Not expecting much on the upside of this zone but who knows it may challenge the high if it moves up with momentum. Based on recent structure I will be setting a sell stop at the bottom of the zone (pink triangle)...heading to the next psychological level @1.1200.
This Set it and Forget it setup will be managed by my EA moving stops at various increments to lock...
While I am still bearish on the USDJPY I can see a short-term scenario where this pops up to test 108.00 again. Buy stop coming out of the 107.00 SiFi4X Zone will be there just in case. Losing this 107.00 zone though is a long road down with the first stop at 106.00 (the next psychological zone). It hasn’t been there in a little over a month.
This is a set it and...
The market structure really has been beautiful on most pairs this week. After major bullish move on most pairs (this one included) we are finally seeing some market structures to play with. So many good opportunities.
The SiFi Zones as I call them or SET IT and FORGET IT are simply zones created off psychological levels. All you need to trade are some horizontal...
Pair: EUR/USD
Period: 4H
Classic setup on the euro with as we move away from the 1.1300 psychological level to the bottom of the SiFi zone at 1.275. Confirmation with break trend line.
Short entry at 1.1275
Stop at 1.1315
Take profit at 1.1200
Move stop to break even at 1.1250
