DOLLAR YEN CHANGE OF TREND @ TOP OF THE RANGE FOR GREAT R:R!
Not much to do with this trade. Have been tracking when risk on would take profit and with SP topping near ATH's
and with FED hinting less rate cuts than expected I am ready to sell.
The 3 Slopes I Marked have been broken by the big red candle forming the lower LOW and breaking the 21 ema.
Not much else to do with this trade. I fib'd the move and the support now resistance marks exactly where I will
enter which is in the crucial 50- 618 fib zone. Putting stops above the high for an INCREDIBLE risk reward trade
Aiming TP1 at 106.70 area. Will watch for more trade war risk or brexit risk if I should stay longer.
Happy Hunting Happy Trapping
This should be an easy one..... hopefully :)
BooBii
Uj
USDJPYW- Four weeks of consolidation zone broken, fifth-week candle closed above all the previous wicks.
D- Bearish structure broken, new higher low and higher high have been formed. ( would it retest 38.20%?)
4h- 38.20% fib re-test.
First TP : 107.664
Second TP : 108.187
Over all TP : 109.826 (300 pips)
Clear Breakout Trade Plan On UJHello Traders
Back with another tactical trade plan
Today we take a closer look at USDJPY that has just broke out from an uptrend momentum.
The overall trend is still bearish even though previous upside impulses had some impact but didn't change the overall sentiment.
Here my entry point is based on the retracement on the break out point.
If there is further spill this trade idea will be rejected so further downside without any retracement whatsoever is also a possibility .
We are expecting things to play out in the exact same way as the trend lines and arrow projections indicate otherwise the trade plan will be cancelled.
Traded safe trade well