USDJPY 60min Bullish TCT
USDJPY is coming off of a Major Support Level. I'm looking to buy a pullback in anticipation of the market correction.
It has broken and closed above previous resistance and if it can pullback into my reversal area I will look to enter long. I will have to enter long at or below the Purple Line which represents a 1 to 1 Risk to Reward.
Stops - 1 ATR Below the Reversal Zone
Target #1 - Retest of Highs
Target #2 - 1.27% Fib Extension plus Structure (Previous Resistance). Once could also look to Target the completions of the ABCD Pattern for Target #2's
It has broken and closed above previous resistance and if it can pullback into my reversal area I will look to enter long. I will have to enter long at or below the Purple Line which represents a 1 to 1 Risk to Reward.
Stops - 1 ATR Below the Reversal Zone
Target #1 - Retest of Highs
Target #2 - 1.27% Fib Extension plus Structure (Previous Resistance). Once could also look to Target the completions of the ABCD Pattern for Target #2's
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.