USDJPY Short
As we can see, USDJPY formed a rising channel pattern on a 4hr time frame, it is also called as Bullish Channel pattern. It comprises of two lines parallel to each other with points shaping higher highs and higher lows.
There was a breakout which was followed by a retest on the lower trend line, This indicates a change in direction and displays that the uptrend is over and bears have taken over bulls.
Those with smaller accounts might have to wait for the market to retest the new support Level before placing trades.
Please use proper risk management depending on your account size, Use lot sizes based on these calculations.
Here is a break down of your pip value in ZAR and Dollars
0, 01 = R1,43 / $0,10c
0. 05 = R 7,15 / $ 0.50
0.10 = R 14,3 / $1.00
1 Lot size = R 14,26
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There was a breakout which was followed by a retest on the lower trend line, This indicates a change in direction and displays that the uptrend is over and bears have taken over bulls.
Those with smaller accounts might have to wait for the market to retest the new support Level before placing trades.
Please use proper risk management depending on your account size, Use lot sizes based on these calculations.
Here is a break down of your pip value in ZAR and Dollars
0, 01 = R1,43 / $0,10c
0. 05 = R 7,15 / $ 0.50
0.10 = R 14,3 / $1.00
1 Lot size = R 14,26
Please like and share for more useful content:
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