USDJPY 4H - Potential bounce from support
Updated
The last closed candle suggests a possible rebound from the support area, highlighted by big green volume. RSI shows an oversold area and MACD is approaching a bullish cross. There was a gap which has a potential to be filled at some point, so I choose a risk reward of aproximately 2 for this trade. A bit risky trade due to the current downtrend, but the signals allow me to enter this trade.
Long entry: 109.702
TP: 110.959
SL: 109.107 (Stop can be even more tight than this one)
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Long entry: 109.702
TP: 110.959
SL: 109.107 (Stop can be even more tight than this one)
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Trade active
Trade closed: stop reached
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