This trade setup is based on the MONTHLY charts.
This is a SWING TRADE idea, assuming we reach the entry point.
I anticipate the JPY's will gain strength in early December.
Share your thoughts and ideas.
See below 👇 for more information.
The Professor
For this setup, I'm seeing a potential buy swing respecting 160.780 support level.
This a reversal type-trade setup, so it's a bit risky considering the recent H downtrend.
We'll have to see how next week opens though, as price could push a little further down.
Another successful clean trade setup. First TP smashed. I had set the same TP for both my entries but ended up seeing the possibilities of price going even lower. This new TP lines up exactly with our -27 fibbo retracement line (DM me to learn how to use the Fibbo the easiest way). Another entry should have been opened upon price retesting the violated channel's...
Consistency is key if you want to grow. Follow your rules. Even if it so happens you get stopped out, it will be easier when you followed you rules. I dont focus on the money. I focus on two things: my risk/reward ratio (1:3 and above) and the number pips.
*Disclaimer*
This is not financial advise. Forex Trading is a risky business. Trade at your own risk....
I believe we have a pattern for a cup and handle.
aftter a pullback at 61.8 price manage to breakout 149.473 level on 20 Aug
targeting 145.7
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
Like and subscribe and happy trading to all
