USDJPY Warming up for a stop run and then DUMP
The Samurai are planning a surprise attack on Dixie.
So we have:
- A few highs resting just below a significant breaker (or just plain broken support that should now be resistance), creating a liquidity pool just above them (everyone who went short around this level now probably has their stops above that high.
- Void left by the inefficient move down
- Confluence with DXY since it broke some lows recently, making it more bearish .
- The breaker I outlined above falls right on the .705 fib retracement for this whole move.
This makes it a perfect candidate for a short play once it reaches that .705 level.
I can see two targets here with decent R/R ratios, marked on the chart.
Original idea by Svarog https://www.tradingview.com/chart/USDJPY/pjAhiZxC-USDJPY-Warming-up-for-a-stop-run-and-then-DUMP/
So we have:
- A few highs resting just below a significant breaker (or just plain broken support that should now be resistance), creating a liquidity pool just above them (everyone who went short around this level now probably has their stops above that high.
- Void left by the inefficient move down
- Confluence with DXY since it broke some lows recently, making it more bearish .
- The breaker I outlined above falls right on the .705 fib retracement for this whole move.
This makes it a perfect candidate for a short play once it reaches that .705 level.
I can see two targets here with decent R/R ratios, marked on the chart.
Original idea by Svarog https://www.tradingview.com/chart/USDJPY/pjAhiZxC-USDJPY-Warming-up-for-a-stop-run-and-then-DUMP/
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.