Get started

Ujshort

USDJPY LONG (DAY TRADING STRATEGY - COUNTER TREND TRADING) FX:USDJPY 1D - Overall trend is still uptrend. However, price formed a low last week and break the support @ 112 BRN zone. (SBR) Price might turn to downtrend based on this pattern. However, based on price movement behaviors... usually price will retrace back to 112 then only continue it's downward movement. On the other hand, if currently is the retracement for uptrend... then we have confluence of BRN zone + RBS zone + TL on 111.00 level. Either way, it is a good opportunity to long and target at 112. In 1H time frame.. .We can see the harmonic movement of price moving up. More upward movement we can observe. Anyway... we kind of a bit late to enter the market as the price is already rallying. Target buy limit @ 111.10 SL @ 110.70 TP 112.00 RRR at least 1:2 Trade at your own risk (TAYOR)
Long
by BarryAllen_Thee
2
USDJPY Short off Upper TrendlineNow, I know I'm the only one with this one on their radar. It's almost a no-brainer, which is slight suspicious... Tin-foil hat off- the RSI is overbought on a few timeframes and MACD has crossed over. The price has been ranging within a descending channel and the price is up toward the upper trendline of this channel. We are also sitting near the 0.618 fib of the latest major fall (red- upper trendline to lower). The price is at a few other fib extensions that I did not add to this chart (to avoid additional clutter). I charted an imaginary fib (dark green) at the area I predict the price will hit so that I could name a take profit target. This price may continue to range within this channel, but That's a long term sell. Instead, I'm planning on targeting between the 0.236 and 0.382 levels of my imaginary fib. The brown 100 SMA line may act as a dynamic TP. The stop loss is above the upper trendline and also above the 0.786 of the big drop. Not a great risk to reward ration, so the less risk adverse may want to have the SL a little above the trendline. Entry: 112.875 TP: 111.200 SL: 114.300 I'll include a larger view below so that things are clearer. I'll update as needed. Good luck!
Short
by Zedro
UJ: Pick your bottomThis is an interesting setup. UJ is highly likely the first part of a five wave impulse corrective structure that ends as an ending diagonal. These can be very long, very boring and are the bottom-pickers' nightmare. Suggested bottoms indicated to the left. However; One target is reached already. Was the 1.618 target extension "it"? If it leaves the channel, most likely yes. If no, try again. Looking to the long UJ rally upwards, I think itwill spend a lot of time going down in narrow range and less time try to fly around. Here the rule is to short all highs within the channel. Reasonable SL is recommended.
Short
by UnknownUnicorn540299
1