USD/JPY - Short-Term-Trade - Market Update
USD/JPY - Short-Term-Trade - Market Update
This has been a LOVELY pair this week. As it has given us LOTS of trading opportunities. Overall I've had 3 entries with this pair (2 closed with profit and 1 Long-Term currently opened). As of right now we are in a perfect zone for entries.
Price has already reached a potential area of profit (-27.20%) and it seems that we are close to either a CTT opportunity or a Trend-Line rejection opportunity. So we have to be patient.
If price closes -BELOW- our Minor-Trend Line I will be looking for some Short-Term Sells; as this would be a CTT I will go for both tight S/L and T/P. If price were to manage to close -BELOW- our Major Trend-Line we will be looking for increasing our T/P
If price were to close -ABOVE- our trend-line we would have a trend-line rejection entry. Where our next area of profit would be our -61.80% Fibonacci area (Not shown above). So as of right now we have to be patient and see what the close of the 4H candle gives us.
*This is NOT a signal. We are NOT responsible for any type of losses you may encounter. For information on our Advance Training and Life-Time mentor-ship please email us at TheForexClubFX@gmail.com
This has been a LOVELY pair this week. As it has given us LOTS of trading opportunities. Overall I've had 3 entries with this pair (2 closed with profit and 1 Long-Term currently opened). As of right now we are in a perfect zone for entries.
Price has already reached a potential area of profit (-27.20%) and it seems that we are close to either a CTT opportunity or a Trend-Line rejection opportunity. So we have to be patient.
If price closes -BELOW- our Minor-Trend Line I will be looking for some Short-Term Sells; as this would be a CTT I will go for both tight S/L and T/P. If price were to manage to close -BELOW- our Major Trend-Line we will be looking for increasing our T/P
If price were to close -ABOVE- our trend-line we would have a trend-line rejection entry. Where our next area of profit would be our -61.80% Fibonacci area (Not shown above). So as of right now we have to be patient and see what the close of the 4H candle gives us.
*This is NOT a signal. We are NOT responsible for any type of losses you may encounter. For information on our Advance Training and Life-Time mentor-ship please email us at TheForexClubFX@gmail.com