As predicted last week we saw a bearish breakout on the USDJPY. After hitting a previous level of inside structure support we started to see a retracement, followed by a bullish pennant pattern to close out our trading week. It'll be interesting to see what the JPY looks like at the open with all that's going on in the southern part of the US but assuming we see normal markets, i'll be waiting for a breakout to the upside, creating a complex pullback and an opportunity to involve myself in a bearish trade.
As you can see on the chart i drew out a few killzones & Fibonacci levels, if you're interested in seeing how i did those in a chart it would be easier to simply watch this week's video instead of me writing a few extra paragraphs. I'm not being lazy...it's just Football season and the Packers v. Seahawks game is about to kickoff.
Akil Poor Everton, Glad i wasn't able to watch that trainwreck.
HI, @Akil_Stokes I also think it's a short term sell, before a bigger move to the upside. What's your opinion in the longer term?
Here's my chart if you want to check it out. I'd appreciate some feedback. Thanks in advance
Aqua_Trader
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Akil_Stokes
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@SN_Doumet, Nice chart, I'm not a trendline trader so my opinion won't really help you. I appreciate you sharing however.
Akil_Stokes
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@SN_Doumet, Thanks, my longer term outlook is currently short as well
Aqua_Trader
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@Akil_Stokes, Thanks for the immediate reply Akil :)
Akil_Stokes
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@SN_Doumet, No problem, sorry i couldn't be more of a help. Just different trading styles that's all.
Aqua_Trader
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@Akil_Stokes, no no problem at all, as you said we all use different styles :) ..thanks for the interest nevertheless :)
Akil_Stokes
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@SN_Doumet, You're welcome
Raymond_Jeffries
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Im sorry you couldn't watch the Tottenham game it was a beaut! #COYS (Massive Spurs fan mate sorry couldn't help myself). Btw thanks for these awesome trade ideas from you and everyone on the Trade Empowered team. You guys really helped me get my psychology right and progress as a trader and focus on the important qualities of learning this skill.
Akil_Stokes
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@rjeffries2052, Thanks, Aside from Everton, Spurs would be my second favorite team, however that didn't make the whooping feel any better.
Here's my chart if you want to check it out. I'd appreciate some feedback. Thanks in advance