Yahia.Awes
Long

#USDJPY I must be crazy, but this is worth a long!

FX:USDJPY   U.S. Dollar/Japanese Yen
653 17 17
Weekly in an uptrend channel . It has been retracing from a long climb and now it looks like the price wants to continue its journey.

At the moment the price is at support and the weekly bullish divergence is lurking
Comment: Looks pretty squezed now
snapshot
Hi,

It seems that you are assuming the lower level of your channel?? Isn't that dangerous?
Reply
Yahia.Awes Ichimoku_Trader
Can you show me a chart? I don't get the point.
Reply
Yes, look at your chart .. above
Reply
Yahia.Awes Ichimoku_Trader
Lower trendline in channel is the support. Why would that be dangerous? I always use candlestick patterns for entry.
Reply
how did u decide on that lower trend line?
Reply
Yahia.Awes Ichimoku_Trader
Can you see the potential high spin doji? With the massive bullish div?
snapshot
Reply
ok

thank you but you don't seem to get my point
I wish you the best
Reply
Yahia.Awes Ichimoku_Trader
I do get your point, this channel lower line has 3 touches excluding the one now. So that makes it a valid trendline.
Reply
hmmm

Where are they? I can't see them
Maybe you are referring to the one that doesn't have a swing after it?
Reply
Yahia.Awes Ichimoku_Trader
Channels aren't that easy as ichimoku ^ ^, but you have to zoom in to 4h tf to see the touches.
Reply
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