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1 (edited by StevenG 2019-08-19 09:34:44)

Topic: [Weekly updates] USDJPY trading strategy

[August 19-23, 2019] USDJPY trading strategy: waiting signal to SELL

1. Analysis of W1 trend chart
USDJPY chart with W1 frame:
https://i.postimg.cc/GTPpPzdz/t8-19-23-USDJPY-W1.png

USDJPY market analysis strategy
USDJPY trend on W1 frame is moving sideways in a large range of 104.70 - 114.70.

The current price is at the support of the sideways price.

Observing the W1 candle is not enough to predict a reversal since this week's candle has a closing price lower than the opening price of the previous week's candle.

2. Analysis of chart trends D1
USDJPY chart of D1 frame:
https://i.postimg.cc/3yyJf33k/t8-19-23-USDJPY-D1.png
USDJPY market analysis strategy
The trend of USDJPY on D1 frame is a downward trend.

Price broke support at 107.00 and tested again 1 time. However, with the very strong D1 candle on Tuesday, the "inertia" remains and will test the area of 107.00 again.

This is a SELL opportunity on H4.

3. Analyzing points in H4 chart
USDJPY chart H4 frame:
https://i.postimg.cc/LJjp0D7M/t8-19-23-USDJPY-H4.png

USDJPY market analysis strategy
As mentioned above, we shall wait for USDJPY to rise to the resistance zone, waiting for the reversal signal => SELL.

The good area to watch for the SELL will be the Fibonacci Retracement 50, even the price could sweep to the Fibo 61.8 area.

4. Conclusion
If you do not have USDJPY trading orders:

Wait for a reversal signal at the resistance zone 107.00 - 107.30 => SELL. SL at 108.30, TP at 105.20.

If you have a SELL USDJPY command:

Hold order and set SL, TP as above

If you have a BUY USDJPY command:

Close orders when there is a reversal signal at resistance 107.00 - 107.30. Completion of BUY order may be SELL as above.

Good luck!

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

2 (edited by StevenG 2019-08-26 16:03:27)

Re: [Weekly updates] USDJPY trading strategy

1. Analysis of W1 trend chart
Chart USDJPY frame W1:
https://sinvest.vn/wp-content/uploads/2019/08/26-30-th%C3%A1ng-8-USDJPY-W1.png

USDJPY trend of W1 frame is moving sideways and price is currently at the support of horizontal price channel.

W1 candle of the previous week is a W1 candle, but the closing price of the rising candle does not overcome the opening price of W1.

So even if USDJPY has strong support at W1, there is not enough sign of reversal.

This we said in the analysis report last week.

This week, the W1 candle dropped, covering the W1 candle rose last week, this is a signal that the downward momentum is still there, at least on a smaller time frame than W1.

2. Analysis of chart trends D1
USDJPY chart D1 frame:
https://sinvest.vn/wp-content/uploads/2019/08/26-30-th%C3%A1ng-8-USDJPY-D1.png

The trend of USDJPY D1 frame is clearly still down.

The price moves in a falling price channel and creates a new high and lower low.

After the price break through support D1 (on the picture), then retest and then continue to decrease.

D1 session candle on Friday is a very strong candle, so on H4 we will definitely continue SELL soup.

3. Analyzing points in H4 chart
USDJPY chart H4 frame:
https://sinvest.vn/wp-content/uploads/2019/08/26-30-th%C3%A1ng-8-USDJPY-H4.png

In last week's report, we wait for a reversal signal at the resistance zone 107.00 - 107.30 to SELL.

However, USDJPY only increased to 106.70 which was reversed, so you may not be able to access the SELL command.

As analyzed above trend W1 and D1, this week we continue to SELL soup when price corrects.

When the price is adjusted on H4, it is necessary to observe the reversal signals to enter the command, limit the SELL LIMIT order.

Because the price of touching the SELL LIMIT command is one thing, the way prices move to SELL LIMIT is a different story. You know what I mean?

4. Conclusion
If you do not have USDJPY trading orders:

Wait for the price to adjust to 105.90 - 106.10, observe the reversal signal => SELL. Stop loss at 107.00, take minimum profit at the bottom of old H4 105.10.

If you have a SELL USDJPY command following the previous week's strategy:

Hold orders and be ready to add new orders if there is a reversal signal when the price rises. SL and TP as above.

If you have a BUY USDJPY command:

Put SL hard at 104.80 and ready to close the order when the price rises to adjust (to decrease further).

Good luck!

Read more:
Review IC Markets
Review XM.com
Review Tickmill
Review NordFX

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Posts: 2

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