USD/JPY H4 | Rising to 61.8% pullback support
Updated
USD/JPY is rising towards a pullback support and could potentially bounce off this level to fall lower.
Buy entry is at 149.180 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 149.915 which is a level that aligns with the 78.6% Fibonacci retracement level.
Take profit 1 is at 148.148 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level. Risk/Reward Ratio: 1 : 1.40
Take profit 2 is at 147.510 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level. Risk/Reward Ratio: 1 : 2.27
Total risk 1.28%
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Buy entry is at 149.180 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 149.915 which is a level that aligns with the 78.6% Fibonacci retracement level.
Take profit 1 is at 148.148 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level. Risk/Reward Ratio: 1 : 1.40
Take profit 2 is at 147.510 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level. Risk/Reward Ratio: 1 : 2.27
Total risk 1.28%
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Comment
I just notice i mislabeled the entry as a Buy entry.Trade closed: stop reached
Stop Loss Reached. Lifetime Win Ratio for this account now at 57.58%.
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