USDJPY

21 dic 2022So, i know i keep posting these extremely simple charts, but i just find it completely unnecessary to have all this crazy stuff all over your charts. In the 15 years I've been trading, I've never once found an indicator that was consistently accurate in FX. Sometimes isn't good enough. The best indicator we have is our eyes. Caught this bounce after yesterday yard sale on the Dollar vs Yen, I was so lucky to have taken profit on my previous position (See previous charts) or, i could have been stopped out quick. Now, im attempting to look into the future a bit here and seeing a possible hypothetical neckline bounce to create a right shoulder. IF the HNS builds and actually breaks out, it looks like we may find ourselves back to where we started, just before inflation decided to get all crazy. In the MEANTIME, those of you that read and didn't just look at the picture and move on, I've already initiated long positions at this neckline and will aim for a couple of hundred pips right here in anticipation of either a strong bounce from strong support or a possible HNS previously mentioned. If indeed a HNS forms, ill be back to talk about how it plays out

27 dic 2022

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so its working out pretty much as expected so far, obviously this is a very long term chart being the weekly but the play is still looking ahead for the future