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Uj

SMC - UsdJpy 15min update - levels etcReview of where we are looking and if the lows are out .. at least for now.. eyes are above and there are levels here to reach for. Still using the previous marked 1h and weekly levels and important areas of interest for framing the Price Action Happy Trading, -- Doc PS - leave a comment and let me know what you think will happen. Let me know if you see something different if you have more experience with this pair etc. What do you think of the areas of interest and how the price is moving around them etc.
Long
by docholliday
✨FULL USDJPY. Multitimeframe Analysis✨☝️Do not act based on my analysis, do your own research!! The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌 ☝️ALL ideas and videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment. Important disclaimer - this idea is just a possibility and my extremely subjective opinion. Do not act based on my analysis, do your own research!!
by Yelli_trades
8
UJ update 5/1Hello everyone, just an update on UJ trade. SL has been hit, leaving 1 trade at BE and 2 trades in profit. MY SL was moved from all trades to my 3rd entry point. 90% was taken at 160. I do still expect a push above 160 and possibly 163. Update on my prop funding, I have lost 4 Accounts equaling to 900k from FTMO, TFT and 5ers due to regulations. I was basically a 7 figure trader and it kind of sucks, but I'm gonna look into future firms or maybe even try to find another FX firm that can support my swing trades. About 15 months into my journey and I felt like I was going to take off, but this is just a bump on the road and I'm not giving up, as I will find someway to get funded again. The ability to trade is a gift in itself, and I'm thankful for that. The man upstairs has a different plan for me, and I cant wait for what the future holds. #CHRISTISKING
Long
by VincentFX95
UJLike GJ, I am staying very far away. WEEKLY We are currently testing with a hanging man, which is usually a reversal candlestick, so we will keep waiting for it to complete as it can change. DAILY This is the highest price UJ has ever crossed in its history, which indicates the strength of the dollar to the Yen. Which is why we can watch as well what the DXY is doing as this is the index to give us ideas of where the market is going. 4H We have been in an ascending channel, this is only the second touch of the touch of the channel so we cannot assume yet that there will be a drop. If we get an override through pattern confirmation or candlestick confirmation then we could look for shorts. We are in an expanding channel within an ascending channel, so we could actually just be continuing to the upside and we are mid-range so it's not best to do anything. 1H Just stay watching.
by Mhangwane1
UJDAILY Not going to lie, there's no pattern I see. Just the assumption of the one I want to see, which is not a fact so it cannot be used as a confluence. Yet we broke 152.00 which if you zoom out will confirm that we are still in a very bullish trend. Impulse, Correction, Impulse : If you zoom in. 4H We formed a bear flag and broke it impulsively, breaking at 152.00. This is where our resistance was very strong. Had a flat flag, which was also broken, 153.40. Now we are currently in another correction structure (also the high price UJ has ever seen. 1H Touch of the bottom of symmetrical triangle 3 times, so we can assume the third touch of the top will be the break to continue to the upside. It has also formed a variation of an inverse H&S which shows the further strength of the demand to the upside. Trade Idea : Wait for the break of the triangle
Long
by Mhangwane1
UJStill holding a buy, moved SL in profit. With the current price movement we might get stopped out. DAILY 151.90, we finally broke and closed above. We are now either waiting for the further bullish push up or the retest so we can enter on the continuation. This is the highest price UJ has been peaked at, so we know the dollar is doing quite well. 4H 152.80 gave us a form of support and we have been going up. Yet we wait and watch as it could shoot up and create new supports or breakdown to retest old resistance as supports. 1H We are seeing a test candle which is a form of reversal so stay watching for that. 152.80 is our support for either a breakdown or reject and shoot up. 15Min
Long
by Mhangwane1
UJWe were also triggered in here, but SL was moved into profits so we were stopped out. Wen in again and fully got stopped out. Now we refine what the market is telling us. DAILY 151.97, our peak and our ceiling. Looking left what we are waiting for is a drop and a painful one. The dollar (DXY) has also given us signs of a drop. So we will plan and wait for the perfect entry. 4H This is the first peak to reach here that consolidated, the previous two rejected and price collapsed. So as much as we are anticipating the fall, we still have a long possibility. 1H 151.92 we will see this as another level of sensitivity. Probably placing a high risk Sell Limit just to confirm our bias. 15Min Leave that trade idea, it's not real
by Mhangwane1
UJThe forecast went in the direction of the market. Which shows that we working and getting better and the edge getting sharper. DAILY We finally broke out of the consolidation and chose a direction (short). Bouncing off 150.80, with the current candle now pushing upwards. We have slight direction as to what we are doing. 4H Bull channel and we hit the bottom of the channel, with patterns confirming the rejection and bullish candlesticks pushing upwards for the reversal. 1H I see an inverse H&S and we are breaking the neckline of the pattern, so now it is a matter of waiting for the retest (151.30) before we enter any trades. 15Min Bearish low test candlestick (Reversal), which is playing exactly towards the trade we would take. NB!!!!!!!!! NFP FRIDAYS WE ONLY TRADE AFTER NFP TO AVOID DOING THE WRONG THINGS.
by Mhangwane1
UJDAILY All we have is consolidation and reversal candles with no definitive pattern. Yet they are pushing upwards, tomorrow we will get the correct direction. 4H Inverse H&S and we still struggling to break the neckline of the pattern, therefore we have no guarantee that we are going up. We broke it but came right back and have been struggling to break it (151.70) 1H Once again we are rejecting the neck line 151.70 which should tell us that actual momentum we'll only see tomorrow before NFP, during NFP and after NFP. Till then sit still. 15Min 151.67 and 151.63, this gap should further show that there is still strength from the bears which has not fully played out as the volatility is yet to kick in.
by Mhangwane1