USD/JPY prediction 21 march 2020
Atualizado
We just had a big bullish trend. On longer time frames like the 1d you wil see a bearish trend and you will see that we are close to the upper trend line. There is big likelihood of a change in short term momentum, and a trend continuation of the longer time frame. If this is the case the pair will or directly reverse or it will got the 112.000 zone and then reverse.
I don't like trading against the rend so I will wait for confirmation and then I wil enter. Whenever I trade against the trend I lose so my advice is to wait for bearish momentum.
I selected multiple target zones (the red lines). That are old support/ resistance zones where you can lock in profits.
You can set a s/l above the old top or above the longer term trend line, if it will hit your s/l there is a big chance the the bullish momentum will take over after a long long time.
The markets are more sensitive than normal because of the corona virus so be careful, your trades can easily go total differents way then you expected!
Let me know what you think and if you have any criticism let me know. (I think it's important that we take criticism to learn from.)
Have a good day.
I don't like trading against the rend so I will wait for confirmation and then I wil enter. Whenever I trade against the trend I lose so my advice is to wait for bearish momentum.
I selected multiple target zones (the red lines). That are old support/ resistance zones where you can lock in profits.
You can set a s/l above the old top or above the longer term trend line, if it will hit your s/l there is a big chance the the bullish momentum will take over after a long long time.
The markets are more sensitive than normal because of the corona virus so be careful, your trades can easily go total differents way then you expected!
Let me know what you think and if you have any criticism let me know. (I think it's important that we take criticism to learn from.)
Have a good day.
Nota
If it breaks the upper side trend line (yellow) or the withe line, the momentum will possibly be bullish so then I will look for a buy position. But seeing a reverse will have a bigger possibility in my pov.Nota
Damm, this was perfect
Aviso legal
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