The LIVE COACHING CALL Starts At 4:30pm Eastern Time Wednesday! Make Sure to Sign Up Today!
USDJPY Breakout
Written by Joseph/ Feb2021
***Before you continue... you agree and understand that the information on this website and the blog articles are information and education only!!! these are not trade recommendations and if you are not in the coaching program you wont have access to updated information on these trades that I talk about in this blog posts. please do not chase a trade.
This trade setup began with the Daily time frame (for me) as I watched price move in a slow moving down trend since the Corona reaction. 

After quite sometime of leaving this pair alone (I like trading this one but I haven't had too many opportunities lately) it began to breakout of a channel to the upside. 

This confirmed with wave counting and analyzing volume to confirm the foot print of Smart Money stepping in just before the big breakout.

I always use Point and Figure to determine my entries and profit targets and in the image below, you can see the first target has been hit with possibly more to follow.

The key in using Point and Figure is setting up your charts correct to get the entry and profit targets. You will also need to understand how to analyze the specific phases of consolidation to determine where Smart Money is stepping in. We then use the consolidation information from our Bar charts or Candlestick charts and transfer the data to the Point and Figure charts. 
(I have some videos for you to watch on how we do this step)

I don't recommend chasing a trade and jumping in at this point if you are not already in this trade. This isn't a trade call or recommendation. It is my trade and my trade idea and analysis of what I expect based on my trading system.

Coaching students in my trading course get updates and they get to see my trade ideas as soon as I post them. If you are not in the coaching program, please use this information as education only, do not execute a trade without more information and a better understanding of the principles and strategies behind the trade.

click on the image above to see an enlarged version
If you are still guessing when you should enter a trade, if you are still guessing about how long you should hold onto the trade and where you should take profits...
You Need To Watch This Video.

in this video I review the USD/JPY daily time frame.

You can apply this same strategy to and market and on any time frame.

The three pillars of my trading system are:
1.learn to read a chart without any indicators so you can track the behavior of "Smart Money" and trade with them, Not against them (learning how to do this means you will have fewer losing trades, you will make more money per trade and you don't have to guess anymore)

2.use volume to identify turning points and to see when "Smart Money" is about to make their big move.

3.use point and figure charts to enter a trade and calculate how far price is likely to move.
FREE Webinar.
on this webinar you will learn the 3 Pillars to my trading system that includes using Point and Figure charts to find precise entry points and take profit targets with NO Guessing!

Learn to read supply and demand on a chart without using any indicators other than volume and learn to spot and track the activity of "Smart Money" so you can trade with them, not against them.

This means you will make more money per trade and have fewer losing trades.

This system can be used for day trading, swing trading and investing.

Watch this video and let me know if you have any questions about the content.
(this video is about 1hour)
Learn How To Swing Trade Or Day Trade Any Market Using Wyckoff Theory, Point & Figure Chart Analysis And
Wave-Volume-Range Analysis
Schedule a call to talk to me to see if my coaching program is right for you...
Trading Videos

About: Joseph Fibonacci

Joseph has just over 20 years full time trading experience. He teaches new and novice traders how to trade using the "3 Pillars of Old School Trading" and the trading lessons focus on Wyckoff principles, Point & Figure trading, Wave Volume Range Analysis and Supply & Demand methodologies.
Joseph began coaching and teaching his strategies in 2007.
We discuss and teach how to trade all markets from Forex, Crypto, Stocks, Indices, Commodities and more... These principles and strategies work for ay trader from day trading, swing trading to investing.
Latest Blog Post
ENROLLMENT IS OPEN
  • Online Trading Course and Coaching - learn how to trade any market with my 20 year proven trading system  (click here now)
Share Us on Social Media