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Long

UPDATE #2: TRADE: USDJPY: BUY@120.460 Catching A Wave 3 Up? +159

FX:USDJPY   U.S. Dollar / Japanese Yen
816 3 19
On this trade I posted 7 days ago, has now reached what was originally my TP1 in that post. Combined, this trade has bagged +159 pips taking 50% at the TP1 and now taking more profit at the current TP2 on the above chart.

Here's the chart of the original trade post:

So now that prices have reached my TP levels, what now? At the present, there is a POTENTIAL cypher that has formed pointing prices lower in what I think is only a retrace before prices continue higher. However, that isn't guaranteed!

So that is why I am closing 50% of the remaining LONG positions I have left on this trade and pocketing the profits. I'll look to find another good entry point as prices possibly retrace but if it does not and just continues higher, I'll be letting the remaining 25% of the original trade ride higher.

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*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Wave 3. Pretty strong
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how do you think usdcad now? still short ?
Reply
Yes, still short until stopped out. Which still has not happened yet.
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