risk free if it works, risk is 0.25%.
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IvanLabrie TOP IvanLabrie
a year ago
(Closed this for 0.35% profit.
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I trailed the stop to 122.008 and removed my higher order, I really don't think it'll get triggered.
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scalper_pro
a year ago
ready to short,,,,,
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Same as GBPJPY:

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IvanLabrie TOP IvanLabrie
a year ago
Qeue shorts here, 120.528, SL @ 122.013.
good luck to us all!
Aiming for 100.
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Finally starting to slide down. Let's watch how price action behaves to determine wether to scale or not, and where.
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Trailed stops to 121.22.
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IvanLabrie TOP IvanLabrie
a year ago
Placed scale ins at 120.377 and 120.89 but didn't get a fill and probably will never get it.
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IvanLabrie TOP IvanLabrie
a year ago
Scale in at 120.24 filled.
Pending sell limit at 120.72725, SL: 121.22.
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Looking good.
All SLs at 121.212.
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IvanLabrie TOP IvanLabrie
a year ago
Moved stop to 120.773.
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IvanLabrie TOP IvanLabrie
a year ago
Trailed stop to 120.014. Price seems to be oscillating rather fast, we might have a move down from here.
If stopped, no big deal, we can reenter before NFP.
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