Gooooood morning traders! Hope you're all having a beautiful start to the week because our dear friend USDJPY definitely is.
After making an extended cycle upwards, price has hit our D1 Bearish Orderblock and created an M30 BMS structure allowing us to look for a high probability short position.
I've set two pending orders at these price levels with a stop just slightly above the shift candle. I'm looking to trade price back down to the D1 Propulsion Block; however, along the way I'll be taking some partial profits.
As the trade matures and progresses I'll inform you all of the places where I'm looking to slowly scale out of my position.
Although the D1 Propulsion Block is my final TP for this trade, I can see price potentially trading even lower down to 105.640
Happy Trading everyone. Remember that this is my personal trade idea, take the trade if you wish at your own risk. Please manage it well, I would personally advise no more than 1-3% of your total account equity. Hitting a trade of this caliber with 1% risk will yield 15-20% in profit, so you can trade small and still grow your account extremely well over time.
Best Wishes,
-AmplaFX
After making an extended cycle upwards, price has hit our D1 Bearish Orderblock and created an M30 BMS structure allowing us to look for a high probability short position.
I've set two pending orders at these price levels with a stop just slightly above the shift candle. I'm looking to trade price back down to the D1 Propulsion Block; however, along the way I'll be taking some partial profits.
As the trade matures and progresses I'll inform you all of the places where I'm looking to slowly scale out of my position.
Although the D1 Propulsion Block is my final TP for this trade, I can see price potentially trading even lower down to 105.640
Happy Trading everyone. Remember that this is my personal trade idea, take the trade if you wish at your own risk. Please manage it well, I would personally advise no more than 1-3% of your total account equity. Hitting a trade of this caliber with 1% risk will yield 15-20% in profit, so you can trade small and still grow your account extremely well over time.
Best Wishes,
-AmplaFX
Trade closed manually:
Hey guys,
I've taken some partial profits & moved stop loss to breakeven.
Price isn't breaking the H4 Bullish OB, so it appears price may continue upwards!
I've taken some partial profits & moved stop loss to breakeven.
Price isn't breaking the H4 Bullish OB, so it appears price may continue upwards!
