USDJPY POTENTIAL SHORT OPPORTUNITY
USDJPY POTENTIAL SHORT
USDJPY is starting too display signs that the buyers may be dying out and that it may be time for a pullback/reversal on this pair. We have seen an uptrend in this pair since beginning of October at least and on the 4H it is displaying some signs on seller momentum and buyers weakening. USDJPY is also sitting in the area of multi-year highs and now starting to see some seller momentum come in. Remember we always let the market show us what it wants to do next so that we can analyze and go with the players that are actually moving the market. Lets take a look at it.
1D Chart:
*on this timeframe you can see that price of USDJPY is sitting at multi-year highs
*this is a significant area to watch and see how the market reacts in this are and if the sellers have enough control to have price hold at these levels or not
*watch for lower low lower close on this timeframe as well as stronger seller momentum
4H Chart:
*if you take a look at this chart you can see that the buyers are dying out and it looks like a top is being formed around 114.00 handle
*sellers are coming in stronger than the buyers which is displaying good seller control and it may be a matter of time before they pull this market to the downside for some relief or a reversal
1H Chart:
*use this timeframe to be really precise of a break and hold of the structure forming at this top for a possible potential downside move
*also use this timeframe to obtain a more precise entry/exit for this pair
REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WITH YOUR TRADES. ALWAYS STAY DISCIPLINED TO YOUR TRADING PLAN AND NEVER RISK MORE THEN 2% OF YOUR TRADING CAPITAL. IT'S NOT ABOUT MAKING MONEY ITS ABOUT PRESERVING MORE SO.
Cheers! Please follow my page for more trades!
USDJPY is starting too display signs that the buyers may be dying out and that it may be time for a pullback/reversal on this pair. We have seen an uptrend in this pair since beginning of October at least and on the 4H it is displaying some signs on seller momentum and buyers weakening. USDJPY is also sitting in the area of multi-year highs and now starting to see some seller momentum come in. Remember we always let the market show us what it wants to do next so that we can analyze and go with the players that are actually moving the market. Lets take a look at it.
1D Chart:
*on this timeframe you can see that price of USDJPY is sitting at multi-year highs
*this is a significant area to watch and see how the market reacts in this are and if the sellers have enough control to have price hold at these levels or not
*watch for lower low lower close on this timeframe as well as stronger seller momentum
4H Chart:
*if you take a look at this chart you can see that the buyers are dying out and it looks like a top is being formed around 114.00 handle
*sellers are coming in stronger than the buyers which is displaying good seller control and it may be a matter of time before they pull this market to the downside for some relief or a reversal
1H Chart:
*use this timeframe to be really precise of a break and hold of the structure forming at this top for a possible potential downside move
*also use this timeframe to obtain a more precise entry/exit for this pair
REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WITH YOUR TRADES. ALWAYS STAY DISCIPLINED TO YOUR TRADING PLAN AND NEVER RISK MORE THEN 2% OF YOUR TRADING CAPITAL. IT'S NOT ABOUT MAKING MONEY ITS ABOUT PRESERVING MORE SO.
Cheers! Please follow my page for more trades!
Trade closed: target reached:
USDJPY coming into Target 1 ! Close 50% of positions and move stops to 15 pips profit for other 50%. Cheers!
Trade closed: stop reached:
Trailing Stop for second half of positions closed. Good trade ! Cheers !