Get started
NDOBObanks

USDJPY Long with 2 confluences (Zero Indicators)

Long
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
NDOBObanks Updated   
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Wave Analysis Chart Patterns nakedtrading nakedforex cleanchart usdjpylong usdjpydaily trendtrading noindicators
0
2
trendanalysis waveanalysis chartpattern nakedtrading nakedforex cleanchart usdjpylong usdjpydaily trendtrading noindicators
Confluence:
1: Price is trending bullish on the daily time frame making new highs and higher lows.
2: Price Broke out and closed above previous weeks high on the daily time frame.


Entry:
Wait for price to come and test the area around the lows of the current week, creating a Higher low before continuing to the target of 108.500.
Comment:
Price is still 37.5- 40 pips away from the low of the current week. If you take a look at how the previous daily candle has closed, it shows selling pressure in the form if a bearish pinbar pattern formation. Its still too early to enter. Its best to wait and see how the current daily candle closes. We need price to move more towards the low of the current week.
Comment:
Pais moving nicely towards target. Got a late entry. It better to wait than enter too soon and get stopped out.
Comment:
Target reached!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.