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Forex-usdjpy

USD/JPY – Week 5 – Bullish sentiment continues. The US Dollar increased its gains with the U.S. economy growing stronger at the end of the year, expanding by 4% in the 4th quarter. While in line with the projection, the pace of the recovery slowed noticeably from the 3rd quarter. Having said that, the USDJPY moved as we pointed out in our previous analysis, nearly reaching the 105 phycological level. We now grow confident that this week, the bullish move will continue with 105.50 level on the cards. As you can see in our analysis, we have a strong resistance zone, which we will expect to hold and be the start of a bearish move that is going to break the previous low. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by financialflagship
1
USDJPY With Several Evidences For A Potential Bottom FormationHello traders! Today we will talk about weekly USDJPY chart and we will show you many evidences for a potential bottom formation. Well, for the begining let's talk about wave structures from Elliott Wave perspective. USDJPY is in a downtrend since March, but the wave structure is slow, choppy and overlapped which we see it as a complex corrective W-X-Y decline and we know that once corrections fully unfolds, we can expect a reversal. The next very important evidence is an ending diagonal (wedge) pattern placed in third leg Y. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C/Y of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5. The reason why they are so interesting is because they are indicating a reversal, usually a strong one. The next interesting evidence is that we are already seeing bounce and recovery with quite big weekly candlestick, completely covered the previous one, called bullish engulfing candlestick formation which also suggests a bullish reversal from the lows. If we also consider current break above strong weekly trendline, then with so many evidences, we can easily confirm a potential bottom and bullish reversal. Trade well! If you like what we do, then please like and share the idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
1
Range trading: Forex as for 14/01/2021Under that heading we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information give to the trader? Actually, a lot. First of all, trading signals. For example, if during a day the price approaches the upper (lower) mark, it can be concluded that it will not go higher (lower) prescribed mark today with already known probability. So, you can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability. EURUSD Long position 1 (The price today will not fall below this mark with a probability of 68%) 1.2096 Long position 2 (The price today will not fall below this mark with a probability of 95%) 1.2075 Long position 3 (The price today will not fall below this mark with a probability of 99%) 1.2054 Short position 1 (The price today will not rise above this mark with a probability of 68%) 1.2211 Short position 2 (The price today will not rise above this mark with a probability of 95%) 1.2232 Short position 3 (The price today will not rise above this mark with a probability of 99%) 1.2253 GBPUSD Long position 1 [/b (The price today will not fall below this mark with a probability of 68%) 1.3535 Long position 2 (The price today will not fall below this mark with a probability of 95%) 1.3478 Long position 3 (The price today will not fall below this mark with a probability of 99%) 1.3421 Short position 1 (The price today will not rise above this mark with a probability of 68%) 1.3737 Short position 2 (The price today will not rise above this mark with a probability of 95%) 1.3793 Short position 3 (The price today will not rise above this mark with a probability of 99%) 1.3850 USDJPY Long position 1 (The price today will not fall below this mark with a probability of 68%) 103.65 Long position 2 (The price today will not fall below this mark with a probability of 95%) 103.47 Long position 3 (The price today will not fall below this mark with a probability of 99%) 103.30 Short position 1 (The price today will not rise above this mark with a probability of 68%) 104.34 Short position 2 (The price today will not rise above this mark with a probability of 95%) 104.51 Short position 3 (The price today will not rise above this mark with a probability of 99%) 104.69 Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading.
by Trade24Fx
1
Volume Profile and Losing Trades (A Cool Trick Explained) 💪Hello guys, trading it not just about taking winners. Losing trades are also part of the business and there is no point denying it. In my trading career, I took hundreds of losers (maybe even thousands) and I feel no shame in that. Today, I would like to talk about a recent losing trade which I had on USD/JPY. Let me first talk about the logic behind this trade – the reason why I took it. The logic behind the trade In the last week of 2020, there was a zone where heavy volumes got traded. It was at 103.53. This was the Point Of Control (POC) of the whole week – this means the heaviest volumes throughout that week got traded there. From this place, the price went sharply downwards which indicated that there were strong sellers present and that they entered most of their Short positions at that POC (103.53). The idea behind my trade was to wait until the price reaches this Weekly POC again and enter a Short trade. I expected the sellers that entered their Shorts at the POC would defend this area and to push the price downwards from there again (this setup is called the “Volume Accumulation Setup“. That didn’t happen tough… How the trade went? I went Short fro 103.53, but there was no selling reaction whatsoever and the price just shot past the level. I took a loss there. After that it was time for me to shoot a Daily video for members of my trading course. In that video I talked about this losing trade and I said that if there was a pullback to the same level (103.53) it would be a nice place to open a Long position. Why I said that? Reversal Trade There were two reasons why I wanted to take a Long from there. The 1st reason was that there was a very strong, volume-based trading level (Weekly POC) breached. This is quite unusual, because such a strong level as Weekly POC should trigger a reaction! The 2nd reason was that the price just shot through the Weekly POC without ANY sort of reaction. This is important, because it indicates that the Buyers were so strong and aggressive, that the Sellers didn’t stand a chance. You usually discover the strength too late (after you had taken a Stop Loss) – like in this case, but you can still emerge a winner from this, if you switch sides and join the winning party. The best way to do it is to wait for a pullback to the same level you entered your previous trade. Don’t chase the market. Wait for it to come to you. Then enter a new trade, but this time in the opposite direction. In this case, the first trade was a Short which failed, and the second trade was a Long (from the same level) after a pullback, which was a winner. I call this a “Reversal Trade“. Those work best if a very strong level based on a Volume Profile setup fails, and when there is no reaction to it whatsoever. Those are two main conditions to remember. I hope you guys found this helpful. Let me know what you think in the comments below. Happy trading! -Dale
Education
by Trader_Dale
3
Understanding ForexForex – also known as FX – is short for “Foreign Exchange”. It represents a market where one can exchange and trade different currencies across the globe. To understand how forex works, let’s use the example of overseas travel. If you’re from the United States and are travelling to Japan, chances are you would head to a local currency dealer before your trip to change some US dollars for the equivalent in Japanese yen. Let’s say the rate you exchanged was 1 USD ( US Dollar ) to 108 JPY (Japanese yen). This means that for every 1 USD you give the money changer, you get 108 JPY in return. Now you’ve headed off on your trip, had your lifetime’s fill of sushi, taken way too many pictures of Mount Fuji and are now back in the US a month later. You still have some Japanese yen currency left which, of course, isn’t of much use at American shops, so you decide to change it back to USD. Once again you visit your local currency dealer and ask to change your JPY back to USD. The rate you’re quoted is now 104 JPY to 1 USD. Let’s pause for a moment: you may not have realised, but you’ve just made a profit without even planning to! Previously, every 1 USD got you 108 JPY, now you get that same 1 USD back for just 104 JPY. That, my friend, is a simplified explanation of how profit can be made by trading the fluctuation of currencies against each other. In this case, the JPY strengthened against the USD while you were holding onto it, resulting in you effectively making money when you returned to the US and decided to convert it back to USD. Now, it’s important to take note that when trading Forex, you always need to consider two currencies (hence, we call it a “currency pair”). In the above example, we were essentially trading the USD/JPY currency pair. It’s not enough to think that one currency might strengthen – you have to think of which currency it would strengthen against. Thanks to the globalisation of financial markets, when we trade on the FX market, we now have the luxury of trading a lot of different currencies against each other all from the comfort of your home. Think the yen is going to strengthen against the Euro (EUR)? Then buy the yen, sell the Euro (selling EUR/JPY )! This concept might seem a bit complicated right now, but just remember that when you’re trading forex, you’re essentially betting that one currency will strengthen against another currency. * * The exchange rate on the chart is 104.056 Japanese Yen (JPY) for every 1 United States Dollar (USD) **
Education
by CeoCodes
17
Range trading: Forex as for 20/11/2020Under that heading we publish signals of the indicator called “Ranger” . It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information give to the trader? Actually, a lot. First of all, trading signals. For example, if during a day the price approaches the upper (lower) mark, it can be concluded that it will not go higher (lower) prescribed mark today with already known probability. So, you can open a position opposite to the current movement, knowing in advance that it will be profitable with a certain probability. EURUSD Long position 1 (The price today will not fall below this mark with a probability of 68%) 1.1823 Long position 2 (The price today will not fall below this mark with a probability of 95%) 1.1785 Long position 3 (The price today will not fall below this mark with a probability of 99%) 1.1747 Short position 1 (The price today will not rise above this mark with a probability of 68%) 1.1933 Short position 2 (The price today will not rise above this mark with a probability of 95%) 1.1971 Short position 3 (The price today will not rise above this mark with a probability of 99%) 1.2009 GBPUSD Long position 1 [/b (The price today will not fall below this mark with a probability of 68%) 1.3180 Long position 2 (The price today will not fall below this mark with a probability of 95%) 1.3132 Long position 3 (The price today will not fall below this mark with a probability of 99%) 1.3085 Short position 1 (The price today will not rise above this mark with a probability of 68%) 1.3343 Short position 2 (The price today will not rise above this mark with a probability of 95%) 1.3390 Short position 3 (The price today will not rise above this mark with a probability of 99%) 1.3437 USDJPY Long position 1 (The price today will not fall below this mark with a probability of 68%) 103.28 Long position 2 (The price today will not fall below this mark with a probability of 95%) 102.82 Long position 3 (The price today will not fall below this mark with a probability of 99%) 102.35 Short position 1 (The price today will not rise above this mark with a probability of 68%) 104.34 Short position 2 (The price today will not rise above this mark with a probability of 95%) 104.80 Short position 3 (The price today will not rise above this mark with a probability of 99%) 105.27 Calculations are based on the historical data and history doesn’t necessarily repeat this particular day. Recall, that mentioned probabilities are not 100% and do not guarantee risk-free trading.
by Trade24Fx