Hi Traders, I'm here to help improving your trading skills with my ideas to see the market from sombody else's mind.
The direction is confirmed; this pair moving down strongly. The purple triangle is a consolidation area. If the price breaks downward, AND CLOSE UNDER IT, we can search for short entries. I will post update, and future ideas if I open a trade, or when the price confirmed the end of the consolidation. This post is about to watch this pair, because it can be really profitable.
The key of this trade is to wait for the confirmation, than act like the market shows to act.
Let's be successful together. Follow me for new ideas, I'll appreciate your follows. Have a great day ahead, Benjamin
Hi Benjamin. Thanks for your idea on the USDJPY. Any idea for a target?
Sparksoffly
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@Forexphantom, Hi, thank for your question:) I recommend a (safe) target 105.000, but personally in this trade I will use manual trailing stop, and put it lower and lower till the end of the trend. I will update my idea when I open and when I cloe my trade.
LineTradingPilots
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@Sparksoffly, great thank you. If you could also elaborate then how you manage your trailing stop. Would be interesting to see. Thanks again!
Sparksoffly
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@Forexphantom, I will post how I manage my stoploss. Cheers;)