FX:USDJPY   U.S. Dollar/Japanese Yen
126 6 9
details in the chart.

in my opinion only.

please make decisions based on your strategies.

happy green :)
why short? can you give me your reason?
Reply
investwisely2016 rama.anandhita
hi. i appreciate your question. the reasons for short are as below:-
- the price has failed to break the downward trend-line for months.
- 2014 feb - aug (floor pcie - support) was breached in 2016 june, july and august - three times but the price pulled back up.
- currently its in consolidation - the rectangle box
- cci (yellow colored oval) is is moving up from oversold and price is making lower high on daily
- moving toward the end of the triangle.
- higher possibility of short.

i like constructive feedback/debates and appreciate them as these can improve both knowledge and experience. feel free to share your opinion.

kind regards
Reply
rama.anandhita investwisely2016
snapshot

I think the price will drop to 100.084 then bounced back to the top.
Reply
investwisely2016 rama.anandhita
thanks for sharing your opinion. honestly speaking, i dont know how to trade the harmonic patterns. a friend on tv suggested me to look in to it and i have started to learn them. i looked at few patterns/charts from the tv traders and they seem to be valid/working. i will be waiting for the price to break out of triangle.
watching it closely - especially next week.

would you be waiting for the price to break out of triangle as confirmation? - just a general question on trading harmonic pattern
.
meanwhile, do u use any template, scan for the patterns? asking for learning purpose..
Reply
rama.anandhita investwisely2016
I will set a buy position with a wait at 100.08, stop loss 99.53.
Reply
investwisely2016 rama.anandhita
thanks mate. much appreciated. waiting next week :)
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