This is my first post of my chart sharing. Most of the time i am preoccupied with my trading activity, once I am available I shall share some of my insight on this website.
As we can see USDJPY is undergo strong downtrend after few weeks of consolidation. Key support of 110 has broken and all minor key support below 110 has broken, now it is heading to the another strong key support at weekly 200MA.
Currently USDJPY is testing weekly 200MA key support, if this support break means the price can free fall until 106 or even 100. This is definitely an important price action to watch.
If you ask me what is my take on the future heading, if you are a trend follower I think my strategy won’t suit you as I am applying counter-trend, in short I am bullish on USD and i am taking the advantage of the USD weakness and waiting for a reversal with my counter-trend strategy. Aside of USDJPY which i just started to join the fun today, I have been mainly focus on USDSGD which i have apply my counter-trend strategy for few weeks.
Why counter-trend? That shall be our future topic. I am excited to share with you all the reasoning behind it 😉
Below is the chart for sharing.
Ok, for readers who are new to trading or don’t know trading at all, what i am sharing on this article might sound alien to you but fear not, I will try to share bit by bit in my future articles. I will be sharing how I setup my own style counter-trend strategy too.
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Okay, I shall back to my trading. See ya!
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