Short-usdjpy
XAUUSD SHORT TO 1570XAUUSD short to 1570 long term as a major correction is needed after a multi year bull run. Also, on its recent bull run, Gold has move up really impulsively without retesting a lot of major zones, in the process creating a lot of imbalance which now needs to be filled. Inefficiency is a sign of weakness in any trend.
From a fundamental perspective, the US10 year Yields rising back to previous highs of 2020, will put pressure on Gold to drop as both assets correlate negatively. Also, with the roll out of vaccines and economies worldwide slowly reopening, the demand for Gold will drop. Waiting on the next big false flag attack by the worlds elite & shadow government, so that I have a reason to start buying Gold again long term!
USDJPY SETUP 1:4.5After a long bullish trend we are starting to see signs of a reversal.
I noticed a bearish wedge pattern beginning to form.
So far, we have broken out of the pattern and managed to retest - to some extent.
I have set the entry at a level where resistance had turned into support.
I have set the stop loss at a level where support turned into resistance.
If this level is broken then I believe that the pattern is no longer valid.
The take profit has been set at a level where there was previous resistance and that was broken.
USDJPY - Short positionLich is looking to sell short term, Lich is awaiting more confluences such as candlestick confirmation, as price as already been rejected around resistance levels, indicating a "sell high scenario".
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Disclaimer: Please understand this is not investment advice, but merely my Lich opinion as you are responsible for your own trading(profits and losses).
USD JPY SHORTUSD/JPY Started forming a Descending Triangle around the 5th of March 2020, this is a Bearish chart pattern. The formation of lower lows and lower highs suggests a strong down trend and the trend line also suggests a downwards trend. Take profits set at major levels of support. Price could potentially bounce to resistance levels from support if no breakthroughs of support levels are met. Short and close out lots once in profit and TP hit.