wuweitrader
Short

USDJPY - An energy point and trade setup

FX:USDJPY   U.S. Dollar/Japanese Yen
134 2 2
There was nice clumping down near the blue c-pivot. But this is not a true c-pivot, it is merely a potential pivot that I am watching.

What is more interesting, perhaps, is the sliding parallel off of the red down-sloping median line set that has been tested a number of times and is holding. The Pink Modified Schiff also (with its sliding parallels) appears to be catching frequency - and both are pointing downward with a nice energy point that already played out.

I would be watching for what happens as price retests (if it goes that low) the blue lower parallel and the pink modified schiff median line.

More importantly, perhaps, is the MPL             sitting below, that might represent its greatest challenge.
wuweitrader
2 years ago
stopped out; just like I like it - if it's not working, take me out quick!
+1 Reply
itaskar wuweitrader
2 years ago
haha :) I agree
Reply
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