USDJPY - Bearish Shark at 114

2017年10月2日

The USD is strong.

Will not be surprised to see USDJPY challenge 114 where it will complete a bearish shark pattern.

Close to 114, I hope some of these will happen for it to be a better quality short.

1. Ultra high vol selling taking place before it hits 114
2. Low vol reversal after touching 114 which closes with high spread at the lows

Will be watching out for this.

Tentatively, these will be my levels.

EP: 114
SL: 114.80
TP: 109.40

2017年10月23日

註釋

This Shark pattern has finally completed at 114 after 3 weeks.

Will be looking for one final test of 114 before going short.

2017年10月25日

註釋

A double top has formed on USDJPY.

However, the trend is still strong.

It will not just drop without any high impact news or a meaningful consolidation.

I will be patient and wait for at least this trendline to break and short upon any pullback.

This is combining the best essence of VSA and Harmonic patterns, to get in just before the big move.

2017年10月25日

交易進行

Entered short at 113.95

SL 114.40

2017年10月26日

註釋

Anyone joined me on this ride?

2017年10月26日

註釋

Shifted stop loss to entry point at 113.90.

If price wants to fall it should be now after the high impact news.

Else it should go back up and we will breakeven on this trade.

2017年10月27日

交易結束：達到停損點

Got stopped out at my protective stop loss level yesterday.

Again, while reflecting, this is a big counter trend trade.

If it wants to change direction, it should be backed up by high impact news or after a long period of consolidation.

2017年11月3日

註釋

Re-entered on a H4 double top.

This 114 area proved difficult to overcome.

Easily a move to 109 if 114 holds.

SL 114.60.

2017年11月7日

交易結束：達到停損點

Got stopped out on Monday morning again on USDJPY. -60 pips.

We were so close to the weekly resistance, should have allowed a bigger buffer.

This is an error I kept committing the past 2 weeks.

Hope to learn from my mistakes and trade better going forward till the rest of Nov.