CoreyStewartFX
Short

USDJPY 4 HOUR MARKET FLOW (PERFECT FOR NEW TRADERS)

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
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Perfect Example of how the market moves in waves and a constant battle between Bulls and Bears.

Here we have USDJPY 4 hour chart showing us perfect examples of lower highs and lower lows indicating a bearish market.

how do we determine when to enter a market is the hardest part for new traders.

Using the Fibonacci Retracement tool we are interested in the C leg of the A,B,C,D formation

A- swing high or low
B- swing high or low
C- is the retracement we look to enter on
D- is our predicted price target

this system is very easy and straight forward and also can be used to add positions and maximize on a move in the markets in the safest way buy added positions at each C retracment.

once a lower high has been made we can move our previous entry into profit protecting capital as we trail the move down.

Current market USDJPY im expecting another C leg to be formed as shown with the Stop Loss and Take Profit Indicator with projected target at D


This is the most clean and beautiful chart I've ever seen. This is how technical analysis should be. I nominate this post as trade of the day.
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