USDJPY 103.48 + 0.13 % SHORT IDEA * CONTINUATION PTTNS
Updated
HELLO EVERYONE
Here's a look at the DOLLAR / YEN that has been trading in a descending channel structure with some spikes here and there, the pair just broke a significant support level structure looking for a pull back as the pair is over sold on most indicators the 38.2 % Fibonacci is aligning perfectly with structure which is our previous support now resistance now the 50 % Fibonacci may come into play as well as target 2 as we've seen some spikes on the pair.
Looking for the descending channel to hold and see a push up into structure for a retest / rertracement.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Here's a look at the DOLLAR / YEN that has been trading in a descending channel structure with some spikes here and there, the pair just broke a significant support level structure looking for a pull back as the pair is over sold on most indicators the 38.2 % Fibonacci is aligning perfectly with structure which is our previous support now resistance now the 50 % Fibonacci may come into play as well as target 2 as we've seen some spikes on the pair.
Looking for the descending channel to hold and see a push up into structure for a retest / rertracement.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Trade closed: target reached
1. target successful 2. bearish idea cancelled
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