USDJPY Short Pullback Trade
USDJPY Short Pullback Trade
Price broke out from zone where I was looking for entry on retracement to anticipate in down trend on HTF.
Stop Loss below the recent low: 144.485
Take Profit: 142.232
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for USDJPY today*
Price broke out from zone where I was looking for entry on retracement to anticipate in down trend on HTF.
Stop Loss below the recent low: 144.485
Take Profit: 142.232
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for USDJPY today*
Trade closed manually
Closed manually at -133.76$ because price return to pullback area with strong momentum in the opposite direction.
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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.