anilmangal
Short

USDJPY sell setup.

FX:USDJPY   U.S. Dollar/Japanese Yen
9076 39 221
The USDJPY             broke out of the 240 up trend and is consolidating under the trend so selling the breakout of the consolidation is a good idea.

Thank for your support
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Comment: Stops moved to BE
Comment: If you missed it the recordings of today's free webinar on Advance patterns
Comment: http://www.youtube.com/watch?v=X478CjvtrDA
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Sir sold it from 123 level any idea what should be a good target ?
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120.8
snapshot
+2 Reply
KayJay CajunXChange
thanks
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Divergence is also there....
+1 Reply
It is growing now. You think it will fall soon?
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KayJay Henrik93
The safest trade is to wait for the break whereas I'm already short....... being a little aggressive here
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KayJay Henrik93
I believe that the trend will resume down again after testing 123 level again
+1 Reply
wait for breakout
+5 Reply
sumathidenward anilmangal
im following u anil i will wait for the break and i will enter ....
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masud18993 anilmangal
can it breakout for 1 h chart
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KayJay masud18993
Let see
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masud18993 anilmangal
anil ji wht is the tp for this trade?
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Looks like we have a break down
+2 Reply
sketchmaster PRO QuantitativeExhaustion
It sure does. :)
+1 Reply
Breakout conformed on H1 and H4 .. can anyone define a target for this trade.. my guess is near about 121.50 level or so.. Thanks Anil
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KayJay fpatel15
121.600 perhaps
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fpatel15 KayJay
Thanks good luck mate :)
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KayJay fpatel15
You too mate :)
+1 Reply
Re4VeR fpatel15
I would say a lower limit of 121.3, so being conservative 121.5 could be a good target.
snapshot
+1 Reply
Re4VeR Re4VeR
But don't blame if it turns before!
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Sir @anilmangal i really appreciate that you post such wonderful setups, thank you and keep doing good work :)
+1 Reply
I don't trade forex, but that is nice chart mate.
+1 Reply
I have missed entry on this one, looks like we having a leading diagonal, I'll wait and see and try to catch wave 5 of 1 if it keeps behaving within the structure rules
snapshot
+1 Reply
nice
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Is the sentiment change or are we just correcting ... any idea guys..
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reversal trend to point 5
+1 Reply
Re4VeR ZARO00
I hope so! The 3-4 leg has been very strong but It seems to be reversing now. Thanks for your post!
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fpatel15 ZARO00
We hit our BE as suggested by anil but yeah i saw an bearish engulfing pattern that just formed on H1 chart so i sold again... hope it holds 122.95 level and head for 121.60 first TP...
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Am I doing it right or wrong ..
snapshot
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KayJay fpatel15
doing it right, just observe the three basics rules and you wont find much trouble
+1 Reply
Actually, the EW rules are really complex. There's a lot more to watch than 3 rules.
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KayJay IvanLabrie
Yes, Ivan there are but the most simple way to trade them is to trade the 3rd wave's because either it's trending or making a correction market will move at least three moves in one direction :)
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It goes beyond that. How to define a wave, and other subtle things. I mean, it's not as simplistic as you may seem. Your definition has to be objective, repeatable and rules based, for me at least.
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KayJay IvanLabrie
@Ivan your absolutely right on that their are not simple coz otherwise everyone would have been millionaires by now :)....... as usual great advice from you.
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Thanks for sharing the webinar on youtube, I could not make it on time. It is good that people can catch it up later.
+2 Reply
You are welcome, please share it
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Gosh Anil, never seen so many charts posted.
Your fan club is growing. I'll join, I don't mind sweeping the floor:)
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USDJPY


Great work anil
what do you think about this update view?
Reply
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