Hello everyone. On Oct.21st, I've published a short idea of USDJPY, titled 'USDJPY Bearish setup on 4H'(refer to the linked idea for more details). I draw the entry zone on the chart and it worked very well. You can ear up to 100bps in 10 days. Not too bad, isn't?
As you can see from the 4H chart, it kissed the entry line before dropping to another level where daily demand zone was just sitting below the 4H long-term MA. The structure prevents it from further falling, though, Potential Target level is 111.7.
I think price needs to choose where it finally go. Here I prefer to the monthly chart that the pair will go down. I will keep closed eye on how price will react to the daily zone. It has to take out the daily before further drop to level.
So, we can make a plan in advance as below:
1. Set alerts below the daily zone as a gentle reminder.
2. Wait for pullback and retest short opportunity.
3. Pull the trigger.
What do you think? Give me a like if you're with me.
As you can see from the 4H chart, it kissed the entry line before dropping to another level where daily demand zone was just sitting below the 4H long-term MA. The structure prevents it from further falling, though, Potential Target level is 111.7.
I think price needs to choose where it finally go. Here I prefer to the monthly chart that the pair will go down. I will keep closed eye on how price will react to the daily zone. It has to take out the daily before further drop to level.
So, we can make a plan in advance as below:
1. Set alerts below the daily zone as a gentle reminder.
2. Wait for pullback and retest short opportunity.
3. Pull the trigger.
What do you think? Give me a like if you're with me.
plan your trade and trade your plan
