Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Note
Despite a positive NFP result on Friday, the US Dollar struggled below the 148 area to close the week with a 0.9% loss. From a technical standpoint and following the selling pressure around the 149/150 zone in the last couple of weeks, I am of the opinion that the USDJPY peak might not be far off as a possible breakdown of the current structure could incite the retracement of the bullish momentum that started in the month of August 2022. So, at this point patience is required as we need to wait for a signal in the form of either a breakout or breakdown of the current structure to determine where the price might move in the new week.Trade active
In the last 4 hours price has been trading right above the 147 level which has a strong memory for buying power. Good morning
Trade active
The current structure still supports buying above 147.000 areaTrade active
Patience is required here as selling pressure takes over this market. So, I have identified a selling window should the price climb above 146.650 but if selling pressure continues below 146.650 then we want to be ready to sell.Trade active
We continue to monitor price actionGood morning
Trade active
The retest of Trendline within the sell window; securing the position.Lets see if the market will present another opportunity to join the potential trend
Trade active
Securing positionTrade active
Over 200pips running in profit (2 positions) as bearish momentum takes over the market. Price action appears to be evolving into another opportunity to add position at the breakdown/retest of the 145.450 area.Trade active
Ready to be taken out of existing position as the position is secured. A reversal pattern is evolving and a neckline is identified at around the 145.700 area - counter-trend traders or scalpers could take the breakout/retest while keeping the option of joining a trend continuation to the downside open from the sell window.Good morning
Trade active
UPDATESelling pressure continues here. Breakdown/retest of the demand zone at 145.300 will welcome additional sell position
Trade active
The price is within the sell window now. Waiting for confirmation... Congrats to counter trend traders. Update coming soonTrade active
We are beginning to see selling pressure within the sell window identified. So, lets see if this reversal structure will mature in the form of a breakdown/retest of the 146 levelTrade active
Price remains within the sell window as multiple rejections of the 146.650 by the sellers continue.Trade active
UPDATESecuring position
Trade closed: target reached
Price just hit the TP with 220pips profit. Let see if the market will present another opportunity to add positionTrade active
Following the impulsive bearish move yesterday, we begin to notice a reversal pattern around the 141.000 zone with the neckline identified at 142.450. So, if a breakout/retest of the neckline happens, we might be seeing a counter-trend with retracement intentions.Good morning
Trade active
UPDATETrend continuation pattern identified
Trade active
UPDATESecuring current sell position
Trade active
Over 180 pips in profit; secure positionTrade active
It has been a profitable week... Congratulations to everyone who took part in this movement!Happy weekend to you
Trade smart. Trade consciously
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.