Based upon my filters this pair looks as if it can switch bulllish for a nice 24-48 period.
I do believe the banks have a position sitting at 107.15 still and they need to close it. This is my target for this pair which ALSO gives me a bullish bias as well.
So the question is, if I'm bullish where do I buy?
I have two zones drawn PLEASE READ!
Zone #1 I create off of the 5 minute chart, there was a very strong impulse move up that I believe the banks added to positions heavily.
Zone #2 is a trap move off of the 4h and that one is a typical zone I use. Look for the banks to protect that zone too.
Entry
i'm looking for an entry at either zone. The triggers are the same.
I'm looking for a harmonic pattern to complete in or at the zone.
I look for my entry 30 min before or after a session open/close and I look for divergence.
USDJPY just gave an entry signal. I believe NY will be the best time to enter though.
I will post additional photos below this, because there is a lot going on here, and putting it all in one picture would get confusing.
I do believe the banks have a position sitting at 107.15 still and they need to close it. This is my target for this pair which ALSO gives me a bullish bias as well.
So the question is, if I'm bullish where do I buy?
I have two zones drawn PLEASE READ!
Zone #1 I create off of the 5 minute chart, there was a very strong impulse move up that I believe the banks added to positions heavily.
Zone #2 is a trap move off of the 4h and that one is a typical zone I use. Look for the banks to protect that zone too.
Entry
i'm looking for an entry at either zone. The triggers are the same.
I'm looking for a harmonic pattern to complete in or at the zone.
I look for my entry 30 min before or after a session open/close and I look for divergence.
USDJPY just gave an entry signal. I believe NY will be the best time to enter though.
I will post additional photos below this, because there is a lot going on here, and putting it all in one picture would get confusing.
Note
5M ZoneNote
Harmonic Entry #1Note
Note
Shark EntryNote
What other traders see? Just a thoughtNote
Still have not entered, best bet is to wait for H1 confirmation, don't want the rug pulled from underneath us
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Disclaimer
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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.