USDJPY: Big short in the horizon
Updated
Similarly to TLT, I expect a rally to emerge today, which if moving past the trigger level at 122.545 will lead to an advance into the 124.096 to 126.042 area.
I'll attempt shorting the first target with a tight stop, and if stopped I'll wait to short it higher. It's unlikely to see the 2nd target hit, since the 1st one sits right below the 8 week downtrend mode from where the very sharp decline launched, making this an area of high probability for a reversal.
Remember to follow me at collective2 for live trade updates and to receive my Monday, Wednesday and Friday newsletter with detailed intermarket analysis. Currently, I decided to charge $20 per month, until I reach 30 subs. Once that happens, I'll charge $40 per month. So, being within the first 30, you'd be a 'founding member' of the "Time at Mode FX" crew. I placed a link in my profile containing an archive of my forecasting hits in this site, do check it out.
Good luck navigating these murky waters!
Regards,
Ivan.
I'll attempt shorting the first target with a tight stop, and if stopped I'll wait to short it higher. It's unlikely to see the 2nd target hit, since the 1st one sits right below the 8 week downtrend mode from where the very sharp decline launched, making this an area of high probability for a reversal.
Remember to follow me at collective2 for live trade updates and to receive my Monday, Wednesday and Friday newsletter with detailed intermarket analysis. Currently, I decided to charge $20 per month, until I reach 30 subs. Once that happens, I'll charge $40 per month. So, being within the first 30, you'd be a 'founding member' of the "Time at Mode FX" crew. I placed a link in my profile containing an archive of my forecasting hits in this site, do check it out.
Good luck navigating these murky waters!
Regards,
Ivan.
Order cancelled
Note
Was right on point...Trade closed: target reached
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