USDJPY, Bounce off 0.618, completion of W pattern
Long term, monthly charts, we're seeing a bounce off of the 0.618 fib support level.
The weekly candle suggests strong support and a good probability for the last leg of the W pattern to be completed.
Watch the intermediate resistance levels till how far this can go for your TP.
The weekly candle suggests strong support and a good probability for the last leg of the W pattern to be completed.
Watch the intermediate resistance levels till how far this can go for your TP.
Trade active
Adjusted the entry a bit:Trade closed: stop reached
you win some, you lose someTrade active
I thought for sure this would hit my stop, but it didnt.Trade closed: stop reached
My stop was already reached, but I may try a buy again next week. Lets see how this weeks candle closes
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.