Akil_Stokes
Short

USDJPY: Rising Wedge Into Previous Structure (read description)

FX:USDJPY   U.S. Dollar / Japanese Yen
I’m looking at a rising wedge type of pattern forming here on the USDJPY             that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move.

I’ll be looking for short opportunities on this pair in the Live Trading Room, but we might want to keep out eyes on the 8:15 ADP number as we are still looking at a very bullish dollar.

This is my last active trading day for the week as I’m headed out of town but I didn want to leave you guys with a short video titled “How to Grow Your Trading Account” Here’s the link Here's the link to my youtube video "How To Grow Your Trading Account" here’s the link.

https://www.youtube.com/watch?v=Ib2cPfHvrC0

Hitting the LIKE button, leaving a comment and sharing on my youtube page would be a BIG HELP!
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Akil Stokes
Chief Currency Analysis at Trade Empowered
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important to sleep peacefully
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I thought you were a hunter
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Colleague of main early morning asked myself what about short idea on USDJPY - there is strong resistance zone. My belief is if price is knocking to often - finally someone will open the door - so made such picture :)
+4 Reply
stopped out !!
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I didn't know if he actually entered the trade that is why I asked
+1 Reply
Marvin FX_J4YD3N
I don't understand why he (Akil) is saying "looks like we were both right". The USD went straight north and would have stopped him out. Akil?
+1 Reply
please take another look at the candle as it spiked down 40pips on the ADP news this morning before correcting itself, you should be able to get a clearer ;look at the markets movement on anywhere from the 60-5min charts
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Here's a chart showing what I mean
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That's a perfectly fair question to ask so don't feel bad at all.
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