LONG IDEA FOR NEXT WEEK – USDJPY – 4 HOUR CHART


SEE PICS BELOW!

WEEKLY CHART
– price currently in a uptrend making higher highs and higher lows
– weekly candle closed above the monthly key level (black line)
https://www.tradingview.com/x/53ZLeV5x/

DAILY CHART
– price in a overall uptrend (confluence with the weekly chart)
– daily candle closed above the monthly key level
– strong bullish candle broke through the monthly level
https://www.tradingview.com/x/Wapr9nIt/

4 HOUR CHART
– price in a strong uptrend (three timeframes in confluence with the trend)
– price making higher highs and higher lows
– nice strong bearish candle printed on the 4 hour chart
– price to signal a downtrend if price breaks 113.047 level
ENTRY
– looking for price to retest the monthly key level of 113.700 (nice round number)
which has been tested as S/R multiple of times (looking left)
https://www.tradingview.com/x/jZlNTnIr/

TARGET
– looking for a test of level 114.524 which has been tested previously
– if price does reach target area, will be looking for shorts from 114.524 level

By admin