UJ started the trading week under a support level during the Sunday evening session.
We saw an impulse move to the short side last week breaking below support between 104.208 and 104.146 and finding a bottom at 103.700.
My initial bias was short when price held 104.208 and 104.146 which also lined up with a 50% fib level.
Coming into Monday's trading session, we've seen that 104.146 S&R zone violated with price respecting an upward trendline.
Now my bias is long trading up to 104.700
We saw an impulse move to the short side last week breaking below support between 104.208 and 104.146 and finding a bottom at 103.700.
My initial bias was short when price held 104.208 and 104.146 which also lined up with a 50% fib level.
Coming into Monday's trading session, we've seen that 104.146 S&R zone violated with price respecting an upward trendline.
Now my bias is long trading up to 104.700
Trade active:
I've entered into this trade with a very small risk.
Entry at 104.246
12 pip SL and 43 pip TP
Projected RR 3.58
Entry at 104.246
12 pip SL and 43 pip TP
Projected RR 3.58
Trade closed: stop reached:
UJ Has stopped us out for a small loss.
Possible long from this area could prove to be profitable.