Short

USDJPY Intraday: Key Resistance At 101.25

Updated

Note(s):

Bearish AB = CD [2.236/0.447]

In addition, this pair has also validated a bearish flag (& is right now showing quite a seemingly bearish looking structure confirmation for a Short).

We will see how this goes on coming Monday (& I will most probably take this trade).

All the best.
Regards.

Note

Added the "triangular waves" leading up to this Bearish AB = CD

Best regards.

Trade active

Note

Trailing-Stop-Loss @ 100-pips has already been activated. This trade is now safe (as far as risk is concerned)...

Currently, I also have some other "scalping" trades going on in other pairs...

Regards.

Note

Trailing-stop-loss modified to 150-pips (to give price action slightly more space for roaming); because I will now be leaving this trade alone.

Regards.

Note

Trailing-stop-loss was taken out (with profit); so I Shorted it once again (for a scalping trade) & my new tight TP was hit just now.

Currently I'm just performing scalping on some pairs. (Market was very slow & ranging sideways; so I didn't expect much trending, & so the TP has been tight...)

Regards.

Note

I'm seeing a strong BUY signal in the 30mins chart for now, so I reckon no more Shorts for now...

*The original target level has already been hit.

Regards.

ProFX_Strategist

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.