SETUP and ANALYSIS USDJPY
How I trade this?
More on a counter-trend/trend following strategy with
the aid of Advance Chart Pattern for price direction (bias):
Counter-trend strategy (15mins - 1 hr TF):
-2618 strategy (double top/double bottom and 61.8% Fib Retracement for ENTRY)
Trend ff. strategy: (15 mins - 1 hr TF)
-786 strategy (formation of HH/HL or LH/LL and 78.6% Fib Retracement for ENTRY)
Trading with multiple units. Units with fixed target (Conservative) and units with Trailing Stops (Trend ff.)
Note:
113-115 price is the Monthly Price Key point
(formation of the new Higher Low)
before it will resume to its original course (downtrend)
and breaking the 105 previous Monthly low (MAY 2, 2016 @105.5)
Blue lines are important PRICE RANGES (RED BOX) where
we could find price Consolidation and Reverse (ENTRY POINT)
Key points of price level/ranges:
106.12-108.62
113.64-115.772
More on a counter-trend/trend following strategy with
the aid of Advance Chart Pattern for price direction (bias):
Counter-trend strategy (15mins - 1 hr TF):
-2618 strategy (double top/double bottom and 61.8% Fib Retracement for ENTRY)
Trend ff. strategy: (15 mins - 1 hr TF)
-786 strategy (formation of HH/HL or LH/LL and 78.6% Fib Retracement for ENTRY)
Trading with multiple units. Units with fixed target (Conservative) and units with Trailing Stops (Trend ff.)
Note:
113-115 price is the Monthly Price Key point
(formation of the new Higher Low)
before it will resume to its original course (downtrend)
and breaking the 105 previous Monthly low (MAY 2, 2016 @105.5)
Blue lines are important PRICE RANGES (RED BOX) where
we could find price Consolidation and Reverse (ENTRY POINT)
Key points of price level/ranges:
106.12-108.62
113.64-115.772
Success, nothing less!
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