Logistic Wealth Management Market Analysis.
USDJPY Daily has been trading in a very bullish channel from 6/14 - 7/12. In past experience once these channels break you get one good burst back to the channel after the fact before rolling over. Unfortunately there are no good trends in place on the daily/weekly to support our direction. Other than the previous top at 114.300, this trade is based solely around my previous experience with these technical setups.
-Seriously trade at your own risk.
The understanding here, as noted previously, is that current market conditions indicate DXY struggling over the next few days/weeks. With a weak USD, XXX/USD pairs trade higher, interactively USD/XXX pairs trade lower.
This trade setup is supported by our overall market thesis.
While it looks like price is on the move without us. It is my way or the highway. If USDJPY lets me in around 114.000 I will be comfortable taking this trade, even if it is a straight up loss.
Target at 111.000
Entry 113.890
Stop at 115.650
Logistic Wealth Management
Strategist: Virginia TElphee
7/17/17
Logistic Wealth Management is a fictional retail trading firm. We do not sell investment/trading advice. Trading View is solely used by our independent analysts for documentation and recognition purposes. Disclaimer:Trade at your own risk.
USDJPY Daily has been trading in a very bullish channel from 6/14 - 7/12. In past experience once these channels break you get one good burst back to the channel after the fact before rolling over. Unfortunately there are no good trends in place on the daily/weekly to support our direction. Other than the previous top at 114.300, this trade is based solely around my previous experience with these technical setups.
-Seriously trade at your own risk.
The understanding here, as noted previously, is that current market conditions indicate DXY struggling over the next few days/weeks. With a weak USD, XXX/USD pairs trade higher, interactively USD/XXX pairs trade lower.
This trade setup is supported by our overall market thesis.
While it looks like price is on the move without us. It is my way or the highway. If USDJPY lets me in around 114.000 I will be comfortable taking this trade, even if it is a straight up loss.
Target at 111.000
Entry 113.890
Stop at 115.650
Logistic Wealth Management
Strategist: Virginia TElphee
7/17/17
Logistic Wealth Management is a fictional retail trading firm. We do not sell investment/trading advice. Trading View is solely used by our independent analysts for documentation and recognition purposes. Disclaimer:Trade at your own risk.
Order cancelled
Price has moved without us. Entries considered at that level, but price will need to confirm first. Hesitation to enter costs us this one, but at least it was identified.
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.
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.