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Long

USDJPY DAY BULLISH CONTINUATION

FX:USDJPY   U.S. Dollar / Japanese Yen
Pair has room to continue to the top of the 4H channel. Profit zone is 800 sma and top trendline .
Comment: Pair hit TP at 800 sma

Comments

Following you for a while ! Keep up the good work ! What about pair GBP/AUD, the pair with most pips on average of the entire forex??

One question, regarding the MA you have displayed on your charts, when it crosses both 50 and 100 , the 800 becomes the target? Or alternatively, the 100 becomes the target when its above both 50 and 800 ?? Is that correct?
Reply
@SuperMike7, The 50 and 100 sma are my guides for price movement on my charts. Price trends, ranges or consolidates. When price moves in between the 50 and 100 sma I call that my in side range. Price can move quickly through both or mostly it will consolidate. If I enter an inside range trade I do not expect to have price momentum going through that space. Also many times price will move from one ma to the middle of the inside range and then return to that original ma and either cross back over that ma and continue moving away. Or price will make a second attempt to cross through the inside range to the other ma and complete it this time. When price is in a trend or a larger range it can be far away from these two ma's. Price will want to return to these ma's . Price will either bounce off the first ma and continue the trend or return to the range res/sup line. Or price will go through the inside range and continue on. In this case when price crosses the last ma it will move with momentum. I always look for the 800 ma and see how long price has not touched it. So if price structure looks like the 800 sma could be a TP I use it. I also try to see if there is a larger range box price is moving back and forth in and use those sup/res lines as TP. If price moves up to the top of the larger range and makes new highs then possibly a new trend is starting. Watch for fake break outs from the range box so I usually will wait on the breakout for a break of the trendline - a hook back toward the trendline - and a go with continuation candle patterns with the new trend.
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