Hello viewers
Last 2 trade's that i shared tradingview community
-XAUUSD (LONG)
-USDCAD (SHORT)
Both have respectively hit out target zones.
This week i will share with you all my trade bias on USDJPY with confirmations to explains accordingly.
1. USDJPY for swing position of short towards the downside target
2. Price is within the "Descending Channel" respecting the upper & lower trendline with A,B,C followed by at each reversal area.
3. Price has rejected from 109.900 key level of resistance showing no mercy for buyers and with that "Tweezer Top" candlestick formation swallowing the buyers candlestick last week.
4. 61.8 fib align from previous high to previous low giving us a nice ratio for entry at 109.500 - 109.200 region of taking position short
5. On daily time frame you can the 109.900 is supply zone with sensitivity rolled in and pushed the price down, with now H&S pattern formation indicating selling activities to roll in this week as we have volatility approaching.
R:R is 1:4
as it's a long term "short" swing position, measure your risk to reward ratio, calculate your risk according to your account capitals.
Entry: 109.000
TP: 105.000
Good Luck Traders
Last 2 trade's that i shared tradingview community
-XAUUSD (LONG)
-USDCAD (SHORT)
Both have respectively hit out target zones.
This week i will share with you all my trade bias on USDJPY with confirmations to explains accordingly.
1. USDJPY for swing position of short towards the downside target
2. Price is within the "Descending Channel" respecting the upper & lower trendline with A,B,C followed by at each reversal area.
3. Price has rejected from 109.900 key level of resistance showing no mercy for buyers and with that "Tweezer Top" candlestick formation swallowing the buyers candlestick last week.
4. 61.8 fib align from previous high to previous low giving us a nice ratio for entry at 109.500 - 109.200 region of taking position short
5. On daily time frame you can the 109.900 is supply zone with sensitivity rolled in and pushed the price down, with now H&S pattern formation indicating selling activities to roll in this week as we have volatility approaching.
R:R is 1:4
as it's a long term "short" swing position, measure your risk to reward ratio, calculate your risk according to your account capitals.
Entry: 109.000
TP: 105.000
Good Luck Traders