USDJPY Soaring higher
This is the perfect time to update my chart after coming off of a USDJPY winner.
Price is in an uptrend. Notice how the exchange rates are increasing at each high and low. No trend lines or support and resistance are needed to identify trends but if thats your thing go for it!
So to get back into the trade I'm setting a buy limit order.
A buy limit is a pending order set above the buy price that will be triggered in automatically.
Why I'm setting a limit order?
Simple, I don't know if I'll be at my computer to input the trade in manually and i find setting limit orders help me take the emotions out of my trade.
If I'm stopped out I'm ok because I always place my stop and have parameters that tell me what to do next.
I don't know who today's candle will close and if I'll be triggered into the trade, but at least it's setup, right?
Do you trade this pair? Are you setup for the next trade?
Price is in an uptrend. Notice how the exchange rates are increasing at each high and low. No trend lines or support and resistance are needed to identify trends but if thats your thing go for it!
So to get back into the trade I'm setting a buy limit order.
A buy limit is a pending order set above the buy price that will be triggered in automatically.
Why I'm setting a limit order?
Simple, I don't know if I'll be at my computer to input the trade in manually and i find setting limit orders help me take the emotions out of my trade.
If I'm stopped out I'm ok because I always place my stop and have parameters that tell me what to do next.
I don't know who today's candle will close and if I'll be triggered into the trade, but at least it's setup, right?
Do you trade this pair? Are you setup for the next trade?
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