The explanation for this analysis is in the text on the chart This expectation is a framework to look for a potential trading setup; I don't just execute based on these levels. I always wait for confirmations on lower timeframes This Analysis was done using my complete Strategy, which includes the: - Smart Money Concepts - Multi Timeframe Liquidity and Market...
I had to publish a new chart because the JPY Futures contract rolled over, resulting in a large gap in the continuous contract that I initially shared. Both take-profit targets were achieved perfectly! Linked to this post is the updated chart.
We have a nice intra-week setup on the USDJPY here that could lead to a continuation of the downward trend in the form of a Bearish Shooting Star with Bearish Divergence at the PCZ of a Bearish Shark on the Hourly Timeframe
Type : Bullish Rise Resistance : 0.0071705 Pivot: 0.0070675 Support : 0.0069015 Preferred Case: On the H4, with price moving along the ascending trendline and RSI is showing an ascending trendline, we have a bullish bias that price may rise from the pivot at 0.0070675 where the 23.6% fibonacci retracement is to the 1st resistance at 0.0071705 where the 38.2%...
Type : Bearish Drop Resistance : 0.0072125 Pivot: 0.0070865 Support : 0.0070165 Preferred Case: On the H4, with price moving below the ichimoku indicator, and within the descending trendline, we have a bearish bias that price will drop from pivot at 0.0070865 where the current price and 78.6% fibonacci projection are to the 1st support at 0.0070165 where the 100%...
After news release for US Dollar, 6J Futures JPY USD seems to be developing a more clear market structure and completing a bullish Shark formation. When price reaches the marked zone it would be wise to look at price action behavior around the area to see if price provides us with a valid entry for long opportunities.
Yen is expecting to see a big resistance at level 0.008989
Event to watch : FOMC meeting on 17 Mar BoJ meeting on 19 Mar
We have a Buy signal for my Prediction Stop loss and Take Profit on the Chart
Sell signal for my prediction Stop loss and take profit mentioned on the chart
Probability: 65% for my prediction the market will keep going up The Take profit and Stop loss mentioned on the chart.
Probability: 65% The market will keep going up. Stop loss & Take profit Montioned on the Chart.
Probability: 65% The market may keep going up and achieve our Target Stop Loss and Take profit as montioned on the chart.
Probability: 65% the market will keep going down and we have a Sell Signal! Take profit & Stop loss on the Chart.
Probability: 65% SL AND TP AS YOU SEE ON THE CHART if the candle cut with Force the TP ( u can use it as a Resistance )
Probability:65% We are in a downtrend but we have a good probability ( maybe > 65%) the Market will keep going up and cut the TP TP & SL : on the Chart Bonus: if the a Green Candle Cut with Force the TP ( u can take a second position and buy again and choose your own TP & SL)
the 6J! will keep going up: 65% probability from the downtrend => start of an uptrend Take profit: manually when u got a green candle with a tall wick above it followed by a red candle.
the market may keep going up: 65% probability