After what seemed to be a bullish reversal for UJ, the third impulse within this channel performed far worse than expected, now falling below this trendline we can identify this as a correction for continuation. Looking to target 105 area in the long run but we shouldn't be too greedy...
...And no i dont mean my wife, or do i haha.
This trade is going to hell to dance with the devil, i have been waiting ages for price to break a daily level... and finally it has.
Bears normally like it cold but not these bears as they are taking price down to see Satan ( and no im still not talking about my wife ) its a good job she is not on trading view...
We are looking for price to pullback into our support zone ( red box ) we are then looking for a bounce and bullish movement, we do have resistance at our purple zone but if price can break this we will see a lovely run up to our TP zone which would produce a handful of pips ;p
We do have loads of high impact news this week regarding this pairing, that could...
In the immortal words of Salt-N-Pepa ‘Let’s talk about stocks, baby!’
Nothing seems to be able to keep stocks indices down. Trump has sent the war cry as he enters a new election campaign (I have had to scroll back for 5 minutes through only two days of tweets to find it!)
‘ The Trump Economy is setting...
This setup took me literally 10 seconds to spot, I just opened the chart and spotted it... This is how easy you can make trading if you block out all the bull#hit people try to feed you and just focus on the charts, clean and tidy charts!
When I 1st started out I had all sorts of idiots trying to tell me I had to use 100 indicators just to spot a trade... I lost...
STOP LOSS - 108.333
TAKE PROFIT - 108.864
Risk on the trade - 1%
We have seen some bullish momentum on this trade where price had a brief pause and consolidated sideways creating a continuation pattern. Price has broken above and we may see price move to our take profit.
Possible drop for USDJPY. I have been following this pair closely for a few months now and it has been acting throughout a descending wedge and I have been awaiting the breakout of the wedge and it has occurred today. The price has also been moving under both the 200 EMA and 50 EMA which also adds to the short bias. I have placed a long term trade with over 200...
Been monitoring this trade since last week Monday. Saw the support zone for last week overall trend reversal and now letting the pair produce a bullish channel.
It the current candle which opened this evening closes above my line @110.189, this will show that it has broken previous daily tf resistance.
Target Price @111.459
USDJPY has been travelling in a (BLUE) descending channel and has also been following and testing a (BLACK) descending trend line multiple times inside of the channel. Price on the daily chart made a sharp move upwards yesterday breaking above the previous resistance zone (now support) and also the black trend line. Depending on the closure of today's candle we...
USDJPY on the daily Time Frame has been moving inside a large (BLUE) triangle. Last week price saw the top of the (BLUE) triangle, when it was following the (BLUE) ascending trendline. Price had a clear break of the ascending trendline with a short retest, while price was doing this it also formed a (BLACK) descending channel.
Right now price is at a MAJOR...
Reasoning behind buying in this zone are daily swing low, April monthly low , daily 0.618, previous horizontal support... its has not been an all out dump from 112.4 with the bulls showing up at.0382 and 0.5
Reasoning behind target is, if we bounce in the exact spot, the target will meet up with the 0.5 and double top on the 4 hour, also...
Confirmation is big part of trading and waiting for it - always look for at least 2 or 3 additional reasons why a trade is a buy or a sell.
We make mistakes and we take losses whats important is that we learn and take it forward.