USDJPY Fibo Open Short - Attractive Risk Reward!
This idea was first posted on Dec 16 but was hidden as I unknowingly violated one of TV's house rules and the idea was hidden. Reposting for everyone's reference as the risk reward is getting more attractive!
Having cleared the 1.618 fibo level in the previous midterm bull trend, USDJPY have taken a dip and retracement above 61.8%. Targeting 1st target profit at 107.6 after crossing the fibo 1.618 level.
With stop loss at last high of 109.74, Risk / Reward ranging from 4.5 - 7X depending on entry level.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Having cleared the 1.618 fibo level in the previous midterm bull trend, USDJPY have taken a dip and retracement above 61.8%. Targeting 1st target profit at 107.6 after crossing the fibo 1.618 level.
With stop loss at last high of 109.74, Risk / Reward ranging from 4.5 - 7X depending on entry level.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Trade active:
Breakdown from weekly low. Likely to keep moving towards 108 before any support seen. 1.618 tgt of 107.60 on track.
Trade closed: stop reached:
Broke through 109.74 and stopped out