Recent JPY strength
Downside breakout-retest on D1, with a bearish gartley.
Fibonacci 50% and resistance is being met.
What can cause this trade to fail?
JPY may implement further measures to ease their economy and devalue their currency.
JPY depreciation will cause SGDJPY to rise.
The green shaded area is the Monthly tenkan area which was broken in the 1st half of October,it was also the weekly Kijun back then. This breakout was never tested and we know if price is to really go further it needs impetus from a breakout test. Our trade is this breakout test. So we take this trade on the daily after having broken the daily tenkan to the...
If weekend gap and the priceaction that follows it respects the current 141 fib extention we could see a cypher pattern in the making.
For better r:r then trading the completion zone i like to trade C point till D point.
This does however require a little bit more confirmation.
For how it looks now my target will be the completion zone of the cypher, stop can...
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so more...
hello and welcome traders big opportunity SGDJPY is going down first we have divisions signal in RSI witch is great
also in the daily fram it was going up then its bouncing in the top to go down
also in the hourly chart a good RSI divisions shown to go down to the fors arrow could and could be more
Chart time frame - H4
Timeframe - 2-4 Days
A – Activating Event
Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first Target 1 level @ 77.40