The possibility of a 1100 pips movement for USDJPY
Updated
Hello everyone,
Something interesting is happening with USDJPY. On the monthly timeframe, we can observe a flag formation in the form of a purple area.
______________________________________________
Moving to the daily timeframe, we see two patterns forming in the midst of each other. I refer to them as the QM pattern and QM' pattern.
______________________________________________
With three confirmations and the presence of these patterns, I believe this is a good opportunity for a potential 1170 pip movement in this amazing pair!
My suggestion is to close half of the position once the target is reached and close the remaining position at the second target.
______________________________________________
consider this----> put your stop-loss below the FL (the purple area)
______________________________________________
As always, make sure to conduct your research. If you have any questions, feel free to ask them in the comments below and I will answer them. And please don't forget to support this idea with your likes and comments.
Something interesting is happening with USDJPY. On the monthly timeframe, we can observe a flag formation in the form of a purple area.
______________________________________________
Moving to the daily timeframe, we see two patterns forming in the midst of each other. I refer to them as the QM pattern and QM' pattern.
______________________________________________
With three confirmations and the presence of these patterns, I believe this is a good opportunity for a potential 1170 pip movement in this amazing pair!
My suggestion is to close half of the position once the target is reached and close the remaining position at the second target.
______________________________________________
consider this----> put your stop-loss below the FL (the purple area)
______________________________________________
As always, make sure to conduct your research. If you have any questions, feel free to ask them in the comments below and I will answer them. And please don't forget to support this idea with your likes and comments.
Note
the full picture!Trade closed: target reached
first target touchedTrade closed: target reached
the last target reached
👉my recommended broker:
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
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.