USDJPY opportunity!
Updated
Trade Description for USDJPY:
1. **Title**: USDJPY Long Trade Opportunity
2. **Symbol and Timeframe**: USDJPY, 15 min timeframe
3. **Overview**: The USDJPY pair has recently experienced a 50% retracement in the 2-hour, 4-hour and 15 min timeframe, indicating a potential buying opportunity.
4. **Chart Analysis**: On the 2-hour, 4-hour and 15 min charts, the price has retraced to the 50% Fibonacci level, suggesting a potential reversal and resumption of the uptrend.
5. **Entry**: Consider entering a long position on USDJPY at the current price, as it has completed a 50% retracement and shows signs of upward momentum.
6. **Stop Loss**: Set the stop loss at the latest low, as a break below that level would invalidate the trade idea and suggest further downward movement.
7. **Take Profit**: Aim for a target level based on your preferred risk-reward ratio and the recent swing high. Monitor the price action for signs of resistance that may indicate a potential exit point.
8. **Risk-Reward Ratio**: Calculate and assess the risk-reward ratio based on the distance between the entry point and the stop loss, as well as the potential profit target. Adjust your position size accordingly to ensure a favourable risk-reward ratio.
9. **Additional Notes**: Keep an eye on any upcoming news or events that may impact the USDJPY pair. Monitor the price action on the 4-hour timeframe as well, as it has shown multiple stop-loss hits during the downtrend.
**Disclaimer**: This trade analysis is for educational and informational purposes only. It does not constitute financial advice. Remember to conduct your own analysis and make independent trading decisions.
1. **Title**: USDJPY Long Trade Opportunity
2. **Symbol and Timeframe**: USDJPY, 15 min timeframe
3. **Overview**: The USDJPY pair has recently experienced a 50% retracement in the 2-hour, 4-hour and 15 min timeframe, indicating a potential buying opportunity.
4. **Chart Analysis**: On the 2-hour, 4-hour and 15 min charts, the price has retraced to the 50% Fibonacci level, suggesting a potential reversal and resumption of the uptrend.
5. **Entry**: Consider entering a long position on USDJPY at the current price, as it has completed a 50% retracement and shows signs of upward momentum.
6. **Stop Loss**: Set the stop loss at the latest low, as a break below that level would invalidate the trade idea and suggest further downward movement.
7. **Take Profit**: Aim for a target level based on your preferred risk-reward ratio and the recent swing high. Monitor the price action for signs of resistance that may indicate a potential exit point.
8. **Risk-Reward Ratio**: Calculate and assess the risk-reward ratio based on the distance between the entry point and the stop loss, as well as the potential profit target. Adjust your position size accordingly to ensure a favourable risk-reward ratio.
9. **Additional Notes**: Keep an eye on any upcoming news or events that may impact the USDJPY pair. Monitor the price action on the 4-hour timeframe as well, as it has shown multiple stop-loss hits during the downtrend.
**Disclaimer**: This trade analysis is for educational and informational purposes only. It does not constitute financial advice. Remember to conduct your own analysis and make independent trading decisions.
Note
There is a resistance zone at 139.700🥲Note
Already up by 50%- closing half quantity booking some profitsNote
Trailing restTrade closed: stop reached
Trailing stop-loss hit trade closed in profit
Disclaimer
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