USD/JPY SHORT Opportunity On The 4 Hour Chart
USD/JPY is set up for a good short opportunity. It has broken through and now come back to re-test a major 4-hour resistance zone.
If you look at the 5-minute chart, there was an uptrend that broke right at the end of the week so I will be looking to short when this week opens.
The blue lines below the zone are 3 TP areas.
PLEASE NOTE: I don't usually use a stop loss except to lock in profits so make sure to choose your own stop loss. I typically wait for a 4-hour candle to close beyond my stop loss before I exit. This way I don't have to worry about wicks/being faked out.
LET ME KNOW WHAT YOU GUYS THINK ABOUT USD/JPY IN THE COMMENTS SECTION BELOW!
If you look at the 5-minute chart, there was an uptrend that broke right at the end of the week so I will be looking to short when this week opens.
The blue lines below the zone are 3 TP areas.
PLEASE NOTE: I don't usually use a stop loss except to lock in profits so make sure to choose your own stop loss. I typically wait for a 4-hour candle to close beyond my stop loss before I exit. This way I don't have to worry about wicks/being faked out.
LET ME KNOW WHAT YOU GUYS THINK ABOUT USD/JPY IN THE COMMENTS SECTION BELOW!
Comment:
TP 1 Hit. Make sure to lock in profits and set to break even or in profit at this point.