My apologies for the cluttered chart, but there's a lot going on on this pair & I wanted to show you everything that I took into account when performing my analysis on this pair.
Last week we identified a potential Head and Shoulders pattern setting up on the USDJPY and we ended the week with a confirmation of that reversal pattern with the break and close below the neckline. I'm now looking for a retracement higher and the opportunity to jump on the next extension down.
In order to project the first level that I'll be keeping an eye on for a potential reversal I used my Fibonacci Tool to find confluence between retracement, extension & inversion levels. I also used a project equal measured move along with "LOOKING LEFT" of course.
The same was done to project an initial level that I could consider for profit taking.
Again my apologies if it's a little confusing but I just uploaded a 30 minute video walking through this entire setup if you need a better visual.
Good luck in the markets this week traders. I wish you all the best, and I appreciate all of the support that you've shown since I've found time to become more consistent here on Trading View.
Keep it up and I appreciate each and every LIKE & COMMENT!!
Akil Stokes
Go EVERTON!
Last week we identified a potential Head and Shoulders pattern setting up on the USDJPY and we ended the week with a confirmation of that reversal pattern with the break and close below the neckline. I'm now looking for a retracement higher and the opportunity to jump on the next extension down.
In order to project the first level that I'll be keeping an eye on for a potential reversal I used my Fibonacci Tool to find confluence between retracement, extension & inversion levels. I also used a project equal measured move along with "LOOKING LEFT" of course.
The same was done to project an initial level that I could consider for profit taking.
Again my apologies if it's a little confusing but I just uploaded a 30 minute video walking through this entire setup if you need a better visual.
Good luck in the markets this week traders. I wish you all the best, and I appreciate all of the support that you've shown since I've found time to become more consistent here on Trading View.
Keep it up and I appreciate each and every LIKE & COMMENT!!
Akil Stokes
Go EVERTON!
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tieronetrading.com/
🎵Check Out My Top-Rated "TRADING COACH PODCAST" (Available On Your Favorite Podcasting App)
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Learn To Trade (Coaching, Courses & Community)
tieronetrading.com/
🎵Check Out My Top-Rated "TRADING COACH PODCAST" (Available On Your Favorite Podcasting App)
tieronetrading.com/
🎵Check Out My Top-Rated "TRADING COACH PODCAST" (Available On Your Favorite Podcasting App)
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.