I got into the trade at 1.11407 AFTER seeing price action occur. This PA was an early predictor of a uptrend to come. Now that DOES NOT mean that prices still can't come back down and take out the lows. It can. Anything can happen. But we are in the game to take chances, right? No risk. No reward. But the trick is to to best manage that risk vs the potential reward. Buying at this point will allow me to keep a very tight stop loss on this trade should it go south and invalidate my wave count and reason for the trade.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
Year-to-date Profits: +5,794 pips.
USDJPY FULL Report (Subscription Required): http://bit.ly/2ttcCTV
This Month In Indexes newsletter: http://bit.ly/2tGqpcy
Want results like this? Join us: http://bit.ly/29x4bfM