HEY GUYS, IT HAS BEEN A WHILE SINCE I TRADED SOME NICE ADVANCED PATTERN ON USD/JPY, AND LUCKILY I HAVE FOUND ONE COUPLE OF DAYS AGO ON A 4H TIMEFRAME THAT COULD COMPLETE ANY DAY SOON.
THIS SET UP COULD BE TRADED WITH A MULTIPLE TP, BUT IF YOU ARE A IN AND OUT TRADER I BELIEVE THERE IS QUITE GOOD RISK REWARD RATION TO CONSIDER THIS TRADE IF THE PATTERN GETS COMPLETED.
YOU CAN EITHER SET YOUR PROFIT TARGET ON A 38.2 RETRACEMENT OF THE LAST LEG OR YOU COULD A SHOOT FOR THE TP UP TO THE PREVIOUS STRUCTURE HIGHS.
BY THE WAY THE STOP LOSS MUST GO UNDERNEATH THE PREVIOUS STRUCTURE LOWS, THE ONE THAT IS FOUND BIT BEFORE THE X LEG.
GOOD LUCK EVERYBODY.
THIS IS NOT A FINANCIAL ADVICE. TRADE AT YOUR OWN RISK.
THIS SET UP COULD BE TRADED WITH A MULTIPLE TP, BUT IF YOU ARE A IN AND OUT TRADER I BELIEVE THERE IS QUITE GOOD RISK REWARD RATION TO CONSIDER THIS TRADE IF THE PATTERN GETS COMPLETED.
YOU CAN EITHER SET YOUR PROFIT TARGET ON A 38.2 RETRACEMENT OF THE LAST LEG OR YOU COULD A SHOOT FOR THE TP UP TO THE PREVIOUS STRUCTURE HIGHS.
BY THE WAY THE STOP LOSS MUST GO UNDERNEATH THE PREVIOUS STRUCTURE LOWS, THE ONE THAT IS FOUND BIT BEFORE THE X LEG.
GOOD LUCK EVERYBODY.
THIS IS NOT A FINANCIAL ADVICE. TRADE AT YOUR OWN RISK.
Trade active:
I have entered yesterday at 100.250 (D-LEG Completion) and looking for a PT around 101.400.
Trade closed: target reached:
First TP has been reached, well done me :D