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USDJPY: Bearish Gartley TP1 Hit (+34 pips)...What Next?

FX:USDJPY   U.S. Dollar/Japanese Yen
So the ADP gave this pair a nice kick in the butt and got it moving in the right direction (well, at least according to my analysis is the "right" direction!). So already bagged +34 pips on the news release but TP2 lands right about where I am expecting prices to meet the upper trend line of the ascending triangle pattern and am expecting this to be the last leg of that triangle before moving firmly up and hopefully through the top of the triangle. So for now, I am closing only 30% of my positions and holding the other 70% for the TP2 since I am expecting to reach the E point. But I am going to short close the TP2 and not wait for the whole thing to be safe.
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ChatchaiVong
a year ago
thank so much
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MaryJane
a year ago
thank you for your nice shortterm idea....5 days i announced the long trade idea: At this moment the Long Position got filled: If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.

Preparation for Flag-Trade
Preparation for Flag-Trade
snapshot

shortterm flag trade: entry 124,55 / Initial SL: 123,85 / TP: 125,5-125,7
middleterm flag trade: entry 124,55 / Initial SL: 122,75 / TP: 129

Pair with bullish FLAG
Pair with bullish FLAG
snapshot

Y€$ - the widge got triggered and bought! This pushed the pair to its last high @ 124.42. From reaching this high a chealthy consolidation started, the pullback stopped @ 38,2 fibo - the minimal correction level!
This consolidation is forming a bullish flag (blue). The buying signal is active when the pair is traded above 123,9 / 124,45. I see potential on the upside.
On the downside, the level between sma 200& ema 200 should be a strong support.
Prices below this level will turn the chart into bearish (middleterm)

Will the support @121,5 hold and the bullish wedge be triggered?
Will the support <a href="/u/121/" target="_blank">@121</a>,5 hold and the bullish wedge be triggered?
snapshot

Will the support @ 121,5 hold and the bullish wedge be triggered and bought?
If yes, then the shortterm target @ the upper side will be the upper edge of the longterm uptrend @ 129,5.
If the strong support @ 121,5 does not hold, a fast drop till target @ EMA200 @ 118 could appear.
Below the EMA 200 a drop till the longtermtrend @ 113,6 could be exspected.
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.

Introduction into 1-2-3 Trading Pattern
Introduction into 1-2-3 Trading Pattern
snapshot


The (psychological) origin of a flag
The (psychological) origin of a flag
snapshot

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