6-Month USDJPY Break-Out Trading Plan.
Updated
So here we go, the big break-out we've been waiting for - or is it? Let's assume that the USDJPY pair continues it's upwards march towards it's June 2015 high, we're then looking at 3-6 months worth of upwards movement and thousands of pips.
To enter such a series of trades, we need to start with a good entry zone. In this case, TA shows that somewhere back below the 111.000 region would be perfect, however this could also mean a total reversal of the "break-out" and resumption of the downwards trend.
Somewhere during the beginning of 2019, TA shows that we can expect an event to occur near the 38.2% weekly Fibo line. This may be a strong re-test of the support, or even a downwards breakout.
Expect TP's as high as 124.000 to 126.00 region. MANY updates to follow.
To enter such a series of trades, we need to start with a good entry zone. In this case, TA shows that somewhere back below the 111.000 region would be perfect, however this could also mean a total reversal of the "break-out" and resumption of the downwards trend.
Somewhere during the beginning of 2019, TA shows that we can expect an event to occur near the 38.2% weekly Fibo line. This may be a strong re-test of the support, or even a downwards breakout.
Expect TP's as high as 124.000 to 126.00 region. MANY updates to follow.
Note
After Trump's rant on Thursday about the FED being wrong he seems to have triggered a good correction within the market. Congrats to everyone who caught that movement by the way.We're now closer than ever to the buy zone.
Note
4-hour Doji formed just underneath the Buy Zone line. Awaiting buy confirmation.Trade active
Short-term buy now active.Note
TP: 112.200
SL: 110.250
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