Major rejection following NFP. I believe it will rise a bit between 103.4-103.5 if it breaks back down sell. But if it breaks past 103.5 it could take it into the 105's
bearish Crab forming on the 1 hour chart
this coincides with my Elliot wave count for that time period and with the reversal zone right at the 1.618 extension of my wave 1-3 swing.
PRZ of 104.261-104.765
TP1 @ 103.009
TP 2@ 102.116
thanks for viewing
Bud
We are in C to D move of potential bullish bat pattern, usually C to D trading is very aggressive, so unless I get proper entry with good stops I wont try to catch C to D move in USDJPY. Anyway, that move is prediction, only if that happens bullish bat will get completed. On pattern completion we can initiate longs in USDJPY and 100.00's being psychological level...
This is the right time to buy this pair.
Reason 1) Candles closed above EMA 26
2) Hovering above ADX 26
3) Othe technical indicators show a perfect buy signal.
USDJPY on the 60min in consolidating in the shape of a Descending Triangle. These patterns tend to cause large breakout moves in the markets. I'll be watching this pattern and will be waiting for a Break & Close out of the pattern to give me direction. As of right now I have no idea which direction it will break, so I will not involve myself until I get my...
potential bullish bat forming ion the 15 min chart. Im looking at a reversal zone of around 100.15 through 100.30 will enter after a candle over candle confirmation if the reversal if its triggered.
SL 100.093 @the X
TP 1 @ 100.534
TP 2 @ 100.804
looking at a potential ABC correction with about a 56 PIP move to point C. Will go short after a candle under candle confirmation and further price action at the open.
SL @ 101.165
TP 1 @ 100.548
TP 2 @100.381
Thanks for viewing
Bud
If you longed at 0.786 fibo zone then you can protect to BE.
If not, then wait the FOMC next tuesday to trade this.
I will leave this idea as neutral idea and will update on tuesday.
