USDJPY Long
Updated
USDJPY L Trade Ideas
ALOHA Traders!
The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. USDJPY L (not in this position)
D - After a double bottom on the lower trend line of a range, price spiked up and has room to breath. A long term hold for the bull-run to the upside could take months (the market does not move perfectly).
4HR - Bullish momentum and broken above 50 EMA, now price is just correcting before continuing upward.
1 HR - A correction occurring at the top of a Rising Wedge. Price is at a key area where price can squeeze to the upside, or reverse into the downside to near 104.00
15Min - Similar to 1HR note. Squeezing and will move soon.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 36 pips.
Target: top of range @ 106 level.
ALOHA Traders!
The market is showing some nice setups to end the month of SEP brining in some nice momentum going into OCT and beyond. Here is one of my ideas of what I’m thinking price can do.
1. USDJPY L (not in this position)
D - After a double bottom on the lower trend line of a range, price spiked up and has room to breath. A long term hold for the bull-run to the upside could take months (the market does not move perfectly).
4HR - Bullish momentum and broken above 50 EMA, now price is just correcting before continuing upward.
1 HR - A correction occurring at the top of a Rising Wedge. Price is at a key area where price can squeeze to the upside, or reverse into the downside to near 104.00
15Min - Similar to 1HR note. Squeezing and will move soon.
As always, price can absolutely do some crazy, whip shaw shenanigans and nothing is ever a guarantee in the market until it actually happens.
SL set at 36 pips.
Target: top of range @ 106 level.
Trade closed: stop reached
Trade closed for a -1%
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