USDJPY LONG, BUT WHY?
Reason:
HTF - Daily, reached a solid support and resistance level. We didn't quite get a 3 bar reversal, not helpful due to the overnight trading sessions (UK TIME)
We have pulled back into my trigger zone, my rules confirm a bullish trend has formed on the 240 chart
We have a higher high higher close on the 60
This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower
RIS was oversold on thr 60 in the previous support zone
Entry:
Market order
Stops:
1 ATR below the low of the outside return
Giving us a nice risk reward of 1.7 when target 2 is hit
Targets:
Target 1: 1:1 Risk reward
Target 2: H4 Highest candle close
Target 3: Trail based on structure if we continue higher
As always good luck in the markets,
TradeEasy.
Reason:
HTF - Daily, reached a solid support and resistance level. We didn't quite get a 3 bar reversal, not helpful due to the overnight trading sessions (UK TIME)
We have pulled back into my trigger zone, my rules confirm a bullish trend has formed on the 240 chart
We have a higher high higher close on the 60
This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower
RIS was oversold on thr 60 in the previous support zone
Entry:
Market order
Stops:
1 ATR below the low of the outside return
Giving us a nice risk reward of 1.7 when target 2 is hit
Targets:
Target 1: 1:1 Risk reward
Target 2: H4 Highest candle close
Target 3: Trail based on structure if we continue higher
As always good luck in the markets,
TradeEasy.
Trade closed: target reached:
target 1 was reached, we were then taken out for break even