U.S. Dollar / Japanese YenUpdated UJ continue to be short, but looking at 108.75 for long
although 110 could be tough nut to crack, there is an ab-cd move completion at 108.75 area, as well as a daily MA in the region (currently at 108.48) and the 50% retracement from the last long leg up from 100 level to 118.5
placing buy order with stops under the aforementioned MA
placing buy order with stops under the aforementioned MA
Note
there is also a channel bottom - so a confluence of 4 'indicators' if you will to support this trade idea.
good luck
appreciate the feebback
Trade active
TP on my short was hit, and now longNote
partially TP with 300pips in the bag on the long.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.