USDJPY.... THE GREAT BEARISH MOVE... 800 PIPS
Hello Traders,
I hope this week has been good so far... Well for me, I took a loss yesterday night on AUDNZD... forgot to close my sell order before the market closed... Price got to my sell limit and spread took me out... I was livid but it was really my fault... So lesson learnt...I am still monitoring to see if the short is valid and I can enter based on my trading plan.... We move.
Now... USDJPY - a pair I have been monitoring closely. As at yesterday, I noticed on tradingview that people had already started selling. Do I think they are wrong? NO. Because if they are sell according to their trading strategy its fine but for me I feel the move might start by New York open today... so watch out.
What this would mean is that, USDJPY will be bullish to takeout early sellers and we can then look for shorts on lower timeframes.
Why am I convinced of this 800 pips move to 127.000 ? USDJPY is in a VERY strong supply region. I see this pair going to 115.000 (this is a longer term view tho).
Like this post if you agree with the trade idea..
Follow for more.
BR
David
I hope this week has been good so far... Well for me, I took a loss yesterday night on AUDNZD... forgot to close my sell order before the market closed... Price got to my sell limit and spread took me out... I was livid but it was really my fault... So lesson learnt...I am still monitoring to see if the short is valid and I can enter based on my trading plan.... We move.
Now... USDJPY - a pair I have been monitoring closely. As at yesterday, I noticed on tradingview that people had already started selling. Do I think they are wrong? NO. Because if they are sell according to their trading strategy its fine but for me I feel the move might start by New York open today... so watch out.
What this would mean is that, USDJPY will be bullish to takeout early sellers and we can then look for shorts on lower timeframes.
Why am I convinced of this 800 pips move to 127.000 ? USDJPY is in a VERY strong supply region. I see this pair going to 115.000 (this is a longer term view tho).
Like this post if you agree with the trade idea..
Follow for more.
BR
David
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