USDJPY(1D): Consolidation Before A Short

15 thg 10, 2018

USDJPY
Timeframe: 1D
Direction: Short

Confluences for Consolidation Period:
- At support of Medium Term Trendline (established since March 2018)
- Price action hovering at 61.8% Fibo line of Recent Highs and Lows
- Overlapping of Oversold Stochastics

Confluences to Watch for a Sell
- Bearish candle formations
- Stochastic Overbought momentum wanes (if it reaches those levels)
- Crossover of 8EMA and 50EMA
- Break of Medium Term Trendline (established since March 2018)


Suggested Trade:
Price Action is likely to consolidate back upwards towards 112.48 - 113.27. Those levels are opportunities to sell USDJPY.

Entry @ 112.48 - 113.27
SL: 114.66
TP: 109.69


May the pips move in our favor! Good luck! :D


*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

16 thg 10, 2018

Ghi chú

Market is doing it's consolidation towards our Area of Interest. Be patient..

17 thg 10, 2018

Ghi chú

Broke through Consolidation area, watch for bearish momentum on daily charts to confirm entry level.

23 thg 10, 2018

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