usdjpy end of week two-trendy setupFX:USDJPY is notorious for running up, but it looks like it is starting to get tired. I am looking for a break of the steeper trend line, for a pullback to the lower trend line. The two-trendy system as I learned it from rob booker is a simple break in one trend line and a pullback to the current trend, which for usdjpy seems to be up. So, short it on break of the trend line, close trades and buy for continuation of the trend.
Twotrendy
NZDUSD Had a nice run, time for a pullbackThe indicators are all here showing NZDUSD had a great run up. I will be shorting it to the first trend line, if that breaks I will continue holding till the second trend line. Watch this 4h candle closely. If it closes as a bear engulfing candle then it is a sure sign of a reversal. I am also testing a new system on daily fractal trading, my current positions there are short GBPUSD and long GBPJPY. Very small positions as I am testing this trading theory but I do like the idea of trading the daily candle at the beginning of the day and catching the entire days move.