Cmasterza

USDJPY setting up for a possible short

FX:USDJPY   U.S. Dollar / Japanese Yen
Price is currently trading within an ascending triangle pattern when viewing on the weekly time frame, refer to the attached link for the chart view (https://www.tradingview.com/x/XYKvloMX/). If price reaches the supportive trend line , price action can be applied to look for a buy signal unless the trend line is broken to the down side...

For now my focus is on the D1 time frame where I have spotted a potential sell setup emerging that can be traded to the support trend line before looking to buy, based on the ascending triangle pattern mentioned above.

# 110.758 is a level that holds significance based on my analysis on a provisional short term view, this is where I will look for a signal from the market
# Factors of confluence will be considered before opening a short
# Targeting +/- 109.000 where the previous swing low is located would be an ideal first target

See live examples by following me in Forex Bootcamp using the telegram link below.

You can join my mailing list at https://zc.vg/sf/tbDID to receive trade ideas, strategies and training from time to time. There is no fee so please feel free to take advantage.

I have a custom indicator, a trading robot and a premium investment research option that you can enjoy - please email me to request more information.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out