Euro / Japanese YenShort
STOP LOSS HUNTING STRATEGY 8.8% OR 10% REWARD
SHORT AT STATISTICAL STOP LOSS FROM MAJORITY
Will short at where most put their stop loss. This strategy is valid for me because this forex pair is indicating a bearish sentiment and the strongest ever recorded. But there is no previous statistics on such a price action. So I will short your stop loss which is around 160-167 (Aggressive account) and 170.5 (Buy and hold account).
I have no believe in a bearish continuation beyon that, it will just carry on going bullish and I'm not interested into shorting or buying this premium as it was bullish for decades and will not offer an exit strategy and/or a decent Stop Loss size
Factors of confluence:
- Anchored VWAP 0.618 above
- Monthly SIBI Fair Value Gap acting as strong resistance
- Previous POC levels
Take Profit:
- EMA200 Weekly chart
- Previous Fair Value Gap level
- Previous Month POC of June 2023 that hasn't been retested and had a strong bullish candle
- Quarterly Q1 Pivot Support Levels
Will short at where most put their stop loss. This strategy is valid for me because this forex pair is indicating a bearish sentiment and the strongest ever recorded. But there is no previous statistics on such a price action. So I will short your stop loss which is around 160-167 (Aggressive account) and 170.5 (Buy and hold account).
I have no believe in a bearish continuation beyon that, it will just carry on going bullish and I'm not interested into shorting or buying this premium as it was bullish for decades and will not offer an exit strategy and/or a decent Stop Loss size
Factors of confluence:
- Anchored VWAP 0.618 above
- Monthly SIBI Fair Value Gap acting as strong resistance
- Previous POC levels
Take Profit:
- EMA200 Weekly chart
- Previous Fair Value Gap level
- Previous Month POC of June 2023 that hasn't been retested and had a strong bullish candle
- Quarterly Q1 Pivot Support Levels
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.