Potential Short Setup

FX:USDJPY   U.S. Dollar / Japanese Yen
154 7 2
Potential Short Setup
Looking at candle formation on the daily, I would suggest that the short is over and it is now moving into a long position
and the market ended up in your "interesting area"... I accept your pattern trade here but longer term you are expecting long for the USDJPY, right? I mean based on your Maximizer strategy, the USD is stronger the JPY in both GDP and interest rates.
IvanLabrie johncarter_oz
I think it will eventually turn into a long trade as well.
As for s/r, I use a different methodology, no harmonics nor fibs, mostly market profile derived.
Good setup though ;)
Why is that area interesting?
baraq.adnan IvanLabrie
have you noticed - why it was/is an interesting area !
IvanLabrie baraq.adnan
I was asking about the reasoning behind you labeling that way.
johncarter_oz IvanLabrie
Hi mate, you can see the market (on the 4 hour chart) turning at these 2 lines. This means that they are Support & Resistance (S&R) lines. So when the market comes down, it may bounce... as it did, this next time it might bounce again or it might go through.
History repeats.... you can be sure
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
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