fxstudent299
Long

Long EURJPY – false breakout trade?

FX:EURJPY   Euro / Japanese Yen
94 0 2
Trading idea on 1h chart:
Long EURPY – false breakout trade?

Last time there was a false breakout trade, which might repeat again

So I basically buy the last lower low after price falls below and comes back to that level and go for the last solid resistance, which is in the area 134.0-134.30
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I did place a a limit buy order at 132.35, Risk-Reward = 3.67
SL@ 131.9 (-45), TP@ 134.0 (+165)
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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