themikewwfx
Short

USD/JPY - Bearish Engulfing Candle Retesting Trend Line

FX_IDC:USDJPY   US DOLLAR / YEN
A great bearish engulfing candle formed on a nice retest of a long term bullish trend line after breaking through back on 03/17/16.

Intraday charts showing bullish pressure being broken down and the bears completely taking over.

Easy 1:1 RR to the recent lows and from there price could dip all the way to 106.00 for closer to 5:1

NFP coming up can stir up some concerns, but im trading this completely technical.
Trade closed manually: Closed out this trade because price action was not giving me the reaction I was expecting the next day. Break even trade
Comment: Patience is key here folks! Correct analysis and missed out and a large amount of profit because of a small bit of support in price on a weak S/R line. Lessons to be learned here everyone!
Patience is key here folks! Correct analysis and missed out and a large amount of profit because of a small bit of support in price on a weak S/R line. Lessons to be learned here everyone!
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