USDJPY Update: MAJOR Move Well Underway! +470 pips

Current Trade: SHORT Results: +475 pips and counting

Back on 4/25, I posted that I was projecting that prices were moving up to fill a POTENTIAL Cypher. Here is that post:

Prices didn't EXACTLY follow the path I laid out (the markets don't listen to me!) for it to get to that cypher but it did get there! And it got there rather explosively leaving behind a rare (in forex) breakaway gap that still as of now has not been filled in yet. And in forex especially, ALL gaps eventually get filled in.

When that cypher completed and I saw the SELL setup present itself, I issued a SELL call on 5/9 to my followers and we have been riding that gravy train all the way down to where it is now just about to....tada! .....FILL THE GAP! The combination of the completed cypher and that gap which I knew needed to be filled pulled prices like a magnet and proved to be an excellent SELL setup! To the tune currently that we are in profit over +470 pips so far! How are you doing? Did you catch it?

In any case, what I want to tell you though is that this drop down to fill the gap...is probably NOT the end of the overall move down and that there is MORE downside yet to go! I've given out the full analysis already explaining why I say that. PM me for more info.

In the meantime, here is the larger picture of what I think is possible but of course:

I continuously analyze and re-analyze and make adjustments as I see fit. If you want updates, PM me.

Kommentar:

Closed the trade and pocketed +430 pips. Will be looking to for another great trade soon! Just because I closed the trade does not mean that I am seeing any major reversal coming. Just exercising some caution as the FOMC is due in 2 days.