Breakout Patterns PremiumClosed TradesCurrenciesCurrencies PremiumFX MAJORS Trade Ideas PremiumIndicators Trading PremiumPremiumTalking ChartsTrade Setups

USDJPY Resistance Test and Possible Short Opportunity

Trade Reached the first target: 60 pips

USDJPY Resistance Test and Possible Short Opportunity

USDJPY failed to break above the resistance.

Bullish Butterfly at 104.700 and BulishCrab At 104.170

Short And Long Trade Opportunity:

TRADE: SHORT

ENTRY: MARKET PRICE 106.14

STOP: 106.960

TARGET 1: 105.520

TARGET2: 104.750

LONG TRADE WILL BE PUBLISHED LATER IF THE SHORT TRADE WORKS AS PREDICTED.

UPDATE: TRADE REACHED THE FIRST TARGET. WE CLOSE 50% OF THE POSITION AND MOVE STOP LOSS TO ENTRY. 60 PIPS SO FAR.

 

USDJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

Tags
Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close