Igtrader
USD/JPY IS WEAKER ON CHART !OANDA:USDJPY
usd/jpy forming a head and shoulder in daily chart which is reversal pattern going for bearish side.
Rules to enter the trade do not trade if you don't follow the rule before entering.
buy if price touch the neckline and take a support.
keep a proper stop loss and target will be the neck line marked on the chart.
if price not come to its neck line then its okay wait for the price to touch shoulder level
enter the sell side if u see a rejection from the shoulder level with a proper stoploss.
first target will be the neckline marked on the chart and the second target will be second line market around 126
Book profits on the target mentioned and if u have experiance in trading trail your stop loss and get the big wins.
That is all for USD/JPY. all the best to all of you have a profitable week.
NEW YEAR GIFT TO EVERYONE.OANDA:XAUUSD
reasons of bullish rally expected
USD bullish up to 90 to 95 levels which is negative relation with stock markets.
when there is bearish market people switch there investments to asset like gold and silver.
near the resistance level which have been tested 4 times now expected to break as gold has also broke its resistance level now.
These are all my observation for the rally.
all the best and happy new year to everyone.