Sensei

09:40

Sensei

A Simple explanation of my trading strategy using support and resistance zones for breakout trading. Enjoy

Sensei

Really great looking break of support here. The next support area area the 128.oo region looks like a perfect target

Sensei

looking for a bearish break here from this awesome looking distribution/consolidation of price action. Wait for confirmation and enjoy

Sensei

Great looking zone. a bit of bullish confirmation from the price action within this zone will trigger me long. Happy hunting

Sensei

Looks like a stage 3 distribution on this timeframe. i think we get a bearish breakout and correction here. Sell the break

Sensei

Sell orders should be favored for the zone above current price around the 143 levels. Watch closely

Sensei

Great looking zone. Entering a short position and will add/reduce to it as price action dictates> However a bullish breakout is certainly possible so i'll hedge my position my buy stops about 70 pips above the zone for protection. Lets go

Sensei

Great looking zone here that has been tested many times and held firm. Current price action is indicating more bearishness to come, as is the case with many other yen pairs at the moment. A short here with a stop above the zone is my trade. take profit accordingly

Sensei

Looks like we pushed though the demand zone there. The area should now act as supply. Watch price action closely for bearish flag pattern to shape up to get prime short entries. High probability scenario. Happy trading

Sensei

If current candle closes as such then breakout will be confirmed. Looking for a re-test of the structure and a bounce for a bullish entry signal.

Sensei

Could break. could bounce. Read the price action to find out. Either way it goes, this should be a nice trade. Be ready

Sensei

A couple ways this can play out, as i've illustrated here. If current price action continues to get rejection along this trend line i'll enter a short with a target for for the support level below.

Sensei Updated 

This sideways consolidating pattern is nicely disciplined. 1.29100 has been a great level to take short positions. Love the fact that this pattern has played out very well recently off to the left of this chart frame. high probability. Lets see

Sensei

This could break either way. i love the resistance level so i am leaning towards a bearish move from these levels

Sensei

I see a lot of analysis out there making the case for a long on this pair... i disagree. Based on my own analysis, i see a major uptrend line being broken and a re-test occurring in the form of a bearish flag pattern. I also see very probable/plausible bearish cases for many other yen pairs. If i get bearish confirmation here for the flag pattern thats setting up,...

Sensei

Love the candle rejection here from the triangle structure that broke out and came back for a re-test. An immediate short with the stop loss above most recent swing high is my trade. Lets see...

Sensei

Loving the confluence. Many factors coming together to give a sell signal here. Looking for a bit more confirmation from the price action, a bearish move from out the red shaded supply area would be a great trigger. Lets see if we get that. Enjoy

Sensei

Good looking supply zone. Liking the immediate rejection of price as soon as we started to interact with the zone. An immediate short entry with stops placed above the zone will be my trade. Many other JPY pairs are shaping up similarly so look for cross correlation. Enjoy. Trade responsibly