Good morning fellow Traders!
I have been tracking the YENUSD pair with great interest in recent weeks as we have been rebounding from its local low. The pair has a beautiful long-term trend on the higher timeframes, setting the direction I have been looking to trade.
We are currently sitting in a sweet spot, the price has been consolidating around 130-137, however, as soon as we have left this range in the past, volatility has kicked in, both ways. We have broken through the high of 137 two days ago, making the idea very plausible and easy to understand.
This is my Game Plan:
- Clean push above 137
- Pullback onto 137 area, preferably seeing a pullback down to 136.8
- Consolidation on the red line, smooth prices needed here
- No big slippage into the box, staying around the red line
- Trigger signal once price starts to recover between 137 to 137.2
- Entry upon jumping out of the box
This trend setup looks very strong because the higher timeframes support the direction we are trading in.
Make sure to follow my Tradingview for more ideas and check out my BNB short post, we are in profits!
Thanks for tuning in and let me know if you liked the video in the comments below.
Many thanks.
TraderCH
I have been tracking the YENUSD pair with great interest in recent weeks as we have been rebounding from its local low. The pair has a beautiful long-term trend on the higher timeframes, setting the direction I have been looking to trade.
We are currently sitting in a sweet spot, the price has been consolidating around 130-137, however, as soon as we have left this range in the past, volatility has kicked in, both ways. We have broken through the high of 137 two days ago, making the idea very plausible and easy to understand.
This is my Game Plan:
- Clean push above 137
- Pullback onto 137 area, preferably seeing a pullback down to 136.8
- Consolidation on the red line, smooth prices needed here
- No big slippage into the box, staying around the red line
- Trigger signal once price starts to recover between 137 to 137.2
- Entry upon jumping out of the box
This trend setup looks very strong because the higher timeframes support the direction we are trading in.
Make sure to follow my Tradingview for more ideas and check out my BNB short post, we are in profits!
Thanks for tuning in and let me know if you liked the video in the comments below.
Many thanks.
TraderCH
Comment:
Optimally we would stay above 135,8 otherwise I will be waiting for a better setup.
Comment:
idea rejected