Haus_
Short

USDJPY Good Short Entry

FX:USDJPY   U.S. Dollar/Japanese Yen
6 months ago
A small Head and Shoulders is forming on USDJPY             that may provide a good entry for a longer term short. Short term TP at $109 while longer term TP is at $104. A stop hit right above the top around $109.75 would invalidate this trade.

The pattern shows up clearer on lower time frames, however 15M was the lowest it'll allow published.
6 months ago
Order cancelled: This pattern didn't complete. however other's have noted harmonics that appear to fit the price action better. I'll still be looking to execute this trade if the price does come back down as expected.

USD.JPY - Bearish Cypher - 109.768
6 months ago
Trade active: Now it's active, stop loss was set to $109.9 as that gives a decent short term R/R while giving some wiggle room to any bulls that may be getting trapped. It is also the pivot above a previous move down that should provide strong resistance.

snapshot
6 months ago
Comment: Long term target is near a previous yearly pivot.

snapshot
TomPower
6 months ago
What were you smoking
Reply
Haus_ TomPower
5 months ago
It's counterintuitive I know, I'll admit it did bounce higher than I thought it would though.
+1 Reply
Haus_
6 months ago
Tool a little longer than expected but it eventually got moving in the right direction.
Reply
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