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!
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out