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
Agree. Saw the R/R potential this morning and longed it.
+1 Reply
For my sake I hope it continues down a bit more before heading back up. Good analysis, stick with your plan:)
Reply
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
ok

thanks
Reply
Ichimoku_Trader Ichimoku_Trader
so it is a channel on a smaller TF that you are showing on your weekly chart and that is supposed to show you the bigger picture

Interesting approach
Thanks
Reply
Yahia.Awes Ichimoku_Trader
You are welcome, I also use ichimoku, but channels are my speciality to counter the trend.
Reply
Great idea

You can also use ichi to counter trend by going on a lower tf
Reply
Anyway,

I wish you the best
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out