2018.11-27 FX-ON posting time 18:10 Yen-Dollar price movement forecast and scenario
To consistently win in FX with discretionary trading, it is important to establish a solid strategy
To win at discretionary trading in FX, in the near future,you must have a clear image of what to do and when to act.“There’s no way to know that.”
“Impossible unless you’re a specialist.”
If you think so, become a reader of this site and watch the articles and results.
You will surely notice how remarkably accurate those scenarios are.
With that preface out of the way, let’s lay out the price movement scenarios that form the foundation of strategy.
Today’s USD/JPY forecast: Constructing a scenario for USD/JPY price movement
4-hour chartshows that it has become a triangular consolidation.
Normally, it would reach the resistance near 113.900, but if it fails to reach it and breaks below the current range, there is a possibility of a drop to the lower support level.
For those who have taken a long position, if this sign appears, it might be prudent to exit immediately.
Conversely, if it reaches the resistance near 113.900, the chart’s tendency suggests a breakout rally, which could be hot.
＜2018.11.27 05:56 Newsletter Distribution＞
● Scenario 1
If the range from 113.500 to 113.650 is broken upward, it would rise to around 113.800–113.900, then consolidate or pull back. If it breaks out of the range upward, it could rise toward 114.000–114.100. If it breaks down or consolidates, it could fall to around 113.450–113.550. After rising to around 114.000–114.100, it may enter another consolidation phase.
● Scenario 2If the 113.500–113.650 range breaks downward, it could fall to around 113.450–113.350, then consolidate or pull back. A breakdown of the range could push it to around 113.250–113.150. A breakout upward or consolidation could lift it toward around 113.650–113.550. After dropping to around 113.250–113.150, it may again consolidate or pull back near that area. A breakdown below the range could push to around 113.050–112.950. A breakout upward or consolidation could push to around 113.550–113.450. If a move down to around 113.050–112.950 occurs and the downside momentum strengthens, it could fall toward around 112.800–112.600.
If the range from 113.500 to 113.650 is broken upward, it would rise to around 113.800–113.900, then consolidate or pull back. If it breaks out of the range upward, it could rise toward 114.000–114.100. If it breaks down or consolidates, it could fall to around 113.450–113.550. After rising to around 114.000–114.100, it may enter another consolidation phase.
● Scenario 2If the 113.500–113.650 range breaks downward, it could fall to around 113.450–113.350, then consolidate or pull back. A breakdown of the range could push it to around 113.250–113.150. A breakout upward or consolidation could lift it toward around 113.650–113.550. After dropping to around 113.250–113.150, it may again consolidate or pull back near that area. A breakdown below the range could push to around 113.050–112.950. A breakout upward or consolidation could push to around 113.550–113.450. If a move down to around 113.050–112.950 occurs and the downside momentum strengthens, it could fall toward around 112.800–112.600.
Imagining an Uptrend Scenario
To be continuedhere
Imagining a Downtrend Scenario
To be continuedhere
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