Limiurrmis
Recruit
- Messages
- 2
Recent bullish momentum on UJ is definitive of JPY weakness than USD strength
pezz55
Sergeant
- Messages
- 204
USDJPY
Back with a similar set up to last week with the break of structure on the 1 hour TF .
With this set up I am looking for 1 of the 2 set ups to form at my points of interest. Looking at both sides of the market for an intraday sell and longer idea to buy.
With the sell set up I am looking for a retracement in to the OB an then continuation pushing further down breaking the lows and in to the Gap.
Or for the Buy for price to continue down to the gap towards the bottom and then back above the old highs.
Both of these set ups would yield around 5% account growth so looking for a good entry is important also.
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.
Back with a similar set up to last week with the break of structure on the 1 hour TF .
With this set up I am looking for 1 of the 2 set ups to form at my points of interest. Looking at both sides of the market for an intraday sell and longer idea to buy.
With the sell set up I am looking for a retracement in to the OB an then continuation pushing further down breaking the lows and in to the Gap.
Or for the Buy for price to continue down to the gap towards the bottom and then back above the old highs.
Both of these set ups would yield around 5% account growth so looking for a good entry is important also.
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.
pezz55
Sergeant
- Messages
- 204
USDJPY
This pair came back to take out the highs again, from here we can map out what happened after the high got taken and how we could take advantage of the situation day trading.
But currently on the higher TF we are still bullish.
with no current set ups or clear direction I though I would share some of my thought process when looking at charts and reading levels.
This is somthing important to practice and learn, identifying areas and concepts that you would look out for when trading.
Study the charts and how they are moving.
Let me know what you think.
This pair came back to take out the highs again, from here we can map out what happened after the high got taken and how we could take advantage of the situation day trading.
But currently on the higher TF we are still bullish.
with no current set ups or clear direction I though I would share some of my thought process when looking at charts and reading levels.
This is somthing important to practice and learn, identifying areas and concepts that you would look out for when trading.
Study the charts and how they are moving.
Let me know what you think.
SimonMatthews
Private, 1st Class
- Messages
- 30
This is a good learning tool, thanks for taking the time to share. I can see your reasoning behind this.
pezz55
Sergeant
- Messages
- 204
USDJPY Trade idea
This pair is currently in consolidation and waiting to break out. For a while now this pair has been bearish dur to dollar strength and yen weakness. This week we have seen the Dollar rally again but with USDJPY holding showing a form of divergence.
With NFP tomorrow I will be looking for a manipulation move to the upside and then feel we could head south back in to the old FVG low.
This is just an idea for now and we could see the opposite happen depending on the market makers. But just remember news gives an opportunity to drive price. Therefore we do not trade the news event but the aftermath. This idea would take the buyers out the market and then form a BOS bearish on 4hour 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.
This pair is currently in consolidation and waiting to break out. For a while now this pair has been bearish dur to dollar strength and yen weakness. This week we have seen the Dollar rally again but with USDJPY holding showing a form of divergence.
With NFP tomorrow I will be looking for a manipulation move to the upside and then feel we could head south back in to the old FVG low.
This is just an idea for now and we could see the opposite happen depending on the market makers. But just remember news gives an opportunity to drive price. Therefore we do not trade the news event but the aftermath. This idea would take the buyers out the market and then form a BOS bearish on 4hour 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.
sebking1986
Private
- Messages
- 622
Likely going to be rather choppy with NFP today and the assassination in Japan.
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