LONDON UJ LONG 618 LIMIT ATR
After dropping more than 100 pips in such a short time, USDJPY is destined to fall to its death right?.. well, not exactly..
HIGHER TIMEFRAME ANALYSIS SUGGEST THE BREAK OF A DOWNTREND WITH PRICE FALLING SHARPLY TO THE 618 RETRACEMENT LEVEL OF THE HUGE IMPULSE MOVE MADE LAST WEEK.
I KNOW, I KNOW.. BASED ON LAST SETUP, WE ARE SUPPOSED TO BE DONE FOR THE NIGHT, AND POSSIBLY FOR THE WEEK. HOWEVER, USDJPY HAS MADE AN OFFER WE JUST CANNOT REFUSE AND BECAUSE OF THAT, HAVE DECIDED TO ACT QUICKLY AND TAKE ONE OF OUR PLAYBOOK SETUPS USING OUR PROPRIETARY ATR FOR SL PLACEMENT ( in this case 30 PIPS).
Even if we are wrong, our prior gains allow us to spend 1R to be part of this potential opportunity to at least double our risk.
now we wait, and see probability in action, in real time...
PROBABILITY for success: 50%
HIGHER TIMEFRAME ANALYSIS SUGGEST THE BREAK OF A DOWNTREND WITH PRICE FALLING SHARPLY TO THE 618 RETRACEMENT LEVEL OF THE HUGE IMPULSE MOVE MADE LAST WEEK.
I KNOW, I KNOW.. BASED ON LAST SETUP, WE ARE SUPPOSED TO BE DONE FOR THE NIGHT, AND POSSIBLY FOR THE WEEK. HOWEVER, USDJPY HAS MADE AN OFFER WE JUST CANNOT REFUSE AND BECAUSE OF THAT, HAVE DECIDED TO ACT QUICKLY AND TAKE ONE OF OUR PLAYBOOK SETUPS USING OUR PROPRIETARY ATR FOR SL PLACEMENT ( in this case 30 PIPS).
Even if we are wrong, our prior gains allow us to spend 1R to be part of this potential opportunity to at least double our risk.
now we wait, and see probability in action, in real time...
PROBABILITY for success: 50%
Trade closed: target reached:
TRADE CLOSED. TP HIT for 2X our risk in 45 minutes !
