Japan
buy 6J1! 30.06.2020hello dear traders, 6J1! is going finally up (bullish trend ) and that is good news ,and as probabilities shows that market will have a strong resistance, and there is a 20% that in that resistence market will be back in bearish trend, but in other way probabilities shows again that there is 80% that market will break that resistance to become a support and in that case we double our position))
Guaranteed Profits with Classical Support and Resistance Set-Up!In this idea I will share a support and resistance trade set-up for USD/JPY. After it found a strong rejection at the 109.500 level the price rapidly found its way to the support zone of around 106.000.
Just like at the beginning of March, this zone created strong support and awoke many bulls again.
Now that the support zone got confirmed, I suggest a long position for the new week where we monetize the scenario of the price going back to the resistance zone.
For this trade I suggest to enter as soon as possible, so enter the trade wherever the price opens this week. The take profit is slightly below the resistance zone to maximize the chances of getting hit. For the stop loss, place it tightly below the support zone to make sure to leave this set-up when the pattern gets invalidated.
These trades using support and resistance levels, especially after a confirmed support zone, have a very high chance of success. If you use proper risk management and use the right stop loss, you will be able to earn a lot of money using these strategies. Obviously one cannot 100% guarantee the success of each individual trade, but you can make sure to enter those trades with higher success rate.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
USD/JPY Don't Miss This Trend Reversal!We see here that USD/JPY has traded in a downwards channel for more than 3 days straight. However, just before the close last week, suddenly this trend broke and we found an interesting signal of a trend reversal.
You can wait for the open first for confirmation, but if the gap is bullish then we might have seen a temporary bottom, and you can long USD/JPY until great heights.
I suggested a nice and clean 2.0 Risk-Reward trade here. But if we do find confirmation after the market opens, you could also choose the ride the trend all the way until the end.
For trend traders I suggest a stop-loss that you move along upwards every time the price makes a higher high, such that you lock in your profits.
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Disclaimer!
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USD/JPY Best Buy Positions While Trading in Strong UptrendIn this technical analysis I will explain my current view on USD/JPY and why I suggest a long position. Also, I will explain what good areas are to buy it now that we are in an uptrend.
USD/JPY has been in an uptrend for almost a full week now. This means that buying is becoming more and more tricky. Remember to always try to buy low and sell high.
This means that you wouldn't want to buy at the end of an uptrend. Especially if you look at the RSI right now we see an >> overbought << RSI with a value of over 70.
This is an indicator that you shouldn't want to buy right now, but instead sell. Since I expect the uptrend to continue overall, I do suggest to enter a long position. The only thing we need to figure out is where to buy now.
If we look at the channel, we see that the price is now trading towards the top of the channel. Combined with the overbought RSI I expect that the price will retrace slightly. If it does, this creates a really nice buy opportunity.
You can wait for the price to drop towards the lower part of the channel, but also if we look at horizontal support we see a nice S/R flip that can indicate an area to buy.
After the buy, you can either hold it for a long time to trade the trend all the way to the end, or exit quicker as soon as the price is near the top of the channel again.
I suggest to leave the trade sooner than later, since the whole world and especially the US has lots of uncertainty right now.
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Disclaimer!
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USDJPY - last leg of triangle wave D, target above 111.7USDJPY is following the path forecasted in our post of May 2 and it is now tracing the last leg of the intermediate triangle wave D. This leg should reach levels above 111.7, but below 118. If price crosses down 106, this analysis should be revised. FOLLOW SKYLINEPRO TO GET UPDATES.
NI225 - potential of more than 15% returnsNI225 had a very small correction afgter the end of leading diagonal wave 1 and it its now tracing the eraly stages of intermediate wave 3. If this is the case, the price should continue to trend to the most probable target at 26,576. If price crosses down 20,530 this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.