USDJPY LONG, BUT WHY?
USDJPY LONG, BUT WHY?
Reason:
HTF - Daily, reached a solid support and resistance level. We didn't quite get a 3 bar reversal, not helpful due to the overnight trading sessions (UK TIME)
We have pulled back into my trigger zone, my rules confirm a bullish trend has formed on the 240 chart
We have a higher high higher close on the 60
This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower
RIS was oversold on thr 60 in the previous support zone
Entry:
Market order
Stops:
1 ATR below the low of the outside return
Giving us a nice risk reward of 1.7 when target 2 is hit
Targets:
Target 1: 1:1 Risk reward
Target 2: H4 Highest candle close
Target 3: Trail based on structure if we continue higher
As always good luck in the markets,
TradeEasy.
Reason:
HTF - Daily, reached a solid support and resistance level. We didn't quite get a 3 bar reversal, not helpful due to the overnight trading sessions (UK TIME)
We have pulled back into my trigger zone, my rules confirm a bullish trend has formed on the 240 chart
We have a higher high higher close on the 60
This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower
RIS was oversold on thr 60 in the previous support zone
Entry:
Market order
Stops:
1 ATR below the low of the outside return
Giving us a nice risk reward of 1.7 when target 2 is hit
Targets:
Target 1: 1:1 Risk reward
Target 2: H4 Highest candle close
Target 3: Trail based on structure if we continue higher
As always good luck in the markets,
TradeEasy.
Trade closed: target reached
target 1 was reached, we were then taken out for break even
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.