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MEX_Exchange
Nov 1, 2017 3:36 AM

USDJPY profit target reached perfectly, prepare to sell Short

U.S. Dollar/Japanese YenFXCM

Description

Sell below 113.85. Stop loss at 114.18. Take profit at 113.01.
Reason for the trading strategy (technically):
Price has reached our profit target from yesterday. We prepare to sell below major resistance at 113.85 (Fiboancci retracement, horizontal overlap resistance) for a push down to at least 113.01 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing strong resistance below 99% where we expect a corresponding reaction from.
Comments
dakkid
Stop loss hit. Too bad.
Reloaded_C
Nice. USD may fall a little, but it still strong
Childrenofmen
???
looptrading
How is that not a trend continuation trade to the upside at the 127/161.8 Fib?
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