fxidgroup
Short

USDJPY high probability setup

FX:USDJPY   U.S. Dollar/Japanese Yen
129 4 5
Scenario #1
After yesterday strong bearish engulfing , that engulfed 2 daily candle before.
Today, the market try to retrace and might be testing the key resistance.
if bounce or cannot break the resistance or daily candle closed below this level,
we go short with target to the key support.

Scenario #2
If the daily candle break the resistance...
we will wait and see for a
retrace, confirmation, continuation and possible long.



Trade active: scenario #1 is ON.
yesterday daily candle close below the resistance.
but today, the price is trying so hard to break the key level resistance,
Comment: today, the price try to break the 104 level..
but fail.
so, scenario #1 is still ON!
Comment: its happening :) hooray
Comment: Yesterday, my trade was activated with scenario #1
Lets see where its going
Comment: ups..
Comment: bear and bull still fighting on the key level resistance...
Comment: yesterday, bear win the fight..
price break again the key resistance...
Comment: consolidating on the key resistance...
Comment: many traders was trap to go long...
today.. bear might win the day..
Comment: another consolidation
Trade closed: stop reached
Good analysis! I'll likely look for a long entry if it can consolidate above 104.00.
Reply
fxidgroup roni511
yup, there's a possibility..
if that happen, my SL got hit :)

But if not break the 104, my short still valid.

thanks for comment bro...
Reply
fxidgroup fxidgroup
by the way, I always waiting for daily candle close before any confirmation..
Reply
fxidgroup roni511
Yesterday, price was trying to break 104 but failed...
Reply
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