USDJPY 4 hour setup: - 4 hour head and shoulders reversal pattern - Inner trend line break and retest - Willis zone Fibonacci retracement - Extension targets line up with previous support levels - Daily ascending trend line is also an extra confluence with targets as price looks for a possible third touch of trend line Entry on break and retest of outer 4 hour trend line
After the much awaited NFP, We expect USD to make a big pullback! USDJPY is unable to trade above the mini structure 119.80 Our short for this trade is 119.70 stop is very tiny above 119.80-85. A break below 119.36 will give us a proper slide to 118.30 first target. Below here we expect the pair to trade towards 117.119. ENTRY: 119.70 STOP: 119.85 1ST TARGET:...
- USDJPY seems to be caught in a pretty clear range on 4h and 1h charts - resistance zone is between 118.60 and 118.90 - support zone is between 117.25 and 117.40 The daily chart has lower highs and price is mostly below 20EMA (on 1d chart), so I would prefer to short in that range, close but not reverse the position near support and in case price falls below...
I took a short at 118.70, Risk-Reward = 6.5 SL@ 119.10 (-40), TP@ 116.10 (+260) ____________________________________ what if: a. BOJ does not pressure on Yen b. ECB gives more uncertainty the next day and stocks tank, then Yen could sour and USD should fall before Davos - from technical point of view a pretty easy trade as there is a false breakout over...
Trading idea on 4h chart: Short USDJPY – looking for best short entry after NFP volatility - After last Friday’s volatility, which was positive for USD on the first glance, but ended to be negative for the USDJPY pair, I am looking to get short with the final target at about 116.00-116.20 - I like to rejoin the trend, which is down for me now (on 4h...
look short on short-term,but I will change to "Long" by going higher. First, there is the fact that broke the push-lows. Are rising strongly momentum now, but can not be ignored the above facts. Currently, I judge that have been struck by Resistance Zone. Points buying on dips for this rising are two blue zones. if "A-Zone" was cracked , decline would...
THIS IS A FOLLOW UP ON MY PREVIOUS POST. THIS IS MY PROJECTION FOR THIS PAIR FOR THE REST OF THE WEEK. IN MY FIRST POST I FAILED TO MENTION THE STRONG SUPPORT THAT EXIST AT 108.64 WHICH CAN CAUSE A SHORT REVERSAL BACK UP TO OPENING PRICE. KNOWING THIS CAN BE BENEFICIAL IN MANY WAYS. 1. IF YOU ARE ALREADY IN AN OPEN POSITION AND FEAR YOUR PROJECTION OF PRICE WAS...
Ii called it a psuedo-cypher because it doesn't exactly fit the ratio for a cypher, however if completed it's still present a nice trade opportunity. I'm watching the pattern along with the channel that has developed, a penetration of this channel line lower will put me in play for the pattern while a penetration upwards will negate this set-up. Let's see how it...
Lesson for this chart is patience: Wait for a break below close below of the two green line.