USDJPY profit target reached perfectly, prepare to sell
Sell below 112.70. Stop loss at 113.41. Take profit at 110.98.
Reason for the trading strategy (technically):
Price has reached our profit target from previously. We look to sell below major resistance at 112.70 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a strong drop from.
Reason for the trading strategy (technically):
Price has reached our profit target from previously. We look to sell below major resistance at 112.70 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a strong drop from.
Comment:
Did we freaking kick ass on this trade or what guys?!
Trade closed manually:
I think it'll be good to close 60% position and move the rest to breakeven :)
Comment:
reason being, it is never good to hold a trade over the weekend after NFP. Personal opinion of course haha.