USD/JPY TWO POSSIBLE TRADES|
Updated
Hello friends,
The pair floats in indecision in the purple area, in the intersection of the diagonal and horizontal support lines.
So long as there is no breakout further below, one might go on a speculative long, with a narrow SL, hoping to catch a quick move up(0.5% of deposit)
If there is a breakout below, then wait for the retracement, and go short. A narrow stop too. Both trades offer great risk reward, yet the short comes with the confirmation. Therefore it can be traded with 1-1.5% of deposit.
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Note
The long impulse was harvested.Now the breakout down is confirmed.
Wait for the pullback and short!
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