Categories: Technical Analysis

Selling USDJPY at major resistance

The USDJPY pair made a strong move up, creating band to band move on the H4 chart which is also a key resistance level. The plan is very simple we drop down to intraday time frame and look for a break of the most recent trend line in order to trigger the sell.

Technical Analysis:
H4 – band to band move on the bollinger bands, resistance

H1 – 20 + candles ride

Entry:
M15 – Look for break of the most recent up trend line and last support zone inside the SELL ZONE.
Target 1: H1 20 MA
Target 2: 119.60
Stop Loss: above last high created

Video Explanation:

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.