Textbook false break reversal setup forming on USD/JPY. Daily inside bar at the upper bollinger band followed by a false break to the upside. Going to enter this trade on the close of the 7/19 candle, placing my stop a little above the high of that day, and my take profit down at the lower band.
These setups are slightly rare, but extremely powerful; they often result profits of between 7-10 times your risk. For reference, see the long setup on 7/8. Ended with a R:R of 7.35. Happy trading.
These setups are slightly rare, but extremely powerful; they often result profits of between 7-10 times your risk. For reference, see the long setup on 7/8. Ended with a R:R of 7.35. Happy trading.