USDJPY - Measure Move Down

Apr 1, 2020

USDJPY Measure Move Down

• Measure move down starting at the top of the trend (first leg). Prior pennant inside movement.
  
• Corrective fase and we enter the trade as soon momentum bring movement downwards again.
  
• Second leg starts after correction fase. Lenght use to be almost 80% of the first one, so we project that measure down from the end of the correction phase and establish TP2.
  
• For TP1, we take 50% of the movement
  
• SL 50 pips above entry point, above a 4h doji.
  
• MA and EMA's confirm the downtrend.
  
• Primary trend is downtrend also. We trade with the mayor trend
  

Apr 2, 2020

Trade closed: stop reached

Apr 5, 2020

Note

Should have seen there was a prior support (pivot point) @107.122