AbhishekHSinghCMT
Short

USDJPY- Sell Setup- A short term top@113.89 is in place

FX:USDJPY   U.S. Dollar/Japanese Yen
667 28 24
Current Price@112.28

Likely a short term top is in place@113.89- I am keenly watching for that lucrative sell setup where UJ looks to move initially to 111.15-111.35 zone where it could find next support or profit booking going below 112 or shall be looking to sell on a bounce in the 112.40-112.50 zone which is 61.8% pullback of the current fall from 113.20 to 111.35

Strict Stops@ 113.35

Short Term Divergence at top@113.89
snapshot


Previous Analysis- Got in the bulls shoes at 110.85
USDJPY- Possible Ending Diagonal (E.D) -Wedge (Premature)
Comment: 17:01 Hrs 28th Nov2016

AUDUSD Analysis

Last Price@0.7465

AUDUSD is moving in the desired direction from 0.7365

AUDUSD-Is C-wave done between 0.7310- 0.7330
Trade active: 19:13 Hrs 28th Nov2016

Last Price@112.65

Suggested that we will look for selling in 112.40-112.50 zone - UJ has stretched a little bit upside so taking sell is risky & if it starts moving above 113.30 swing high -it will try to go close to previous high@113.89 or even higher.

So avoid any sell in current scenario & we shall wait- keeping in mind that the bulls are still active
Trade active: 18:26 Hrs 29th Nov2016

Last Price@112.90

113.35 -Strict Stoploss should work wonders - UJ just went close by to 113.13-just now only 17-20 pips away- likely falls if goes below 112.79 & sustains or falls below the rising blue trendline.

snapshot
Trade active: 20:12 Hrs 29th Nov2016

Last Price@112.89

Recent low@112.80

The magic of 113.35 - UJ takes U-turn with just 1 pip remaining on the top - downside just bounced from 112.79- magical levels likely some bounce & fall below 112.79 will continue the fall for UJ
snapshot
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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UJ setup is still valid as it is reach 12.708 now ?
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@gulz, @gulz, No- it cannot cross 112.60's as it is going deep upside & if it starts moving above 113.30 swing high - It will start go close to previous highs@113.89 or even higher.
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gulz AbhishekHSinghCMT
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@gulz, Likely UJ is starting down again so I will watch any bounce closer to 112.79 -recent high, if it goes closer & starts falling below 112.35-112.40 then likely to get down move with 30-40 pips risk- target could be 111.15-111.35 zone first
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, great .. watching the movement
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Abhishek Sir, do u mean trade is active only if UJ goes down below 112.79 ?
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@gulz, Yes- that is small setup in between but likely UJ should dip going below 111.30 lows
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, Shorted @ 113.258 :)
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, wow.. it's worked nicely
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@gulz, Great. UJ turned from 113.34 saved 113.35
+1 Reply
gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, whats the strategy now ? limit setup @ 112.79 or should watch the price action ??
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@gulz, If goes below 112.79 & Rising trendline likely indicates that it fall further down but not straight away it will bounce & then again
Reply
AbhishekHSinghCMT PRO AbhishekHSinghCMT
@AbhishekHSinghCMT, Just kissed 112.80 -likely bounces back so every bounce we will look to sell & become confident if it breaks below 112.79
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gulz AbhishekHSinghCMT
Reply
@gulz, welcome
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, UJ broken n moved below 112.79 .. :)
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, fresh shorts are advisable now at 12.613?
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@gulz, No- either you sell close to 113.00-113.30 so that upside risk is less as it seems that UJ will move range bound between 111.50-111.75 to 113.00-113.35 going below 111.35 on down will open new downside.
+1 Reply
gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, Noted , Thanks
Reply
@gulz, As UJ is heading in slanting direction -it is for sure it is going to fall, but stops of 113.35 shall be no more valid- safe selling can happen below 112 level.
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, Waiting for UJ to reach around 13.700+ for shoring - any views ?
snapshot
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@gulz, yes that could be good place near by 113.60--113.70
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, stoploss triggered at 113.98
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@gulz, From where you got stoploss@113.98
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@gulz, I even had that doubt so I also wrote that safe selling will be below 112 mark & going above 113.35 was kind of risky.
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, knew it was risk, however stoploss saved this time - will wait for new ideas :)
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@gulz, Likely going above channel was bad for selling as it cannot move out of channel upside that invalidates the structure. Everyone is forcing that UJ will come down but its not happening - small down move & comes back hard on bears.
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gulz AbhishekHSinghCMT
@AbhishekHSinghCMT, bears may not be able to take control till the fed meet happens -- just a guess :)
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