USDJPY: Trading Plan For Next Week

hey traders,

after a very good long trade that we have taken this week, it is time to adjust our trading plan.

Next week I will be paying close attention to a rising wedge pattern that can be easily identified on 1h and 4h charts.
On Friday the market has closed approaching a support line of the wedge.
Most likely buyers will push the market higher from this point setting a new higher high higher close within the wedge.

On my focus will be a wide supply area 108.2 - 108.5.
Selling orders will accumulate in this zone and there will be a high chance to see a selloff.

Our confirmation signal will be a bearish violation of a rising wedge.
Target levels will be 107.9 and 107.5

Stop will be above the highest point of the wedge.

Good luck!

*Please, if you want more signals, support this idea liking it and leaving a comment, thank you!:)

評論:

back within the wedge