USDJPY set up ideas and trades

pezz55

Sergeant
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204
USDJPY TGIF set up

Looking at this possible set up for London open tomorrow or New York session.
This pair reacted nicely last week and dropped back down after taking the relative equal high, this time i am looking for it to push up and seek the liquidity from the external range above last weeks high in the market open tomorrow and reverse back for a Friday close to the week.

As you can see we have taken the highs of the week and are now towards the high of last month.
From here I would look for a Friday drop before we continue higher in to next week.

Every thing will need to be correct before I enter this trade as time and price will be key during the market sessions watching for a BOS and and an entry on the smaller TF.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

USDJPY TGIF set up.png
 
Zooming out there was equal highs which you have marked with a read line. With a series of higher lows there wasn't much to suggest a reversal until those equal highs were taken which they now have been.
 
USDJPY TGIF set up

Looking at this possible set up for London open tomorrow or New York session.
This pair reacted nicely last week and dropped back down after taking the relative equal high, this time i am looking for it to push up and seek the liquidity from the external range above last weeks high in the market open tomorrow and reverse back for a Friday close to the week.

As you can see we have taken the highs of the week and are now towards the high of last month.
From here I would look for a Friday drop before we continue higher in to next week.

Every thing will need to be correct before I enter this trade as time and price will be key during the market sessions watching for a BOS and and an entry on the smaller TF.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.

View attachment 74813
I am eying to go short in the pair as well. The price had a rejection and made a strong bearish move from that marked zone. The last two rejection suggests that it may end up producing a Double Top here. If that happens, the price may head towards the South as you have suggested here.
 
USDJPY Swing idea.

Looking at this possible set up for London open tomorrow.
This pair has currently climbed all the way up over the last few mouths and we have just come up to above where we were at in Dec 2016.

Now just because we have gone this high does not mean we will come all the way back down but I do think we will see a short term retracement over the next few days to correct the current move.

Now currently on the 1 hour we have broken structure to the down side, would be good to see a clear 4 hour break of structure for more confirmation.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
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Trend is your friend... Impulse and correction.. There is no any Price Action to sell for now..
Trading Chaos method:

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