Distribution going on in UJ, another short opportunity ---USDJPY

Jul 5, 2018

Looks like big players are trying to distribute their longs before a big move down. A breach of this bearish orderblock will invalidate this play and I expect a re-test of the trend line. Short here is good.

Stop loss at 110.800 

Good luck.

Schematic of a typical wyckoff distribution

d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff3/wyckoffdistribution2.png

Jul 6, 2018

Note

Be very careful with this. It is now broken the bearish orderblock and is inside. It can go either direction now, but momentum is gaining for bulls. I would wait for confirmation before going short here. I still have a stop loss and would short re-higher if need be, because the bigger trend looks to be to the downside.

Jul 6, 2018

Trade closed: target reached

BAM! Ez profit.