KVE
Long

USD/JPY: Wedge + divergence signalling possible long opportunity

FX:USDJPY   U.S. Dollar/Japanese Yen
284 0 11
I just added another long (see previous idea) and still have 1 more possible long to add.

If we get a new wave down inside the wedge I will try to get a lower entry somewhere around 105.50 to 105.00..., but only if I get more confirmation!!
If the wedge breaks up before that I will keep the current long positions and might add if the uptrend is confirmed.

SL can be tight below the recent low but I like some more room, imo it should at least be below 105 in case of a new down wave in the wedge and since personally I still have some slack I'm keeping it below 104 for now...

Keep in mind that below 105.50 we will have broken a former low though! Anyone should decide for themselves based on their own style, risk tolerance and money management!

The 2 setups on chart are there as examples only, one with the tighter SL, one with the wider SL, targets for both are the same:
1) minor S/R zone / down trendline around 107.50
2) major S/R zone around 111

LOW-RISK TRADERS: THE COMPLETED WEDGE BREAKOUT TRADE IS THE SAFER TRADE!

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