Hello traders!
⁉️This is my analysis on JPYBASKET.
Here I have 2 points of interest, first one I am waiting for a rejection from orderblock around price level 7850. The second one if the price fills the imbalances below and reject from bullish orderblock around price level 7680.
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Here I am still bullish as we can see the price to form higher highs and higher lows, so I am looking only for longs. The price accumulated into the range last week forming SSL and BSL (sell and buy side liquidity). I expect the price could break the range and take out sell side liquidity and reject from bullish orderblock to continue bullish move.
Here we can see a reversal, as price broke the structure and forms lower highs and higher highs. I am looking for a long position if the price rejects from bullish orderblock + psychological level 8100 + discount market on Fibonacci. This mean Long on JPYxxx pairs and Short on xxxJPY pairs.
‼️ Imbalances are also known as inefficiencies or FVG (Fair Value Gaps) these are periods in price action whereby means of lopsided order flow, which create porous wakes or gaps in fills. The market will slip to the only available trade levels as a result of thin liquidity and these voids in liquidity will be revisited at a later stage. The market will seek to...
This is a great indicator of JPY trend direction. It's the basket! As soon as you see a trend in this chart then trade JPY pairs accordingly.....Good Luck! SHORT then LONG!
📉 Expecting bearish price action on JPYBASKET as we are in clear bearish market strucutre on the HTF(higher timeframe premise) price didn't made the bullish reversal i was expecting the last week. I think right now price is heading into sell side liquidity 8095 ALL TIME LOW, with that being said i dont think there is a good chance to enter SELL on YEN CROSSES such...
✅ Expecting bullish price action on JPY and a trend reversal from bearish into bullish as we have multiple imbalances area aka price ineffiency that price will try to close in the upcoming days/weeks. We have a clear rejection area somewhere around institutional figure 8200 and i think this area will hold as a LOW for a very long time. Buy Side Liquidity as the...
Good Day,
Here are some updates in JPY index:
1. Price now in its correction process after JPY gaining momentum and bullish impulse happened last week which resulted massive selloff of almost all yen pairs
2. Since JPY in its correction process we can notice all yen pairs start making correction with clear structure and pattern
3. We would monitor any price...
Prices are on bearish momentum. We see the potential for a dip from our sell entry at 8467 in line with 78.6% Fibonacci Projection towards our Take Profit at 8096 which is a graphical swing low. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.
Any opinions, news, research, analyses, prices, other information, or links...
What information can we derive from JPY Index:
1. Yen is heading towards major swing low trendline. We notice price bounce 2 times in Jun 2020 & May 2021 and we predict it will follow the same pattern
2. From eWave perspective, Yen is in process to complete the final wave (wave 5)
3. It previously broke the correction process of subwave 1 & 2 and currently...
From the chart, we have identify a complete 5 waves which previously lead to major bearish impulse. At this time, it's difficult to identify a bigger corrective structure and we noticed only wave A has completely formed
Using a parallel channel to measure a rejection from the swing low trendline where likely a start of wave B
Only interest to go for Short for...
Prices are at a strong resistance. We se the potential for a short from our sell entry at 9200 in line with 127.2% Fibonacci extension towards our Take Profit at 9090 in line with 61.8% Fibonacci Projection and 127.2% Fibonacci Projection. RSI is at levels where dips previously occurred.
Any opinions, news, research, analyses, prices, other information, or links...
‼️ When there is an uptrend market and the price fails to break the last top (Swing High) and breaks the previous bottom (Swing Low), an SMS is considered to have occurred (vice versa for Bearish). Also, this pattern is considered a good confirmation for reversal.
Try to use it and you will make your analysis better!!!
