A resume on short side for USDJPY
At point zero [2018/04/25 (1:00 UTC+8)], buyer started it's run up until point 1 and retraces back to point 2. [50% retracement]
>Buyer still healthy, still got it's energy to push upwards.
Buyers continue its run, but never make a higher high and retraces back from point 3 to 4. [80% retracement]
>Buyer just reach it's previous high but crashing down hardly [Getting some pressure]
>Sellers presence are strong [They keep selling the price off when it reached that area]
Buyers continue its run again from point 4, barely make a higher high but than crashing down. [200% retracement]
>Sellers roll over the buyers
>Buyers are now complete dead and sellers in control of the game now
At the moment:
Checked back a Daily chart which is my Godfather (Big Boy), the entire series is an downtrend.
In 4H chart, I see the buyers dying and sellers showed up its presence.
In 1D chart said is a downtrend.
Therefore, a trade set-up for a short is made.
Trade set-up:
Position: 109.148
S/L: 109.548 (40 pips)
T/P: 107.748 (140 pips)
**Note: Be aware of the price at the area 107.720, as this is the price where the buyers get their "steroid"
S/L at 40 pips to let the market have sufficient space to move and it is above the player who started to dominate. This can help you to avoid a stop out or spike.
**Note
This trade might not be working out and also my judgement might be incorrect, but the whole sequence of this is made based on logic of Buying and Selling. I'm looking forward on those traders to give some opinions and ideas. Still on the way at learning stage hope you guys like it, CHEERS!
>Buyer still healthy, still got it's energy to push upwards.
Buyers continue its run, but never make a higher high and retraces back from point 3 to 4. [80% retracement]
>Buyer just reach it's previous high but crashing down hardly [Getting some pressure]
>Sellers presence are strong [They keep selling the price off when it reached that area]
Buyers continue its run again from point 4, barely make a higher high but than crashing down. [200% retracement]
>Sellers roll over the buyers
>Buyers are now complete dead and sellers in control of the game now
At the moment:
Checked back a Daily chart which is my Godfather (Big Boy), the entire series is an downtrend.
In 4H chart, I see the buyers dying and sellers showed up its presence.
In 1D chart said is a downtrend.
Therefore, a trade set-up for a short is made.
Trade set-up:
Position: 109.148
S/L: 109.548 (40 pips)
T/P: 107.748 (140 pips)
**Note: Be aware of the price at the area 107.720, as this is the price where the buyers get their "steroid"
S/L at 40 pips to let the market have sufficient space to move and it is above the player who started to dominate. This can help you to avoid a stop out or spike.
**Note
This trade might not be working out and also my judgement might be incorrect, but the whole sequence of this is made based on logic of Buying and Selling. I'm looking forward on those traders to give some opinions and ideas. Still on the way at learning stage hope you guys like it, CHEERS!
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