- #80,768
- Jun 28, 2019 7:39am Jun 28, 2019 7:39am
- Joined Jul 2017 | Status: Active member | 1,655 Posts
- #80,769
- Jun 28, 2019 9:18am Jun 28, 2019 9:18am
- Joined Dec 2013 | Status: Trader | 1,942 Posts
Learn, a forex trader must, unlearn and relearn he will.
- #80,770
- Jun 30, 2019 3:59pm Jun 30, 2019 3:59pm
- Joined Dec 2015 | Status: Trader | 8,759 Posts
Here's a top-down technical perspective on USDJPY.
On the daily time frame, price action is operating in a falling channel (blue) and bullish prints are bearing northwards, perhaps to retest the channel resistance line. Technically there are barriers to any northward move, including the 108.450 minor horizontal resistance (magenta) and the 109.540 significant horizontal resistance. Nevertheless, any retracement is likely to be temporary and a sell trading opportunity is a more feasible option.
On the H4 time frame, early price action on Friday favoured a bullish response but bears became influential later. So, we had an ambivalent situation. Therefore, how price action plays out in the early part of this week should be watched. I hold a bearish bias USDJPY but a feasible sell trade is not likely to materialize until a northward pullback to an area of value. I will wait for a favorable northward pullback before committing to any sell trade.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, price action is operating in a falling channel (blue) and bullish prints are bearing northwards, perhaps to retest the channel resistance line. Technically there are barriers to any northward move, including the 108.450 minor horizontal resistance (magenta) and the 109.540 significant horizontal resistance. Nevertheless, any retracement is likely to be temporary and a sell trading opportunity is a more feasible option.
On the H4 time frame, early price action on Friday favoured a bullish response but bears became influential later. So, we had an ambivalent situation. Therefore, how price action plays out in the early part of this week should be watched. I hold a bearish bias USDJPY but a feasible sell trade is not likely to materialize until a northward pullback to an area of value. I will wait for a favorable northward pullback before committing to any sell trade.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #80,773
- Jul 1, 2019 5:57pm Jul 1, 2019 5:57pm
- Joined Apr 2017 | Status: trying to make money | 3,341 Posts
Don't Worry Be Happy
- #80,774
- Jul 1, 2019 6:04pm Jul 1, 2019 6:04pm
- Joined Jan 2019 | Status: Trader | 2,656 Posts
Don't compare your trades to others. Most often the masses are the asses
- #80,777
- Jul 2, 2019 8:02pm Jul 2, 2019 8:02pm
- Joined Apr 2017 | Status: trying to make money | 3,341 Posts
Don't Worry Be Happy
- #80,778
- Jul 2, 2019 11:51pm Jul 2, 2019 11:51pm
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#USDJPY / H4 / Bearish Idea 
- #80,779
- Jul 3, 2019 1:18pm Jul 3, 2019 1:18pm
- Joined Dec 2013 | Status: Trader | 1,942 Posts
Learn, a forex trader must, unlearn and relearn he will.
