FXLifestyle
Short

Major Confluence!

FX:USDJPY   U.S. Dollar / Japanese Yen
Weekly: Price is approaching a Weekly Supply Zone that served as a previous 2x Top Neckline, it also wants to possibly retest the broken weekly triangle support trend line .
Daily: Price will be looking to complete its extended 5th wave. Bearish Divergence.
4 Hour: Price broke through the Daily 0.27 FIB and is currently retesting it, if it breaks through the 4 Hour 0.618 FIB, price will extend to the 4 Hour 1.618 FIB in confluence with the Daily 0.618 FIB where it will find major resistance

**Waiting for bearish confirmation between 111.000 & 112.000**

FXLifestyle - Trade Your Future
Comment: Price is stalling around 111.000 price point. Watch for bearish confirmation
Comment:
Nice rejection off of 0.270, adjusted my original fibs.
Waiting for a nice engulfing candle to form, RSI to cross under 70. Will update soon on my entry
Trade active:

USDJPY playing out as expected. Entry was initiated last night. Price broke trendline, adding 2nd entry when price prints a bearish engulfing candle off the trendline
Trade active:
Trade closed: target reached: https://www.tradingview.com/chart/bYQUHz...

TP reached. Looks like a possible H&S will forming in correlation of a pull for correction wave B and then further downside with confirmation of H&S and next correction wave C.

Will be looking to re-enter after pull back!

Playing out very nicely!
Trade active: price broke and retested H&S neckline
Trade active:

Adding 2nd entry
Thank you :-)
Reply
TP1 108.000 & TP2 107.500
Reply
Thank you - what is TP?
Reply
Your welcome
Reply
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