Hey Traders hope everyone has a good start of the week,
we are starting strong over here with a long trade on USDJPY. Pulling out our Fibonacci from the last low to the high we see price clearly bouncing back from the 0.61 key level. This is the level where we enter with a very low risk, because there is no level behind this. Another reason is that we are looking at a real longterm uptrend and price retraced the 2rd time (mentioned in the two blue boxes) at this point. First take profit for this trade will be the last high at 113.200 and another one even higher at 114.500.
Lets start this week strong.
we are starting strong over here with a long trade on USDJPY. Pulling out our Fibonacci from the last low to the high we see price clearly bouncing back from the 0.61 key level. This is the level where we enter with a very low risk, because there is no level behind this. Another reason is that we are looking at a real longterm uptrend and price retraced the 2rd time (mentioned in the two blue boxes) at this point. First take profit for this trade will be the last high at 113.200 and another one even higher at 114.500.
Lets start this week strong.
Trade active
Holding this long.Note
Price comes near take profit.Trade closed manually
Just closed the trade with good profits.
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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.
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.