USDJPY : Prices must stay atop the support level.
USDJPY
So far , price is holding firm at the 108.50 support level , although 108.50 is a near-term support and is not a very important long-term key level but we do have some confluence behind this trade as the tailed bar formed was from the 108.50 near-term support level with price rejecting the lower prices and also rejecting the 150exp on the daily and closing above the 150exp dynamic support level. Absolute stop placement was available in this one.
Prices must stay atop the 108.50 near-term support level in order to activate another leg higher till at least 109.00 OR else , a confirm break and close under the 108.50 near-term support will possibly take our Stops and will nullify the whole buying idea.
So always! Money management is the key. Even the best setup can fail in the markets , so please traders! Manage risk properly as you only need a certain win rate in order to close the year profitable.
We asked to buy this asset yesterday!!
So far , price is holding firm at the 108.50 support level , although 108.50 is a near-term support and is not a very important long-term key level but we do have some confluence behind this trade as the tailed bar formed was from the 108.50 near-term support level with price rejecting the lower prices and also rejecting the 150exp on the daily and closing above the 150exp dynamic support level. Absolute stop placement was available in this one.
Prices must stay atop the 108.50 near-term support level in order to activate another leg higher till at least 109.00 OR else , a confirm break and close under the 108.50 near-term support will possibly take our Stops and will nullify the whole buying idea.
So always! Money management is the key. Even the best setup can fail in the markets , so please traders! Manage risk properly as you only need a certain win rate in order to close the year profitable.
We asked to buy this asset yesterday!!
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.