LONG & SHORT FOR USDJPY

17 oct. 2018

There's a possible head and shoulders that is forming. After that I aspect the market to spike up to at leats the 50%. However, I feel safer when the market reaches the 61% because there are just less drawbacks. On a spike up I would be very comfortable because this shift in momentum or head and shoulders is on a very strong area highlighted by our Volume At Price (VAP). So on a Break Out of this zone we would be very comfortable to hold our position up to 50% or 60% FIB. Once we reach one of our FIB levels, we can place our Swing Trade. This can be a 1:3 Risk To Reward.
We can also aspect to reach 108.000 which is another touch of the support line as you can see from the link below in the related ideas.

18 oct. 2018

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