USDJPY looks to be lining up one of our favorite playbook setups (BOBBI) by faking the break up before potentially swinging lower for a short term reversal. If the odds are in our favor we should at least bag us twice our risk, and maybe not much more, as the big picture suggest presence of a bullish trend
Probability of success 50%
Probability of success 50%
Trade closed: stop reached
Fair enough, in hindsight we should want to see a quick 2 candle reversal breaking out and then breaking back in for our BOBBI setup (this one took 3) and this area could have easily been used for an excellent Break & Retest buy setup on the candle after this entry
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Related publications
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.