Hi,
I am looking to sell USD/JPY -0.22% next week. Waiting for a good pullback (which looks like it has begun) towards the supply level from H1.
Once I enter this trade I will move stops to zero as soon as possible because the H4 trend that I am looking to trade does not look really good and as it comes to the bigger picture - I will be selling at daily support. However, I am not aiming for brand new lows. This might turn into a decent trade if I get the pullback towards the zone.
I am looking to sell USD/JPY -0.22% next week. Waiting for a good pullback (which looks like it has begun) towards the supply level from H1.
Once I enter this trade I will move stops to zero as soon as possible because the H4 trend that I am looking to trade does not look really good and as it comes to the bigger picture - I will be selling at daily support. However, I am not aiming for brand new lows. This might turn into a decent trade if I get the pullback towards the zone.
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I am in.
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First target around the demand level around 110.85
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Stops to zero.
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Stopped at BE.
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Post anaylsis on the exit:
Yesterday was a good day to short USD but JPY was also weak pair. Taking this into consideration the weakness of the trend, the poor performance after my entry and the support right below me I had to move stops to zero quickly. It turns out to be the right decision here.
Yesterday was a good day to short USD but JPY was also weak pair. Taking this into consideration the weakness of the trend, the poor performance after my entry and the support right below me I had to move stops to zero quickly. It turns out to be the right decision here.