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popesalmon
Mar 20, 2020 8:29 AM

USDJPY 4H 20032020 Short

U.S. Dollar/Japanese YenFXCM

Description

Applied negative extrapolation to plot the pitchfork on. Showed a good sign of respect. and because it reverses from the upper parallel and plus the fact that it's respecting the Fibonacci anchor points, I placed a short to the 0.5 ratio

The price will likely still continue to trend upwards until hitting the significant high. Therefore this is a quick trade that I want to see if the set up works or not.
Comments
transparent-fx
nice pair to follow, I have it too on watchlist
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