USDJPY - Trend Following Short
having the upcoming resistance,
we will short half way down after weakness or signs of reversal (1st target)
and trace further down if the weakness is continuing (2nd target).
This is a straight, plain, simple and stupid trend following technique.
From higher trend to lower trend.
Stay put, keep calm.
we will short half way down after weakness or signs of reversal (1st target)
and trace further down if the weakness is continuing (2nd target).
This is a straight, plain, simple and stupid trend following technique.
From higher trend to lower trend.
Stay put, keep calm.
Note
Watch out for inside bars on higher timeframes!Note
Entry 110.90 due to signs of reversalTrade active
110.90 to 109.90 > 100 pips>> partially closed half position > return 1%
Note
If you have not partially closed the trade at target 1,you might consider moving your stop
either to 110.25 (just before buy/sell level of the minor trend)
or to 110.40 (top of the bar before the outside bar).
Note
Either taking profits at target 2 or trailing down considering inside/outside bars.Price might bounce, price might stall, price might fall.
Noone knows...
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.
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.