Uj
UJ UPDATE, PENGUINS NEVER SLEEPS :) USDJPY 11/12/2019
Hello Traders!
We would like to show you a game...
While Penguins are on the hunt, you can easily join them as well!
It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs.
Targets are marked on the chart as a crosshair.
Heart in the box - a place to jump in/out
Sign with exclamation mark - places to be aware of a few different types of reactions from this level
Target sign - the first target to focus on
Thunder sign - spot to react - possible jump to push into reversal
Penguin - expected direction
Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy.
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Thank you for your attention,
GOD BLESS U ALL!
USDJPY Potential CTL RetestI’ll be watching UJ along with US Equities & Gold to gauge whether or not this setup is truly risk off.
Ultimately, it is likely to bounce before a larger countertrend move to the downside. If no immediate rejection from the zone identified takes place, shorts could get rekt.
Whether up or down, a setup should materialize. Short term bullish, medium term bearish is what I’m thinking.
Side note:
We have Cheeto Bandito in the Whitehouse with dusty hand puppet Jerome Powell going absolute full send hyperinflation (QE )straight into equity futures.
USD/JPY: Don't sleep on this short opportunity Yesterdays setup was very specific and for good reason. Our specific strategy for this short setup yesterday was designed to be able to resist any "fake outs" or simple upside that came from the pair at the key levels shown in those charts at that time. Yesterday's amount of short sellers who're either close to being margin called or already hav given us the ability to jump in with there stops.
Yesterday's failure for price to reject said zones/levels and break, sustain, and close below them, showed both the lack of liquidity, and follow through/ conviction in the market. This can be attributed to a few things, namely;; seasonality. Since then, UJ has pushed up and we can now look for trades in a different setup. It's interesting at the current levels however, making a new higher-high which gives us an opportunity regardless of shorter term 40hr bias. 110 out my upside this week at this point. This is taken into account using options data from Bloomberg. There are a lot of option expiring both in the 110 and 108ish key levels so it's key remember this can go long. I'll place the options data below,
USD/JPY
108.00 1.5bn USD
108.10 603m
108.35 626m
108.40 400m
108.45 740m
108.50 810m
108.65 454m
108.70 429m
108.72 419m
108.75 400m
108.90 532m
108.95 1.3bn
108.96 665m
109.00 891m
109.15 995m
109.50 790m
109.75 540m
109.80 480m
110.00 1.4bn
USD/JPY Higher Highs, Higher Lows....BUT (SHORT) Usd/JPY has a clear up-trend in play, however we approached a important level of resistance where it absolutely melted from this level the last time (RED).
I have two take profit targets, Pulling out the FIBB Retracement tool will be helpful as well.
Enjoy!