Long USDJPY – false breakout trade?
As Market likes to trick people and after the break of 117.25-117.40 the only logical direction would be down, there might be the last trick to get the final weak shorts out before the final down move in the second half of the weak
Similar to my EURJPY idea, I try a false breakout trade
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I did place a a limit buy order at 117.05, Risk-Reward = 5.0
SL@ 116.8 (-25), TP@ 118.30 (+125)
When SL is triggered, the brave ones, might short with TP at 116.10, but I believe there is one more move up to let the break-out traders suffer
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Similar to my EURJPY idea, I try a false breakout trade
_______________________________
I did place a a limit buy order at 117.05, Risk-Reward = 5.0
SL@ 116.8 (-25), TP@ 118.30 (+125)
When SL is triggered, the brave ones, might short with TP at 116.10, but I believe there is one more move up to let the break-out traders suffer
_______________________________________________
Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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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.
Related publications
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.