H1 USDJPY Possible Breakout
Updated
I have identified the areas of buy and sell. Price moves from supply to demand and demand to supply, price is now in the middle of the two areas and forms an Ascending Triangle.
Riding with the uptrend that was just established, I am in favor to long this pair all the way up to the Sell Area 109.13-109.40. For those who are more aggressive, you can flip your trade at the Sell Area to close your Longs and take a Short position from there, knowing that you are trading against the trend, do look for small targets and not hold the trade for too long.
Possible Trade Plan:
Entry: Now (108.35)
SL: 108.01
TP1: 108.80
TP2: 109.09
Do like and share this post. I use a combination of trading strategies such as Supply & Demand ( SND ), Harmonics Patterns, Multiple Time Frame Analysis , Candlestick Analysis to name a few. Follow me if my trading style suits you as I will be posting new trade ideas and analysis regularly.
Riding with the uptrend that was just established, I am in favor to long this pair all the way up to the Sell Area 109.13-109.40. For those who are more aggressive, you can flip your trade at the Sell Area to close your Longs and take a Short position from there, knowing that you are trading against the trend, do look for small targets and not hold the trade for too long.
Possible Trade Plan:
Entry: Now (108.35)
SL: 108.01
TP1: 108.80
TP2: 109.09
Do like and share this post. I use a combination of trading strategies such as Supply & Demand ( SND ), Harmonics Patterns, Multiple Time Frame Analysis , Candlestick Analysis to name a few. Follow me if my trading style suits you as I will be posting new trade ideas and analysis regularly.
Trade closed: stop reached
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