Olu
Short

UsdJpy: More Downside Ahead?

FX:USDJPY   U.S. Dollar / Japanese Yen
425 13 10
Comments on the chart. This idea is based on a trendline break and a bearish MACD
Comment: Trade idea is still intact. Pair attempted to move up but failed. Risk aversion in play today in the markets which is generally good for the JPY
Comment: Idea still in play as price has not closed above the trend liine
Comment: Boom!!!
my friend you are a very experienced guy i think we have not broken the bullish trend channel and the price is still playing in the channel and we may see bulls back in coming weeks this is a just minor change in the structure and the broken line is not a trend line here is the example bro
snapshot
Reply
Olu GoodLuckbabe
I hear you Imran. Drawing trendlines has always been subjective to traders. Your scenario is very possible. Hence the reason why I have stops on my trades. Nobody knows what the markets will do and as technicians we just try to interpret the markets as we go along.I have tight stops if I am wrong. And I have been wrong many times before. What is unforgivable is not sticking to the trade idea.
Reply
thats wright i am fully agree with you sir no one can predict this market %100 into their way every time but what we can do just minimize our mistakes. i hope price will go into your way good luck sir.
Reply
GoodLuckbabe GoodLuckbabe
Reply
GoodLuckbabe GoodLuckbabe
these are my thoughts sir
Reply
GoodLuckbabe GoodLuckbabe
snapshot
and the bigger picture
Reply
Olu GoodLuckbabe
Hi Imran
Your EW count idea is very possible. I also believe jpy will get weaker long term. However I believee this will be after a bout of strength. A lot hinges on the stock market. If risk aversion enters he market then tock market will fall and people will run into jpy for safety. At the moment the market is poised for a fall. We will see how this plays out. I am not married to to the idea of only a fall will happen. I am a trader and will go with wherever the market is going but it has to first negate my current stance.
Reply
snapshot
yes Olu sir what do you think now this is what i was expecting at that time price will not close below the pin bar cause pin bars shows the strength of particular trend i hope you made some pips when there was bearish trend now let see will we see break or one more down move one more down move is possible but the impulse is very sharp it may break on this impulse.
Reply
GoodLuckbabe GoodLuckbabe
Reply
Olu GoodLuckbabe
Hi Imran. I have no choice but to get bullish now. I have made some $ being bearish usdjpy. So now the true trend is coming back. So I think we need to position long looking for 135 area.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out