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USD/JPY Short Setup for the Patient Traders

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Direct from the desk of Dane Williams.



When I said we don't need to be first to make money in USD/JPY, I wasn't talking crap.

8 days later, let's take another look at the USD/JPY higher time frame zone that's still in-play.

USD/JPY Daily:

Zzzz...

Hasn't moved, has it?

From that last post I said this:

Now zoom into an intraday chart and look for the first area of short term support to be retested as resistance.

That's your entry signal and a second zone to clearly manage your risk around.

I normally like to keep things on the blog high level in order to save the intraday thoughts for my email daily note, but since I haven't had the time to get it back up and running, I'll just share the zones below.

USD/JPY Hourly:

The larger grey box is obviously the higher time frame resistance zone from the daily chart, while the white box is the intraday short term support that we want to short off when retested as resistance.

Look at how many chances we've already been given.

Can you see what I mean?

I haven't always been a patient trader, but it's definitely a skill that you can develop, no matter what type of personality you possess in your day to day life.

As retail traders, we're never going to beat the smart money, because we simply don't have the size to move markets.

But what we can do, is try to understand the accumulation habits of the big boys and ride on their coattails.

A strategy that surprisingly (to some), doesn't require you to be glued to your screen, watching a tick chart.

Best of probabilities to you,

Dane.



FOREX BROKR | Hive Blog Higher time frame market analysis.

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