FRESH DEMAND ZONE FOR USDJPY WITH IMBALANCE PRICE ACTION

19 Mar 2017

Focus on fresh demand zone for USDJPY, H4. There is significant movement of price action and the Demand zone is valid for trade Long. My point of view, the best point to take Long is at the Decision Point of that Demand Zone. However, there is also a Quasimodo Long Pattern just below the Decision Point at the Blue Line. So, to exit the trade, I use Fibonacci Golden Ratio (38.2, 50.0, 61.8).