Approach towards USDJPY Long.
Updated
Hello Traders!
It's a simple trade today. Very basic. Sometimes we tend to complicate the market when all it needs is simplification.
1. Falling wedge pattern with trend respected.
2. A comfirmation in 30 min tf (W pattern) and 2hr tf ( indecision candle and then a bullish reversal candle).
3. But still, as a precautionary measure, we'll wait for the the current high to be broken. Better safe than sorry!
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
It's a simple trade today. Very basic. Sometimes we tend to complicate the market when all it needs is simplification.
1. Falling wedge pattern with trend respected.
2. A comfirmation in 30 min tf (W pattern) and 2hr tf ( indecision candle and then a bullish reversal candle).
3. But still, as a precautionary measure, we'll wait for the the current high to be broken. Better safe than sorry!
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Note
The entry is yet to be. The market has not broken the high of the zone. We'll wait for a confirmation in the coming week.Note
The entry point has been shifted to 128.350 and protective stop to 127.000. Do take buffer. Different brokers prices can be slightly different.Note
We have a morning star formation in the 1hr tf. We enter on the break of the high.Trade active
Note
1st Target hit! 6RR achieved!
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