Long

USDJPY long idea

Updated

Hello everyone, i will be posting here my ideas, so i can keep track of them.
Why i dont publish in private? Because i am open to any suggestion, so if anyone wants to tell me something about the idea i published, i will be glad to read what he or she has to tell me !

In this case i am posting the pair usdjpy, which seems to be on a corrective structure. On the 1H chart there is a clear impulse up (arrow) followed by a correction, so buying when the trendline is broken should be a good idea.
I will stop looking for buy setups when price goes below previous low of the impulse up.

Note

Here is the 4H view. I am choosing to label the correction with X's just to simplify the idea.

Order cancelled

Setup no longer valid.

Note

Because of the recent price action, the previous setup is no longer valid, instead we have this one, supporting the same general idea of going up for another corrective move, or even, at the best scenario, breaking up this corrective structure and going for another impulse. In any case, if we see a clear sign of a move up, i'll keep my stop close, and at the first given possibility, move to break even, waiting for the best. For the moment i am keeping the same trendline of the previous idea to tell me when there is a possible move up..
Thank you again for reading.

Note

Finally i've take a long position on this pair, at 121.4 and stop just under the low.. lets see how it goes

Trade closed: stop reached

Stopped out, i might have enmtered too early ,and it could still go up....

Akkard

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