On daily timeframe USDJPY is in a bullish trend and has hit the Strong daily trend Resistance line from where it has reversed.
On the Hourly Timeframe the strong bullish trend formed and the trend is now broken making by making a new LH as opposed to a HL.
I am predicting the price will continue to fall from here to the Daily Support level.
However, in order to keep the trade safe, I am trading on Hourly with TP on the Fib Level 0.66
On the Hourly Timeframe the strong bullish trend formed and the trend is now broken making by making a new LH as opposed to a HL.
I am predicting the price will continue to fall from here to the Daily Support level.
However, in order to keep the trade safe, I am trading on Hourly with TP on the Fib Level 0.66
Note
This is playing out well for now. Hope it hits the TPNote
This trade was also closed in profit as per the analysis. The SL wasn't hit, and the wick hit the TP.
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.
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.