glennmercer
Long

USDJPY Long: Potential Expanding Triangle, Bat, Missed Pivots

FX:USDJPY   U.S. Dollar/Japanese Yen
Hey traders! USDJPY             is approaching a potential reversal zone that could spark a large bullish move. A bullish bat is nearing completion near the descending trendline . Missed weekly and unhit weekly pivots sit above price. The .382 fib is also confluent with the missed pivot from last week which may signify a nice supply zone . Movement past the 1.272 mark could mean further bearish movement so that's where I put the SL. Targets at the nearest weekly pivot and the missed pivot from last week. Entry near point X of the bat should price reach those levels. This entry is also confluent with the short-term descending channel shown in gray.
Comment: Price has entered PRZ. Playing this conservatively by waiting for a 15m close above trendline before activating entry.
Comment:
snapshot
Trade active: Entry activated, SL below lows with same target. Yields a R/R of 14.8.
snapshot
Trade closed: stop reached: Exit and wait for new signal
close on D:
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out