The price is extremely bullish in all major time frames. If we look at the non-commercial's positions, we can see that short are aggressively increasing in JPY. Meaning JPY is getting weaker.
Monthly:
The price is in the retracement phase. If you take the fib form low to high of the retracement, .5 fib level is in confluence with important structure that the price respected.
Daily
The price created the 123-pattern stablishing a low. The price liquidated important sell side liquidity. We can expect the price to chase important buy side liquidity.
Non-commercials are aggressively adding shorts in JPY. This mean that they are selling the JPY aggressively. JPY long positions: 40,736 short: 136,929. Added last week short: 3,976 long: 19,509
As you can see short are way more and they keep aggressively adding more shorts.
Monthly:
The price is in the retracement phase. If you take the fib form low to high of the retracement, .5 fib level is in confluence with important structure that the price respected.
Daily
The price created the 123-pattern stablishing a low. The price liquidated important sell side liquidity. We can expect the price to chase important buy side liquidity.
Non-commercials are aggressively adding shorts in JPY. This mean that they are selling the JPY aggressively. JPY long positions: 40,736 short: 136,929. Added last week short: 3,976 long: 19,509
As you can see short are way more and they keep aggressively adding more shorts.
Trade active
Comment:
If you applied a conservative stop-loss, this trade is still active. It is expected to reach the take-profit level between today and tomorrow, hopefully before the Fed rate decision. However, due to the anticipated volatility, it would be preferable to close the position earlier. I'll keep you updated.
Comment:
Trade is looking great. The price is very close to reach TP
Trade closed: target reached
Wiiso
