USDJPY: Trading to the spike base
Updated
See the above picture for Macro Analysis
Trade Setup:
-Trading to the spike base
-Double bottom pattern
Trade management:
-Will only be entering 1 trade with 1 TP
-Buy Limit placed @ 100.00
-Stop Loss @ 99.56
-Target Profit @ 101.065
A small note: I may be entering this trade a little early (reason for entering early is due to a more favourable R:R)
Once the blue trend line breaks that is a very good sign
Let's see how it goes.....
Note
Has not hit the buy limit as of yetConsidering a market entry
Order cancelled
New Buy Limit setaround the 100.18 - 100.20 mark
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