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I missed the first big move 11pm my time last night by having the audacity to sleep. I'm more comfortable scalping or at least must have a trade min SL and it was still rangebound when I called it a day last night. On the upside I looked further afield this am and got an AUSUSD break down as picture, 6 trades as I decided if i really want to earn more money I need to have more faith in my decisions. TP on all as per pic, currently have met half my weekly target but I'm ok with that.
Like to bounce, price does. And we could see that happen, before pushing lower. Just look at bonds over the past 24 hours, strong push down. The fundamentals, give reason for lower bonds. Higher interest rates, more Chinese buyers, government shut down (less debt, less bonds being issued) all show a lower bond market.
15 seconds - London open - London Time - winter - 2019-01-10
(tight stops, spreads and extreme trade selection/vetting required for optimum performance - one or two snipe shots then ruthless retire/retreat regardless of further considerations - trigger happy compulsive over trading and scalping attempts will results in fast losses - losses are not our concern - separate sideline account suggested - no time for further comment
108 region appears to be holding and it might go higher towards 109 and then 109.8
107.5 is stronger support below 108
scalped 2 longs with that 5 min hammer reversal, but TP quickly, wasn't expecting that spike. Now we have possible shooting star.. I find fridays challenging. I don't care what people say, I def find fridays challenging
THE USDJPY pair, repeat itself often, it does.
Finding a similar price movements from history can help to give insight into the future movement of price. With that said, over the past 5 years, only one time, a similar pattern appeared, to replicate what we see today. This movement being a large downward thrust after a strong downtrend, in relation to USDJPY.
During August 24th/25th 2015 this pattern appeared on USDJPY and what occurred afterwards was an 8/9 week consolidation period. Fast forward to where price is today and the current price movement has acted in a similar fashion, along with BONDS and interest rates. I wouldn't be surprised to see this exact thing. A period of 5-8 weeks of consolidation for the USDJPY pair.
And a possible longer consolidation period, considering the drop in august was 4 days and the current downward movement was a 3 week move from top to bottom.
One last thing, the range being about 180-220 pips.
May the force be with you, always!
1:Trend touch, bounce lower,
2:Small consolidation with break,
3:Hits previous resistance
4:Bounces off
Battle we shall see, now hmm
this is my analysis for USDJPY pair , hopefully it will be good & understandable and help you to earn good profit in trading.
simple moving average chart for this pair seen as an indicator as smoothly up movement, so it is possible that the breakout of the resistance level at 108.92 and the pair will continue to go up to the next resistance level at 109.17
in my personal view this pair will be continue bullish trend, for intraday trading today I suggest BUY at the level 108.87. , stop loss at the level 108.52 target take profit at the level 109.32
if market movement as my scenario, you can earn good profit and avoid much loss in your trade
trying a night fish because I thought if I woke up in the am and it had broken down I'd be irritated. placed 2 trades, just TP on 1 other as per pic BE, no set TP
Something to watch with the current bounce, from the previous resistance. Price could just stall out, forming another wedge, above or just lose steam and collapse.
Or something which has a chance, below us all away and push higher......lol
Short, I'm but prepared for anything.