USDJPY Analysis
Short Term: NSH
- Market has had it's first real correction since 3:15 am GMT.
- 7 harmonic patterns had completed so haven't really observed that before
- Market made a short term NSH
Expectation: Since market made a NSH, would like price to come down to my AOI to take the long position. It would be a risky trade since i am trading against the long term expectation, but good R:R ratio and expect price to complete the long term objective
Long Term: NSL
- Market is obviously overall bearish
- There was a huge harmonic completion (see 15m chart)
- The bears had a huge run last night so the bulls will look to recover. So price might come back to the 61.8 Fib of the main swing at 110.170. I could be wrong but if i'm right there's a lot of money to make going up as well before market decides to go with the long term expectation which is a NSL
Expectation: Price to come to the 61.8 Fib of the main swing at the 15m chart and go short. All depends on the intraday movements
Short Term: NSH
- Market has had it's first real correction since 3:15 am GMT.
- 7 harmonic patterns had completed so haven't really observed that before
- Market made a short term NSH
Expectation: Since market made a NSH, would like price to come down to my AOI to take the long position. It would be a risky trade since i am trading against the long term expectation, but good R:R ratio and expect price to complete the long term objective
Long Term: NSL
- Market is obviously overall bearish
- There was a huge harmonic completion (see 15m chart)
- The bears had a huge run last night so the bulls will look to recover. So price might come back to the 61.8 Fib of the main swing at 110.170. I could be wrong but if i'm right there's a lot of money to make going up as well before market decides to go with the long term expectation which is a NSL
Expectation: Price to come to the 61.8 Fib of the main swing at the 15m chart and go short. All depends on the intraday movements