USD/JPY - Speculating a Breakout and an Idea of an Ideal trade.
Currency Pair: USD/JPY
Date: May 03, 2019
This is an application of the few rules I have learned about trading forex.
- Support and Resistance
- Pattern Trading
- Price Action
- Trends
Some thought on this pair:
The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things.
(1) Bounce
(2) Break
(3) Float
These three things could happen in a combination kind of like a boxing combo. Or as simple as one. These 3 principles are relevant to price action at its current price and range. Keep a lookout for this pair. Whether I am correct or not I think in the next 140 days you will either catch a lot of pips trading a up/down - trend. Once the trend is established I know I will be on a lookout. Wish you luck in the ability to catch the opportunities while you can.
Change the different timeframes to see the full technical analysis.
Trading Journal Entry: 1
By: Austin S.
Date: May 03, 2019
This is an application of the few rules I have learned about trading forex.
- Support and Resistance
- Pattern Trading
- Price Action
- Trends
Some thought on this pair:
The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things.
(1) Bounce
(2) Break
(3) Float
These three things could happen in a combination kind of like a boxing combo. Or as simple as one. These 3 principles are relevant to price action at its current price and range. Keep a lookout for this pair. Whether I am correct or not I think in the next 140 days you will either catch a lot of pips trading a up/down - trend. Once the trend is established I know I will be on a lookout. Wish you luck in the ability to catch the opportunities while you can.
Change the different timeframes to see the full technical analysis.
Trading Journal Entry: 1
By: Austin S.
Comment:
Part 1/4