USDJPY – Proposed long - the week of 23 May, 2022
I am hoping to get the opportunity to take a long at 127.16.
My reasons/checklist are as follows:
Current structure – Consolidation/Ranging (2 touches on both extremities)
Long term trend (daily chart) – Bullish
Preceding trend (on H4) – Bullish
Relationship of price to 200dma – above (bullish)
Potential R/R – 2.5R or more
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management and stay patient in all your trades.
My reasons/checklist are as follows:
Current structure – Consolidation/Ranging (2 touches on both extremities)
Long term trend (daily chart) – Bullish
Preceding trend (on H4) – Bullish
Relationship of price to 200dma – above (bullish)
Potential R/R – 2.5R or more
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management and stay patient in all your trades.
Trade active:
Price has been meandering around - total lack of direction at the end of the week. My trade is still open.