1D:
Active trade. Sell @ 109.563 SL=110.75, TP=106.48
A close above 110.62 would invalidate this trade and could indicate a buy. Close above 112 would definitely indicate a bull bias.
FYI - lower charts (4h or lower) still have ST trend up. More conservative entry would be to wait till break of 109.30 and confirmation of move down. There is a possibility of USDJPY retesting trend line resistance. If that occurs, a better entry could present itself.
Active trade. Sell @ 109.563 SL=110.75, TP=106.48
A close above 110.62 would invalidate this trade and could indicate a buy. Close above 112 would definitely indicate a bull bias.
FYI - lower charts (4h or lower) still have ST trend up. More conservative entry would be to wait till break of 109.30 and confirmation of move down. There is a possibility of USDJPY retesting trend line resistance. If that occurs, a better entry could present itself.
Comment:
To clarify: At current price up to 110.55, I will consider opening another ST trade (versus adding to my LT position) following a reversal or bearish candle completion on 1H chart.
To clarify: At current price up to 110.55, I will consider opening another ST trade (versus adding to my LT position) following a reversal or bearish candle completion on 1H chart.
Comment:
Entered another ST short trade. Using profits already gain to make this a "free trade". If trade goes against me and SL is hit, the cumulative trade will still be slightly net positive.
Entered another ST short trade. Using profits already gain to make this a "free trade". If trade goes against me and SL is hit, the cumulative trade will still be slightly net positive.
Trade closed manually:
Closed trade. Cumulative net neutral trade.
Will reevaluate and wait for a better opportunity.
Will reevaluate and wait for a better opportunity.
The LT trade is still active, but i have adjusted my SL (see chart). With the SL adjustment, this trade will be profitable even if my SL is hit.
I will consider adding to my position if it pulls back ~110 after a reversal or bearish candle on 1hr chart. I would still consider this an aggressive entry point with a favorable R/R. I will also add at a more conservative entry which would be following Dn Trend confirmation on 1hr chart.