JazzForex

Short trade on the Ninja

FX:USDJPY   U.S. Dollar / Japanese Yen
Its been a while since I last published something. But because TradingView has just implemented an awesome new feature, the video idea, I thought I would publish a new idea to see how it works.

Its a simple idea on the Ninja based on confluence with a nice risk-to-reward. Check out the spoken commentary for further details and let me know what you think of the idea and the new feature.
You don´t need to be a weatherman to know which way the wind blows - B. Dylan
hi do you enter with limit orders?
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Awesome feature. And agree with the idea. Im trading an harmonic pattern my second TP is at 110.10
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JazzForex IvanMadrazo
@IvanMadrazo, Nice, good luck and happy trading. Lets make some pips!
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<3
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JazzForex TheZabisyu
@TheZabisyu, Thanks for the love hehe.
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Friday I watched this pair for 24 hours and as it approached 111 it was expected to bounce off support a couple of times but then it climbs away from support like it's following a new trend and for hours the same patterns are drawn on many time scales. Patterns that are perfect at letting the average trader believe that the next step is the fall through 111, let's call them pre-drop patterns.

The pattern is identified by 1 or 2 green bars followed by 2 or 3 red bars, each increasing exponentially in length. Unfortunately, every time after een exponential increasing drop the move is cancelled and the price starts to climb again. In normal market conditions this pattern is rarely seen and always confirms a massive drop following. This time it's drawn over and over again and cancelled to move the price to a higher level, away from support, eating from short positions, into areas full of stop orders, margin calls and manual panic exits.

Instead of a small trend upwards, the price is following a completely random path and repeating this pre-drop pattern. At Monday opening it holds the same position again. But if you take a close look at all time scales you will see it is still being pulled back a lot by buyers and then it's confirmed when the move is cancelled again as the price gradually climbs back up. Taking your analysis at hand this could go on for another 2 or 3 days. That would be the same as the week before last week when the first big fall also happened on Wednesday. Although, as the highs are flattening out it could be earlier.

Thanks, I am all geared up now :)
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JazzForex ArnaudKleinveld
@ArnaudKleinveld, Thanks for your elaborate comment and I learned a new word: "pre-drop patterns".
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Love the spoken commentary, not sure about the idea though i'm still a noob :/
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JazzForex PeterSilva
@PeterSilva, Hi Peter, I am glad you like the new commentary feature, I think it will become very popular!
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enjoyed the video input and your outlook on UJ thank you
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