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We are waiting for activation of one of the limit orders

We are waiting for activation of one of the limit orders | 20 November 2015

20 November 2015, USD/JPY

Daily chart: the downward swing lacks one intersection down, upon that, we need to keep the last bottom (122.22), otherwise a massive southern Over&Under will be formed by and as a result, a trend will reverse down.

H1: until now none of the two counter O&Us was activated, so the only correct tactic is to wait. Let me remind you that we buy from the bottom of the band 122.55 and sell from zone of 123.45 from the top.

Expectations:

1) drop to 122.55 and then rise towards 123.45

2) Finalization of 123.45 and from there fall to 122.55, which will be followed by beginning of movement under the first scenario.

solutions: we are waiting when one of the limit orders triggers

Aleksey Panasenko
Analis perusahaan "FreshForex"
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