USDJPY CORRECTION TRADE
I prefer to trade with the trend.. but when the higher time frame is correction or making a retracement to create new liquidity, those can be some really great trades. it can take time to complete the full retracement trade, but it still can provide a decent risk to reward. we have a nice impulsive move that broke strong support. there were a few fair value gaps left behind which would need to be filled, and if we can get price to close back above into that 25% fibb area, we can see a nice trade with two targets at 50% and 75% fibb level. not looking to swing this trade past that area as that is the main area for our sells and price is in a current downtrend.
Trade closed: target reached
1st main target has been reached. can hold for the remaining pips but this is a winner we are up about 154 pips.. great trade. never let a winner turn into a loser 
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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.