USDJPY 340PIP SHORT!
Updated
Hello traders, today we have ourselves a lovely 
USDJPY short.
This trade is currently within 10 pips of entry, I still believe there will be a head & shoulders formation however we may miss our entry on this trade by a minor amount of pips.
Confluences:
With this trade we have ourselves a lovely R:R (Risk:Reward) of 1:11.3! This is a insane ration and definitely not one to miss.
We have a 30 pip stop loss for our trade which is above the previous structure level.
I have set 2 Take profit zones for this trade,
The first profit taking area is at 180 pips at 109.13
Our second profit taking area is at 340 pips at 107.5
Please remember to like and follow for more ideas like this!
USDJPY short.This trade is currently within 10 pips of entry, I still believe there will be a head & shoulders formation however we may miss our entry on this trade by a minor amount of pips.
Confluences:
- Structure Level
- Head & Shoulders formation
- USD Weakness & JPY Strength creating resistance
With this trade we have ourselves a lovely R:R (Risk:Reward) of 1:11.3! This is a insane ration and definitely not one to miss.
We have a 30 pip stop loss for our trade which is above the previous structure level.
I have set 2 Take profit zones for this trade,
The first profit taking area is at 180 pips at 109.13
Our second profit taking area is at 340 pips at 107.5
Please remember to like and follow for more ideas like this!
Trade closed: stop reached
Stop loss hitWe have failed with our first scenario and scenario B is where double top is formed and then reversal. Reentry at 111.6
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