Approach towards USDJPY Long.
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.
Comment:
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.
Comment:
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.
Comment:
We have a morning star formation in the 1hr tf. We enter on the break of the high.
Trade active
Comment:
1st Target hit! 6RR achieved!