USDJPY - Short Trade Idea
This is a short trade idea on the USDJPY pair.
Recently, we traded into a 4M and 11M BISI, had a nice reaction to a Premium Array, now we had a breakdown again. Because of the Japanese Central Bank's decision to increase interest rates, I am expecting price to take a further nose dive. I have 2 targets based on my profit-taking criteria. 1st is the swing low as a Discount Array, and 2nd/final target is a 2D BISI below some relative equal lows.
Depending on where price closes today, I would be anticipating price to trade back up into a 2D iFVG that was a previous R2F signature BISI on the 2D timeframe. Safest stoploss before invalidating the trade is at the swing high before the sudden dump at Japan election news.
Let's see!
- R2F
Recently, we traded into a 4M and 11M BISI, had a nice reaction to a Premium Array, now we had a breakdown again. Because of the Japanese Central Bank's decision to increase interest rates, I am expecting price to take a further nose dive. I have 2 targets based on my profit-taking criteria. 1st is the swing low as a Discount Array, and 2nd/final target is a 2D BISI below some relative equal lows.
Depending on where price closes today, I would be anticipating price to trade back up into a 2D iFVG that was a previous R2F signature BISI on the 2D timeframe. Safest stoploss before invalidating the trade is at the swing high before the sudden dump at Japan election news.
Let's see!
- R2F
Note
The 2D candle closed way above the potential iFVG, so this trade is invalidated. We may be trading a decent amount higher into weekly/monthly SIBIS.
R2F Trading
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Private Coaching Available
road2fundedtrading.com
Telegram: @Road2Funded
Discord: @pippilongshorting
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
R2F Trading
Private Coaching Available
road2fundedtrading.com
Telegram: @Road2Funded
Discord: @pippilongshorting
Private Coaching Available
road2fundedtrading.com
Telegram: @Road2Funded
Discord: @pippilongshorting
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.