Structure Trade & Bullish Gartley All In Play on USDJPY

FX:USDJPY   U.S. Dollar / Japanese Yen
Following my post from yesterday, the market has now come back a little little deeper than where i said it would but it's still a valid long trade in terms of the structure trade i posted yesterday and if you're a pattern trader instead, the market has given you another alternative by forming another gartley pattern which has just completed. I'm still gonna be staying out of this trade because my second target from the first gartley i posted a few days ago is still open. Another good thing about this trade is the fact that my RSI is showing oversold conditions so i expect a pop back up from this point, so only time will tell now.
Trade closed: target reached
Looking for upleg too
Nice! Let's hope we get that pop back up.
+1 Reply
KayJay JoMarshall
KayJay KayJay
This can also be a possibility what do you say ?
Yes of course anything is possible, besides, if you look at this pair on a higher time frame(H4) you can see that the market is turning bearish because we had a double top and a rising trendline support that was broken so if you ask me, it's just a matter of time before we see a major downward correction but I only trade H1, M30 & M15 and looking at my chart on those time frame the opportunity that's presenting itself is a bullish trade and I only trade what I see. But if we do break below that triangle you have on your chart (pink) then I'll take my loss with a pinch of salt and try and look for a bearish trend continuation trade. Hope that helps.
+1 Reply
KayJay JoMarshall
Yes, i'll be taking a loss as well but i will also go short if it breaks the below pink line to break even my loss as the overall trend is down and 121.900/121.700 is still pending
Yes exactly, but until that happens, let's hope we hit our target before the bears take control.
+1 Reply
KayJay JoMarshall
Yeah put a leash on those bears, market until we reach are target and go bearish ourselves as well :-P
KayJay JoMarshall
Need to keep an eye on the upper pink trendline as well as if it breaks upward with momentum we will reach are targets easily :)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
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