Hidden Bullish Divergence spotted on USDJPY H1 TF. Long position
A hidden bullish divergence has been spotted on USDJPY H1 TF as price made a HL and the RSI indicator made a LL.
Also, on the daily TF, we can see price is in an uptrend as price keep respecting the 100 day EMA. However, on the H4 TF, price has formed a double top which might indicate price shooting down, therefore we shall use a tight stop.
We will go long
entries can be made around 114.900 or lower, SL can be placed around 114.617.
For day traders, it is advised to place TP around 115.597 (RRR of 1:2.4)
For swing traders, it is advised to place TP around 115.748 (RRR of 1:3.0)
This is a risky trade but with high reward
Note: This is not a financial advice.
Also, on the daily TF, we can see price is in an uptrend as price keep respecting the 100 day EMA. However, on the H4 TF, price has formed a double top which might indicate price shooting down, therefore we shall use a tight stop.
We will go long
entries can be made around 114.900 or lower, SL can be placed around 114.617.
For day traders, it is advised to place TP around 115.597 (RRR of 1:2.4)
For swing traders, it is advised to place TP around 115.748 (RRR of 1:3.0)
This is a risky trade but with high reward
Note: This is not a financial advice.
Trade active:
Trade active
Trade closed: target reached:
our tp has been hit